Business
Borr Drilling Limited Announces Fourth Quarter 2025 Results
Borr Drilling Limited (NYSE: BORR) ("Borr", "Borr Drilling" or the "Company") announces unaudited results for the three months and year ended December 31, 2025.
About this update from Borr Drilling Limited
[{"type":"text","content":"HAMILTON, Bermuda, Feb. 18, 2026 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) ("Borr", "Borr Drilling" or the "Company") announces unaudited results for the three months and year ended December 31, 2025.","length":239,"tagName":"p"},{"type":"text","content":"Highlights","length":10,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Fourth Quarter total operating revenues of $259.4 million, a decrease of $17.7 million or 6% compared to net income in the third quarter of 2025","length":144,"tagName":"p"}]},{"val":[{"type":"text","content":"Fourth Quarter net loss of $1.0 million, a decrease of $28.8 million compared to the third quarter of 2025","length":106,"tagName":"p"}]},{"val":[{"type":"text","content":"Fourth Quarter Adjusted EBITDA of $105.2 million, a decrease of $30.4 million or 22% compared to the third quarter of 2025","length":127,"tagName":"p"}]},{"val":[{"type":"text","content":"2025 annual net income of $45.0 million, a decrease of $37.1 million or 45% compared to 2024","length":92,"tagName":"p"}]},{"val":[{"type":"text","content":"2025 annual Adjusted EBITDA of $470.1 million, a decrease of $35.3 million or 7% compared to 2024","length":97,"tagName":"p"}]},{"val":[{"type":"text","content":"Entered into an agreement for the acquisition of five premium jack-up rigs from Noble Corporation for a total purchase price of $360 million, which was subsequently completed in January 2026","length":190,"tagName":"p"}]},{"val":[{"type":"text","content":"Completed offering of additional $165 million principal amount of 10.375% senior secured notes due 2030","length":103,"tagName":"p"}]},{"val":[{"type":"text","content":"Completed equity offering of 21 million shares at a price of $4.00 per share for total gross proceeds of $84 million","length":116,"tagName":"p"}]},{"val":[{"type":"text","content":"For the full year 2025, the Company was awarded 24 new contract commitments, representing more than 5,000 days and $649 million of Dayrate Equivalent Backlog","length":157,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":1132,"olType":false},{"type":"text","content":"Chief Executive Officer Bruno Morand commented:","length":47,"tagName":"p"},{"type":"text","content":""Our operational performance in the fourth quarter of 2025 was solid, with a technical ut...