Borr Drilling

Director Tor Olav Troim purchased 200,000 Borr Drilling shares on Aug. 25 at about $4.37 per share, bringing his total beneficial ownership to roughly 29.5 million shares via entities including Drew Trust. The purchase follows recent insider buying and is presented as a bullish signal despite Borr's trailing twelve-month net loss and a modest 2026 revenue uplift expected around 3%. Borr recently expanded its fleet to 34 rigs to better serve the Mexican market, but lease commitments and higher operating costs are likely to keep the company in a near-term loss before anticipated stronger revenue growth in the coming years. » Plus sur finance.yahoo.com

Borr Drilling posted weaker Q2 results with adjusted EBITDA down to $43.8 million and a net loss of $241.4 million, driven by rig transitions, startup costs for the Odin, higher fuel and insurance expenses, and a $10.8 million West Africa credit-loss provision. Revenue fell 6% sequentially and operating expenses rose, partly due to $22.5 million of Odin-related costs; management expects another $6–9 million of Odin preparation costs in Q3. The company completed a major debt refinancing, ended June with $473.6 million of liquidity and 73% 2026 contract coverage at an average day rate of about $134,000. Borr expects roughly 23 active rigs in Q3 as transitioned rigs return to work and the Odin begins its U.S. Gulf campaign, and its Mexican joint venture acquired five jackups for $287 million. » Plus sur finance.yahoo.com

Borr Drilling reported an adjusted loss of $0.79 per share in the second quarter and revenue of $232.3m, both well below analyst expectations, widening the net loss to $241.4m. Results were burdened by high ramp‑up and conversion costs (notably for the drilling rig Odin) and a loss on debt settlement. Operationally the fleet remained strong with technical utilization of 98.4%, and management therefore expects a markedly better third quarter once Odin is operational and conversion costs decline. The stock fell about 10% after the results and is trading near its yearly low. » Plus sur de.investing.com