Borr Drilling Ltd (NYSE:BORR)

Q4 2025 Borr Drilling Ltd Earnings Call Transcript

Feb 19, 2026 / 02:00 PM GMT

Release Date Price: $5.99 (+3.63%)

Transcript

Key Points

Positve

Borr Drilling Ltd (BORR) achieved significant safety milestones, with several rigs reaching years of incident-free operations.
Operational performance in Q4 was strong, with technical utilization at 98.8% and economic utilization at 97.8%.
The company secured new commitments for 7 rigs, increasing 2026 coverage to 80% in the first half and 48% in the second half.
Borr Drilling Ltd (BORR) expanded its fleet with the acquisition of 5 premium rigs from Noble, which are highly complementary to its existing portfolio.
The company completed successful equity and debt transactions, strengthening liquidity and positioning for future consolidation opportunities.

Negative

Total operating revenues decreased by 6.4% from Q3, primarily due to rigs transitioning into contracts with lower day rates.
Operating expenses increased by 7.4% compared to the third quarter, driven by higher personnel costs and other expenses.
The company recorded a net loss of $1 million for the fourth quarter.
There is uncertainty regarding the timeline for securing contracts for the newly acquired idle rigs, which may impact future revenue.
Day rates in some regions, such as Asia, have been declining, affecting overall revenue potential.

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

BORR.N - Borr Drilling Ltd
Q4 2025 Borr Drilling Ltd Earnings Call
Feb 19, 2026 / 02:00PM 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 Ball Drilling Limited Q4 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, please press 11 on your telephone.

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For the benefit of all participants on the call, please limit yourself to one question and a follow-up so that everyone is given opportunity to ask questions.

Please be advised that today's conference is being recorded. I would now like to turn the

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