Borr Drilling’s First Quarter Profit Takes Hit as Odin Rig Start-Up Lags
Borr Drilling reported a wider net loss of $29 million for Q1 2026, primarily due to delays in the Odin jack-up rig's contract start-up and contract transitions. Despite the financial hit, the company is expanding its fleet through acquisitions and has secured significant new contract commitments, increasing its full-year 2026 contract coverage to 71%. Borr Drilling anticipates improved activity and dayrates in 2027 and 2028, driven by current market dynamics and a focus on energy security.
Borr Drilling Upgrades Oslo Listing to Main Euronext Oslo Børs Market
Borr Drilling announced its shares have been approved for transfer from Euronext Growth Oslo to the main Euronext Oslo Børs market, effective May 21, 2026. This move is expected to increase market visibility, broaden its investor base, and support future financial activities, while the company maintains its primary listing on the NYSE. The offshore drilling contractor, specializing in shallow-water services, also noted a recent analyst rating of Buy with a $6.80 price target on its stock.
Borr Drilling (NYSE: BORR) upgrades to Euronext Oslo Børs main market
Borr Drilling Limited is upgrading its Norwegian share listing from Euronext Growth Oslo to the main Euronext Oslo Børs market, with trading beginning on May 21, 2026, under the existing ticker "BORR." The move follows approval of a prospectus by the Norwegian Financial Supervisory Authority on May 20, 2026. Despite this change, Borr Drilling's primary listing will continue to be on the New York Stock Exchange.
Borr Drilling (BORR) posts Q1 2026 loss as EBITDA and cash decline
Borr Drilling Limited reported a net loss of $29.0 million in Q1 2026, a decline from a near break-even result in Q4 2025, with total operating revenues falling to $247.0 million. Adjusted EBITDA also decreased to $88.5 million from $105.2 million in the previous quarter, and cash and cash equivalents dropped by 35.2%. Despite these declines, the company maintains strong liquidity of $480 million and operates a young fleet with 71% contract coverage for 2026, expressing optimism for an improved market in the second half of 2026 and strong prospects into 2027–2028.
Borr Drilling shareholders back board, auditor and fee cap at 2026 AGM
Borr Drilling shareholders have re-elected the existing board members and approved the audited 2025 financial statements at their 2026 annual general meeting. They also renewed PricewaterhouseCoopers LLP as the independent auditor and capped total board fees for 2026 at $1,600,000. This indicates strong shareholder support for the current leadership, strategic direction, and a formalized governance cost structure.
Borr Drilling’s CEO: Middle East conflict brings uncertainty but empowers long-term rig outlook
Borr Drilling's CEO, Bruno Morand, reported strong operational performance in Q1 2026 with high technical and economic utilization, despite revenue and EBITDA decreases linked to an $8.4 million credit loss provision and delayed contract start-up for the Odin rig. The company secured 13 new jack-up rig deals, expanding its backlog, and made strategic acquisitions and a $300 million convertible note offering to strengthen its financial structure. Morand believes that while the Middle East conflict introduces near-term uncertainty, it ultimately bolsters the long-term outlook for the offshore drilling sector by driving higher oil prices and a renewed focus on energy security.
Borr Drilling Q1 Earnings Call Highlights
Borr Drilling reported weaker Q1 results with revenue of $247 million and a net loss of $29 million, impacted by delays with the Odin rig and a credit loss provision. Despite this, the company maintained solid liquidity and improved its contracting momentum, securing eight new commitments and increasing 2026 rig coverage to 71% with higher average dayrates. Management highlighted strengthening demand across various regions, contributing to a more positive outlook for the future.
Borr Drilling Limited 2026 Q1 - Results - Earnings Call Presentation (NYSE:BORR) 2026-05-21
Borr Drilling Limited (NYSE:BORR) released its Q1 2026 earnings call presentation, reporting an EPS miss of $0.09 and revenue of $247.00M, which was below expectations by $5.36M. The company's Q1 earnings summary indicates a 14.04% year-over-year revenue growth despite missing analyst estimates. This article provides the slide deck published in conjunction with their earnings call.
How to listen to Borr Drilling's Q1 2026 results call today
Borr Drilling (NYSE: BORR) will present its first-quarter 2026 results today, May 21, 2026, via webcast and conference call at 9:00 AM New York time (3:00 PM CEST). Investors can access the live webcast or register for the call to receive dial-in details, with a replay also available. The article notes a significant negative market reaction to this news, with BORR stock declining by 13.84%, removing approximately $263 million from the company's valuation.
