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Borr Drilling Limited (DE:B2W)
FRANKFURT:B2W
Holding DE:B2W?
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Earnings Data
Report Date
Feb 28, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.11Last Year’s EPS
0.11Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 21, 2018
|% Change Since: -7.38%
|Next Earnings Date:Aug 23, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with strong operational performance and fleet growth, but financial results showed declines in revenues and earnings. While there is confidence in future opportunities and revenue visibility, the market faces uncertainties and challenges, particularly with Pemex payments and potential contract delays.Company Guidance
During the Borr Drilling Q3 2024 earnings call, the company's guidance was adjusted to reflect full-year adjusted EBITDA expectations at or above the lower end of the $500 million to $550 million range. This revision considers market dynamics, including the impact of rig suspensions and contract delays in Saudi Arabia and Mexico. Despite these challenges, the company maintains strong revenue visibility into 2025, with 78% of its fleet contracted at an average day rate of $148,000 per day, marking a 10% increase from 2024. Additionally, Borr Drilling's liquidity position remains robust, with approximately $335 million available, including $185 million in cash and a $150 million undrawn revolving credit facility. The Board has decided to continue with a quarterly total shareholder return of $25 million, comprising a $0.02 per share cash distribution and a $20 million share buyback, reflecting confidence in the company's long-term market positioning and financial stability.Strong Technical and Economic Utilization
Core operations performed strongly with a technical utilization of 98.7% and an economic utilization rate of 96.9%.
Revenue Visibility and Fleet Contracting
Contract portfolio has strong revenue visibility into 2025 with 78% of the fleet contracted through 2025 at an average day rate of $148,000 per day, which is 10% higher than in 2024.
Completion of Newbuild Program
Delivery of the Var next week will complete Borr's newbuild program, bringing the fleet to 24 premium rigs, the youngest fleet in the industry.
Financial Position and Liquidity
Cash at the end of the quarter was $185 million, with total liquidity of approximately $335 million, including an undrawn $150 million revolving credit facility.
Shareholder Returns
The Board declared a cash distribution of $0.02 per share and committed to buy back $20 million in shares, maintaining a quarterly total shareholder return of $25 million.
Contract Extensions
Secured contract extensions for the Mist, Prospector 1, and Hild with current customers, ensuring continued operational efficiency and revenue.
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DE:B2W Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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DE:B2W Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | €4.03 | €3.62 | -10.03% |
| Aug 14, 2024 | €5.64 | €5.90 | +4.50% |
| May 23, 2024 | €5.17 | €5.79 | +11.83% |
| Feb 22, 2024 | €5.71 | €5.53 | -3.08% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Borr Drilling Limited (DE:B2W) report earnings?
Borr Drilling Limited (DE:B2W) is schdueled to report earning on Feb 28, 2025, TBA Not Confirmed.
What is Borr Drilling Limited (DE:B2W) earnings time?
Borr Drilling Limited (DE:B2W) earnings time is at Feb 28, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Borr Drilling Limited stock?
The P/E ratio of Borr Drilling is N/A.
What is DE:B2W EPS forecast?
DE:B2W EPS forecast for the fiscal quarter 2024 (Q4) is 0.11.
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