Borr Drilling Limited reported a robust Q3 2025, with a revenue increase of $9.4 million quarter-over-quarter and adjusted EBITDA growth to $135.6 million, while maintaining high utilization rates across its fleet.
- Revenue growth driven by increased day rates and bareboat chartering, with total operating revenues at $158.3 million.
- Adjusted EBITDA margin remains strong at 48.9%, reflecting high operational efficiency.
- Significant liquidity position with $461.8 million available, including $227.8 million in free cash.
- Secured three contract extensions in Mexico, enhancing visibility into 2026 and beyond.
- Optimistic outlook for Q4 2025 despite near-term transition impacts, with full-year adjusted EBITDA projected between $455 million and $470 million.
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