Intuit, Osisko Development, Borr Drilling And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
Several prominent stocks are experiencing declines in Thursday's pre-market trading. Intuit Inc. fell sharply despite upbeat Q3 results, due to a planned workforce reduction and its Q4 guidance. Other companies like Osisko Development Corp, Borr Drilling Ltd, and Rocket Lab Corp also saw their shares drop following various financial updates or offerings.
Borr Drilling: Q1 Earnings Snapshot
Borr Drilling Ltd. (BORR) reported a first-quarter loss of $29 million, resulting in a loss of 9 cents per share. The oilfield services company generated $247 million in revenue for the period. Borr Drilling's stock has seen significant growth, rising 53% year-to-date and more than tripling over the past 12 months.
Borr Drilling buys 5 rigs, lines up 5 more in Mexico JV
Borr Drilling reported Q1 2026 revenues of $247.0 million and a net loss of $29.0 million, with Adjusted EBITDA at $88.5 million. Despite a dip in quarterly profitability, the company expanded its fleet by acquiring five jack-up rigs from Noble for $360 million and agreeing to a 50/50 joint venture for five more for $287 million. Borr Drilling also secured 13 new contract commitments totaling over 2,250 days and $274 million in Dayrate Equivalent Backlog, and strengthened its capital structure by issuing $300 million in convertible notes to repurchase existing 2028 bonds.
Offshore driller Borr Drilling moves to Oslo’s main stock market
Borr Drilling (NYSE: BORR, OSE: BORR) is transferring its Oslo listing from Euronext Growth Oslo to the main market, Euronext Oslo Børs, effective May 21, 2026. The company's ticker and ISIN remain unchanged, and its primary listing continues to be on the NYSE. A prospectus for this listing was approved by the Norwegian Financial Supervisory Authority on May 20, 2026, and is available on Borr Drilling's website.
Borr Drilling Limited - Commencement of Trading on Euronext Oslo Børs and Publication of Prospectus
Borr Drilling Limited (BORR) has announced the commencement of trading on Euronext Oslo Børs, effective May 21, 2026. This transfer means the company's shares will cease trading on Euronext Growth Oslo. A prospectus related to this listing was approved by the Norwegian Financial Supervisory Authority and is available on the company's website.
Press Release: Borr Drilling Limited Announces First Quarter 2026 Results
Borr Drilling Limited has announced its First Quarter 2026 results through a press release. The document detailing these financial results is available for review.
Borr Drilling Expands Jack-Up Fleet and Refinances Debt Amid Weaker Q1 Results
Borr Drilling reported weaker Q1 2026 results with a decline in revenue and wider net losses due to a delayed rig start-up and credit loss provisions. Despite this, the company expanded its jack-up fleet through acquisitions, boosted 2026 contract coverage to 71%, and refinanced debt, positioning itself for an anticipated upturn in offshore demand by 2027–2028. Management noted near-term pressures but expects stronger dayrates and activity as offshore drilling demand improves.
Borr Drilling Limited - 2026 AGM Results Notification
Borr Drilling Limited held its 2026 Annual General Meeting on May 20, 2026, where audited financial statements for the year ended December 31, 2025, were presented. Shareholders approved the re-election of nine directors, the re-appointment of PricewaterhouseCoopers LLP as auditors, and authorized a total remuneration of up to US$1,600,000 for the Board of Directors for the year ending December 31, 2026.
Borr Drilling earnings up next: Can rig restarts offset disruptions?
Borr Drilling Ltd is preparing to release its first-quarter results, with analysts expecting modest revenue growth despite geopolitical disruptions and operational delays impacting its jack-up rig fleet. Investors will focus on how the company managed rig restarts in the Middle East, secured new contracts to fill the second half of 2026, and maintained operational efficiency amidst various delays. The company aims to leverage high commodity prices and increased energy security focus to drive consistent utilization and revenue growth.
Did Oil’s Geopolitical Spike and Q1 Earnings Setup Just Shift Borr Drilling’s (BORR) Investment Narrative?
Borr Drilling is preparing to release its Q1 earnings, with analysts anticipating a resumption of year-on-year revenue growth. The company's investment narrative is further influenced by recent geopolitical tensions that have pushed oil prices above US$100 per barrel, increasing focus on offshore drillers. While geopolitical events can cause volatility, Borr's sustained demand for modern jack-up rigs, contract coverage (70% for 2026 at US$134,000/day), and disciplined balance sheet management are key to its outlook.
