Borr Drilling LtdBORREarnings & Financial Report
Borr Drilling Ltd is a global offshore drilling contractor owning and operating a modern fleet of high-spec jack-up rigs. It offers drilling services to oil and gas exploration and production firms, with main operations across the North Sea, Southeast Asia, Middle East, and West Africa for shallow-water and marginal field projects.
Revenue
$271.9M
Gross Profit
N/A
Operating Profit
$104.5M
Net Profit
$31.7M
Gross Margin
N/A
Operating Margin
38.4%
Net Margin
11.7%
YoY Growth
45.0%
EPS
$0.12
Borr Drilling Ltd Q2 FY2024 Financial Summary
Borr Drilling Ltd reported revenue of $271.9M (up 45.0% YoY) for Q2 FY2024, with a net profit of $31.7M (up 3862.5% YoY) (11.7% margin).
Key Financial Metrics
| Total Revenue | $271.9M |
|---|---|
| Net Profit | $31.7M |
| Gross Margin | N/A |
| Operating Margin | 38.4% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
Borr Drilling Ltd Q2 FY2024 revenue of $271.9M breaks down across 2 segments, led by Transferred Over Time at $264.4M (97.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Transferred Over Time | $264.4M | 97.2% |
| Transferred At Point In Time | $7.5M | 2.8% |
Borr Drilling Ltd Revenue by Segment — Quarterly Trend
Borr Drilling Ltd revenue by segment across the last 4 reported quarters, showing how each business line (such as Transferred Over Time and Transferred At Point In Time) has evolved quarter over quarter.
| Segment | Q2 FY2025 | Q2 FY2024 | Q2 FY2023 | Q2 FY2022 |
|---|---|---|---|---|
| Transferred Over Time | $256.6M | $264.4M | $180.2M | $102.0M |
| Transferred At Point In Time | $11.1M | $7.5M | $7.3M | $3.3M |
Borr Drilling Ltd Quarterly Revenue & Net Profit History
Borr Drilling Ltd results over the last 4 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q2 FY2025 | $267.7M | -1.5% | $35.1M | 13.1% |
| Q2 FY2024 | $271.9M | +45.0% | $31.7M | 11.7% |
| Q2 FY2023 | $187.5M | +78.1% | $800.0K | 0.4% |
| Q2 FY2022 | $105.3M | +92.2% | $-165.3M | -157.0% |
Income Statement
| Q2 2022 | Q2 2023 | Q2 2024 | Q2 2025 | |
|---|---|---|---|---|
| Revenue | $105.3M | $187.5M | $271.9M | $267.7M |
| YoY Growth | 92.2% | 78.1% | 45.0% | -1.5% |
Balance Sheet
| Q2 2022 | Q2 2023 | Q2 2024 | Q2 2025 | |
|---|---|---|---|---|
| Assets | $2.99B | $3.00B | $3.18B | $3.35B |
| Liabilities | $2.28B | $2.09B | $2.18B | $2.34B |
| Equity | $711.5M | $906.2M | $999.2M | $1.01B |
Cash Flow
| Q2 2022 | Q2 2023 | Q2 2024 | Q2 2025 | |
|---|---|---|---|---|
| Operating CF | $-8.5M | $2.4M | $16.0M | $6.3M |