Borr Drilling Reports Q1 Earnings Amid Operational Challenges and Improved Contracting Momentum
Borr Drilling reported weaker first-quarter results with revenue of $247 million, a net loss of $29 million, and adjusted EBITDA of $88.5 million due to delayed rig start-up activity and an $8.4 million credit loss provision. Despite this, the company maintained strong liquidity at $480 million and improved contracting momentum with 71% coverage for 2026.
Tickers: $BORR
Topics: debt refinancing EBITDA financial results liquidity net loss revenue decline