Borr Drilling (BORR) Q1 Earnings Report Preview: What To Look For
Borr Drilling (NYSE:BORR) is set to announce its Q1 earnings this Wednesday, with market expectations for a 16.5% year-on-year revenue increase. The company beat revenue and EPS estimates last quarter, and analysts have largely maintained their estimates. While Borr Drilling has a history of missing Wall Street's revenue estimates, the oilfield services segment has seen positive investor sentiment recently.
Borr Drilling and Core Laboratories Shares Are Soaring, What You Need To Know
Borr Drilling (NYSE: BORR) and Core Laboratories (NYSE: CLB) experienced significant stock price jumps after crude oil prices surged above $100 a barrel, primarily due to rising geopolitical tensions and decreased U.S. crude inventories. Borr Drilling's shares increased by 4.9%, and Core Laboratories' shares rose by 4.4%. Borr Drilling has seen a 65.8% increase year-to-date, reaching a new 52-week high, driven by direct benefits from higher oil prices for energy producers.
Citigroup Maintains Borr Drilling (BORR) Neutral Recommendation
Citigroup has reiterated its Neutral recommendation for Borr Drilling (BORR). This indicates the analyst firm sees the stock as performing in line with the market, without strong positive or negative catalysts. Investors often use such recommendations as a guide for their own investment decisions.
A Look At Borr Drilling (NYSE:BORR) Valuation As Geopolitics Lift Oil Prices And Investor Interest
Borr Drilling (BORR) has seen a significant stock increase, fueled by rising oil prices and geopolitical events. While one valuation narrative suggests the stock is 7.2% overvalued at $5.84, a Discounted Cash Flow model by Simply Wall St indicates an 82.5% discount to an estimated future cash flow value of $35.68, suggesting a potentially large undervaluation. Investors are urged to consider both the recent strong returns and potential risks in the jack-up market.
A Look At Borr Drilling (NYSE:BORR) Valuation As Geopolitics Lift Oil Prices And Investor Interest
Borr Drilling (NYSE:BORR) saw increased investor attention and a share price rise following geopolitical events impacting oil prices. While one valuation narrative suggests the stock is 7.2% overvalued at $5.84, a discounted cash flow model suggests it is significantly undervalued by 82.5% at $35.68. The article highlights the conflicting valuation signals and advises investors to consider both rewards and warning signs.
Number of shareholders of Borr Drilling Limited – DUS:B2W
The article provides a single data point about the "Number of shareholders of Borr Drilling Limited" for the DUS:B2W stock on the Dusseldorf Stock Exchange. It indicates that the share count data is available by period, value, and change. The page itself is a financial data overview from TradingView, focusing on Borr Drilling Limited.
Borr Drilling (BORR) price target increased by 11.14% to 6.13
Borr Drilling (BORR) recently received an increased price target of 6.13, marking an 11.14% rise. This adjustment reflects updated analyst expectations for the company's stock performance. Investors will likely monitor further developments and how this revised target impacts market sentiment.
Borr Drilling (BORR) Stock Price, News & Analysis
This article provides a comprehensive overview of Borr Drilling (BORR) stock, including its current price, news, and analysis. It details the company's profile as an offshore drilling contractor, its market performance, analyst ratings, and key financial metrics. The analysis suggests a "Hold" consensus rating with potential downside risk based on current price targets and examines the company's short interest, dividend status, and institutional ownership.
Borr Drilling (BORR) price target increased by 11.14% to 6.13
This article reports that Borr Drilling (BORR) has received an increased price target of 6.13, marking an 11.14% increase. The report does not contain further details about the analyst or the reasons for the target adjustment.
Will Oil Price Volatility From Iran Tensions Reshape Borr Drilling's (BORR) Geopolitical Risk Narrative
Geopolitical tensions, specifically Iran's rejection of a peace proposal, have caused a rise in crude oil prices, impacting Borr Drilling (BORR). While this volatility might boost sentiment, the company's core investment narrative still depends on maintaining demand for shallow water drilling and utilizing its fleet effectively. Borr Drilling's contract coverage for 2026 is at 70% with strong day rates, but its reliance on certain regions and clients poses a risk.
Borr Drilling Limited - Announces Pricing of $260 million of 3.50% Convertible Senior Notes due 2033
Borr Drilling Limited has announced the pricing of $260 million of 3.50% Convertible Senior Notes due in 2033. This press release was distributed via Quantisnow, a real-time market data platform that alerted its Plus members shortly after publication. The company's stock symbol is BORR.
