Borr Drilling Ltd (NYSE:BORR)

Q3 2025 Borr Drilling Ltd Earnings Call Transcript

Nov 6, 2025 / 03:00 PM GMT

Release Date Price: $3.21 (+5.94%)

Transcript

Key Points

Positve

Borr Drilling Ltd (BORR) reported a strong Q3 2025 with revenue increasing by $9.4 million quarter over quarter and adjusted EBITDA rising by 2% to $135.6 million.
The company achieved high operational execution with technical utilization at 97.9% and economic utilization at 97.4% across its fleet.
Borr Drilling Ltd (BORR) secured 22 new commitments year-to-date, adding $625 million to its backlog, including significant contract extensions in Mexico.
The company expanded its footprint into the Gulf of America and Angola, diversifying its customer base and minimizing idle time across its fleet.
Borr Drilling Ltd (BORR) has a strong liquidity position with $227.8 million in free cash and $234 million undrawn under revolving credit facilities, totaling $461.8 million in available liquidity.

Negative

The company anticipates fewer operating days in Q4 2025 due to transitioning between contracts and sanction-induced contract terminations in Mexico.
Income tax expenses increased by $6.5 million due to a one-off deferred tax benefit recognized in the prior quarter.
Borr Drilling Ltd (BORR) faced challenges with collections in Mexico, although payments have started to normalize.
The company had to issue termination notices for contracts in Mexico due to newly imposed international sanctions affecting one of its counterparties.
Despite improvements, the company still faces near-term volatility in the market, particularly in regions like Southeast Asia where demand takes longer to materialize.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BORR.N - Borr Drilling Ltd
Q3 2025 Borr Drilling Ltd Earnings Call
Nov 06, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the Boardrilling Limited Q3 2025 results presentation, webcast, and conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press 1 and 1 on your telephone. You will then hear an automatic message advising your hand is raised. To withdraw your question, please press 1 and 1 again. If you wish to ask a question via the webcast, please use the Q&A box available on the webcast link at any time during the conference. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker

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