Borr Drilling Limited (BORR) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.814 Good morning, and thank you for participating in Board Drilling Third Quarter Earnings 00:00:03.814 -- 00:00:09.199 Call. I'm Bruno Moran, and with me here today in Bermuda is Magnus Waller, 00:00:09.199 -- 00:00:14.244 our Chief Financial Officer. First, covering the required disclaimers, I would like to 00:00:14.244 -- 00:00:18.708 remind all participants that some of the statements will be forward-looking. 00:00:18.708 -- 00:00:23.112 These matters involve risks and uncertainties that could cause actual results to differ 00:00:23.112 -- 00:00:26.154 materially from those projected in these statements. 00:00:26.154 -- 00:00:29.967 I therefore refer you to our latest public filings. 00:00:29.967 -- 00:00:34.934 For today's call, I'll start with a review of Q3 and highlight key developments since 00:00:34.934 -- 00:00:39.901 quarter end. Magnus will then review our quarterly financial results. 00:00:39.901 -- 00:00:44.487 I'll follow with a deeper look in the market and our commercial execution, and we'll 00:00:44.487 -- 00:00:46.770 conclude with your questions. 00:00:46.770 -- 00:00:48.693 Let's get started. 00:00:48.693 -- 00:00:54.140 Our third quarter results were strong, extending the rebound delivery in the second quarter. 00:00:54.140 -- 00:00:59.206 With 23 or 24 rigs active, Our commercial team continues to execute 00:00:59.206 -- 00:01:04.732 at the highest levels, delivering strategically and timely contracts despite a volatile 00:01:04.732 -- 00:01:07.295 and dynamic market. 00:01:07.295 -- 00:01:12.782 Revenue increased by $9.4 million quarter over quarter and adjusted EBITDA rose 2% 00:01:12.782 -- 00:01:17.948 to $135.6 million with a margin of 48.9%, 00:01:17.948 -- 00:01:21.210 confirming the quality of our earnin...