Borr Drilling (BORR) Valuation Check After $300 Million Notes Deal And Five Jack Up Rig Acquisition
Borr Drilling (BORR) has gained investor attention following a $300 million convertible senior notes offering and the acquisition of five jack-up rigs for $287 million. The company has seen significant share price returns recently, but its valuation is mixed, with analysts suggesting it is slightly overvalued at $5.84, while a Discounted Cash Flow model indicates it is significantly undervalued at $36.88. Investors are encouraged to review both the potential rewards and warning signs before making decisions.
Borr Drilling (BORR) Valuation Check After $300 Million Notes Deal And Five Jack Up Rig Acquisition
Borr Drilling (BORR) has completed a $300 million convertible senior notes offering and acquired five jack-up rigs for $287 million, attracting investor attention. While analysts in the most popular narrative see BORR as 4.5% overvalued at a fair value of $5.84, a Discounted Cash Flow (DCF) model suggests it is significantly undervalued at $36.88. The article highlights mixed sentiment and suggests reviewing both rewards and risks for a clearer investment picture.
Borr Drilling (BORR) Short Interest & Short Float | Updated May 2026
Borr Drilling (BORR) reported a short interest of 19.04 million shares as of April 15, 2026, representing 6.55% of its public float, an increase of 10.40% from the previous report. The short interest ratio stands at 2.7 days to cover. This indicates a notable increase in bearish sentiment among investors for the offshore drilling contractor.
Borr Drilling stock hits 52-week high at 6.25 USD
Borr Drilling Ltd's stock price hit a new 52-week high of $6.25, marking a 264.41% increase over the past year and a 100% return in the last six months. InvestingPro’s Fair Value analysis suggests the stock might still be undervalued. The company recently completed a $300 million convertible senior notes offering and acquired five jack-up rigs for $287 million, indicating strategic financial and operational expansion.
Should Borr Drilling’s US$260 Million Convertible Notes Issue Require Action From Borr Drilling (BORR) Investors?
Borr Drilling recently issued US$260 million in 3.5% senior unsecured convertible notes maturing in 2033, adding a new layer to its capital structure. This move provides near-term liquidity but also introduces future conversion risk, alongside their agreement to acquire five new jack-up rigs for US$287 million. Investors should consider how this new financing and fleet expansion will impact the company's growth, balance sheet, and existing leverage risks.
Borr Drilling (BORR) Q4 2025 earnings summary
Borr Drilling reported strong operational performance in Q4 2025 with high technical and economic utilization, and full-year Adjusted EBITDA reaching $470.1 million. The company completed the acquisition of five premium rigs, enhancing its platform and maintaining a global fleet of 29 rigs with high contract coverage. Despite a sequential decrease in Q4 operating revenues and Adjusted EBITDA, the full year saw increased revenues and a net income of $45 million, with a constructive market outlook for 2027.
Should Borr Drilling’s US$260 Million Convertible Notes Issue Require Action From Borr Drilling (BORR) Investors?
Borr Drilling recently issued US$260 million in 3.5% senior unsecured convertible notes maturing in 2033, adding a new financial layer that blends fixed income with potential equity conversion. This move, alongside the acquisition of five new jack-up rigs for US$287 million, aims to strengthen liquidity and support growth, but also introduces future dilution and leverage risks. Investors are encouraged to assess how these financial decisions impact the company's balance sheet and operational outlook.
Borr Drilling (NYSE:BORR) Trading 5.8% Higher - Here's What Happened
Borr Drilling (NYSE:BORR) saw its shares climb 5.8% to $6.09 on Tuesday, with trading volume slightly below its daily average. The company recently reported an earnings beat, with EPS of $0.00 against an anticipated -$0.03, and revenue of $259.4 million, exceeding the $238.65 million estimate. Analyst sentiment for BORR is mixed, with an average "Hold" rating and a price target of $4.33, though Citigroup recently raised its target to $6.25.
Borr Drilling (BORR) Q2 2024 earnings summary
Borr Drilling (BORR) reported a strong Q2 2024 with operating revenues up 16% sequentially to $271.9 million and net income rising 120% to $31.7 million. The company declared a $0.10 per share dividend and achieved a backlog exceeding $650 million year-to-date, with 73% of 2025 capacity secured at an average dayrate of $148,000. Borr Drilling maintained its 2024 Adjusted EBITDA guidance of $500–$550 million and anticipates significant cash flow growth in 2025 due to reduced CapEx and higher day rates.
Borr Drilling (BORR) Q4 2024 earnings summary
Borr Drilling reported a strong Q4 2024 with operating revenue up 9% sequentially to $263.1 million and Adjusted EBITDA increasing 18% to $136.7 million. Net income surged 171% to $26.3 million, with an EPS of $0.11. Despite anticipated headwinds in H1 2025 due to softening demand in Saudi Arabia and Mexico, the company expects market improvement in H2 2025 and has 77% of its 2025 rig days contracted at higher average day rates.
