Borr Drilling (BORR) Reports Q1 2026 Revenue of $247 Million
Published on Β· Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowBorr Drilling (BORR) reported revenue of $247 million for Q1 2026, with adjusted EBITDA of $88.5 million. The company achieved a technical utilization rate of 99.4% and an economic utilization rate of 97%. Delays in the start-up of the Odin rig, with a credit loss provision of $8.4 million, impacted results. Looking ahead, BORR's coverage for full year 2026 has increased to 71% at an average day rate of approximately $137,000. The company also acquired 5 premium jack-up rigs for $287 million, increasing its fleet from 29 to 34 rigs.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
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