Borr Drilling Limited Announces Second Quarter 2026 Results
Borr Drilling reported Q2 operating revenue of $232.3 million but swung to a net loss of $241.4 million, primarily due to a $176.3 million debt extinguishment charge tied to a major refinancing. Adjusted EBITDA fell 51% sequentially to $43.8 million, impacted by rig transitions, higher costs for the Odin ahead of its U.S. contract, and elevated expenses from the Middle East conflict.
Key figures
- Revenue
- 232300000
- Net loss
- 241400000
- Backlog usd
- 541000000
- Rcf commitment
- 250000000
- Adjusted ebitda
- 43800000
- Acquisition price
- 287000000
- Economic utilization
- 96.4%
- Technical utilization
- 98.4%
- Debt extinguishment charge
- 176300000
AI analysis
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