Borr Drilling Limited (BORR)

Borr Drilling Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	989	1,011	771.6	443.8	245.3	307.5
Revenue Growth (YoY)	7.73%	30.98%	73.86%	80.92%	-20.23%	-7.96%
Cost of Revenue	445.2	443.3	348.6	264.9	180.5	270.4
Gross Profit	543.8	567.3	423	178.9	64.8	37.1
Selling, General & Admin	62.7	62.3	55.8	36.8	34.7	49.1
Operating Expenses	202.8	193.5	173.2	153.3	154.3	167
Operating Income	341	373.8	249.8	25.6	-89.5	-129.9
Interest Expense	-226	-211.7	-177.2	-139.2	-99.4	-93
Interest & Investment Income	3.7	6.4	4.9	5.4	-	0.2
Earnings From Equity Investments	-6.1	-1.2	4.9	1.2	16.1	9.5
Currency Exchange Gain (Loss)	0.1	-3.7	-2.8	-0.9	-2.8	1.5
Other Non Operating Income (Expenses)	-14.1	-21.4	-24.1	-39	-12.5	-31.6
EBT Excluding Unusual Items	98.6	142.2	55.5	-146.9	-188.1	-243.3
Gain (Loss) on Sale of Investments	-	-	-	-	3.6	-
Gain (Loss) on Sale of Assets	0.4	0.4	0.6	4.2	1.2	19
Asset Writedown	-	-	-	-131.7	-	-77.1
Other Unusual Items	-2.3	-2.3	-	-	-	-
Pretax Income	96.7	140.3	56.1	-274.4	-183.3	-301.4
Income Tax Expense	42.5	58.2	34	18.4	9.7	16.2
Earnings From Continuing Operations	54.2	82.1	22.1	-292.8	-193	-317.6
Net Income	54.2	82.1	22.1	-292.8	-193	-317.6
Net Income to Common	54.2	82.1	22.1	-292.8	-193	-317.6
Net Income Growth	-27.54%	271.49%	-	-	-	-
Shares Outstanding (Basic)	245	251	244	178	135	75
Shares Outstanding (Diluted)	245	254	248	178	135	75
Shares Change (YoY)	-10.05%	2.54%	39.09%	32.42%	79.21%	39.89%
EPS (Basic)	0.22	0.33	0.09	-1.64	-1.43	-4.22
EPS (Diluted)	0.20	0.32	0.09	-1.64	-1.43	-4.22
EPS Growth	-33.58%	255.56%	-	-	-	-
Free Cash Flow	-233.4	-332.1	-164.7	-20.8	-77.8	-97.2
Free Cash Flow Per Share	-0.95	-1.30	-0.66	-0.12	-0.58	-1.29
Dividend Per Share	0.040	0.240	0.050	-	-	-
Dividend Growth	-84.00%	380.00%	-	-	-	-
Gross Margin	54.98%	56.14%	54.82%	40.31%	26.42%	12.06%
Operating Margin	34.48%	36.99%	32.37%	5.77%	-36.49%	-42.24%
Profit Margin	5.48%	8.12%	2.86%	-65.98%	-78.68%	-103.29%
Free Cash Flow Margin	-23.60%	-32.86%	-21.34%	-4.69%	-31.72%	-31.61%
EBITDA	481.1	505	367.2	142.1	30.1	-12
EBITDA Margin	48.64%	49.97%	47.59%	32.02%	12.27%	-3.90%
D&A For EBITDA	140.1	131.2	117.4	116.5	119.6	117.9
EBIT	341	373.8	249.8	25.6	-89.5	-129.9
EBIT Margin	34.48%	36.99%	32.37%	5.77%	-36.49%	-42.24%
Effective Tax Rate	43.95%	41.48%	60.61%	-	-	-
Revenue as Reported	989	1,011	771.6	443.8	245.3	307.5

Updated Aug 13, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q