Glenorchy Capital Ltd Acquires Shares of 616,288 Borr Drilling Limited $BORR
Glenorchy Capital Ltd has acquired a new stake of 616,288 shares in Borr Drilling Limited, valued at approximately $2.48 million, making it their 23rd largest holding. Other institutional investors like Millennium Management LLC have also significantly increased their positions in Borr Drilling. The company currently holds an average analyst rating of "Hold" with an average target price of $4.33, although individual ratings range from a "Strong Buy" to a "Sell."
Borr Drilling (BORR) Pareto Securities' 31st annual Energy Conference Presentation summary
Borr Drilling presented at Pareto Securities' 31st annual Energy Conference, highlighting its strong market position with the youngest premium jack-up rig fleet operating at high utilization rates. The company benefits from a tight jack-up market, increased exposure to NOCs, and strong financial performance including solid Q2 2024 adjusted EBITDA and significant backlog additions. Borr Drilling also emphasized its significant liquidity, upcoming incremental cash flow, and shareholder returns through dividends and buybacks.
Borr Drilling forms Mexico JV to acquire five rigs for $287M
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Assessing Borr Drilling’s (NYSE:BORR) Valuation After New Middle East And Southeast Asia Rig Contracts
Borr Drilling (NYSE:BORR) has secured new rig contracts in the Middle East and Southeast Asia, leading to strong recent share price performance. Despite a 5% undervaluation based on one narrative projecting future growth, another view highlights a high P/E ratio compared to industry averages, suggesting potential valuation risk. Investors are encouraged to review both sides of the analysis to inform their decision.
Assessing Borr Drilling’s (NYSE:BORR) Valuation After New Middle East And Southeast Asia Rig Contracts
Borr Drilling (BORR) has secured new rig contracts in the Middle East and Southeast Asia, and its shares have performed strongly over the past year. While a common valuation narrative suggests the stock is 5% undervalued, future profitability hinges on sustained high day rates and utilization, with risks from potential oversupply in the jack-up market. Another perspective, however, points to higher valuation risk due to the company's current P/E ratio being significantly above industry averages.
Borr Drilling (NYSE:BORR) Upgraded at Fearnley Fonds
Fearnley Fonds upgraded Borr Drilling (NYSE:BORR) from a "hold" to a "strong-buy" rating. Despite this, analysts have mixed opinions, with MarketBeat showing a consensus "Hold" rating and a target price of $4.33. Borr Drilling recently beat Q4 earnings and revenue estimates and remains a significant holding for institutional investors.
Borr Drilling Sets 2026 Financial Reporting Schedule
Borr Drilling has announced its financial calendar for fiscal year 2026, providing key dates for stakeholders including its annual general meeting and quarterly reports. This schedule aims to enhance transparency and allow investors, analysts, and bondholders to plan for major information releases. The company operates in the offshore drilling industry, with its performance linked to exploration, production, and global energy demand, and currently holds a "Hold" rating with a $6.25 price target from analysts.
Borr Drilling announces pricing of 260 million of 3.50% convertible senior notes due 2033
Borr Drilling Limited has announced the pricing of $260 million in 3.50% convertible senior notes due 2033 for qualified institutional buyers. The company plans to use the proceeds to repurchase existing convertible bonds due 2028 and for general corporate purposes. This offering includes an option for initial purchasers to buy an additional $40 million in notes to cover over-allotments.
Borr Drilling (NYSE: BORR) schedules Q1 2026 results release and webcast
Borr Drilling Limited (NYSE: BORR) has announced that it will release its financial results for the first quarter of 2026 after the close of trading on the NYSE on May 20, 2026. The company will host a conference call and webcast to discuss these results on May 21, 2026, at 09:00 New York time (15:00 CEST). Investors can access the earnings report, webcast, and presentation through the Investor Relations section of Borr Drilling's website.
Borr Drilling Sets 2026 Financial Reporting Schedule
Borr Drilling (BORR) has released its financial calendar for fiscal year 2026, detailing key reporting dates for investors and stakeholders. The schedule includes the annual general meeting and first-quarter report in May 2026, a half-year report in August 2026, and a third-quarter report in November 2026, followed by the annual report in March 2027. This transparency helps investors and analysts plan around the company's disclosures and underscores Borr Drilling's commitment to listing obligations and communication with capital markets.
