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PRNewsWire
2 months ago
Borr Drilling Limited Announces Second Quarter 2025 Results
HAMILTON, Bermuda , Aug. 13, 2025 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) ("Borr", "Borr Drilling" or the "Company") announces unaudited results for the six months ended June 30, 2025. Highlights Total operating revenues of $267.7 million, an increase of $51.1 million or 24% compared to the first quarter of 2025 Net income of $35.1 million, an increase of $52.0 million compared to the net loss in the first quarter of 2025 Adjusted EBITDA of $133.2 million, an increase of $37.1 million or 39% compared to the first quarter of 2025 YTD 2025, the company was awarded 14 new contract commitments, representing approximately 2,584 days and $318 million of potential contract revenue Other Events In July 2025, the Company increased its liquidity by more than $200 million through an equity offering of $102.5 million, and commitments from commercial banks including existing lenders which have the effect of increasing available amounts under revolving credit facilities and more favourable terms for of its financial covenants.