Borr Drilling reports Q3 revenue $277.1M, consensus $261.44M

Q3: Net income of $27.8 million, a decrease of $7.3 million or 21% compared to the second quarter of 2025 . Adjusted EBITDA of $135.6 million, an increase of $2.4 million or 2% compared to the second quarter of 2025. YTD 2025, the company was awarded 22 new contract commitments, representing more than 4,820 days and $625 million of potential contract revenue. CEO, Bruno Morand commented: “Our third quarter results were strong, extending the rebound delivered in the second-quarter. With 23 of our 24 rigs active during the quarter, we demonstrated disciplined execution and commercial strength in contracting rigs despite a dynamic market. Revenue increased by $9.4 million this quarter over the second quarter and Adjusted EBITDA rose 2% to $135.6 million with a margin of 48.9%, confirming the quality of our earnings. Operational execution remained robust, with technical utilization of 97.9% and economic utilization of 97.4% across the active fleet, reflecting the continued strength and efficiency of our operations.”