Friday October 25, 2024, Borr Drilling Reported Preliminary Q3 Revenue Of ~$242M; Expects ~$186M In Cash And Cash Equivalents And $150M Undrawn Under Our Revolving Credit Facility As Of September 30, 2024; Expects FY24 Adjusted EBITDA At Or Around The Lower End Of The Previously Disclosed Guiding Range Of $500M-$550M
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Borr Drilling Limited reported preliminary Q3 2024 results with revenues of ~$242M and expects FY24 adjusted EBITDA at the lower end of $500M-$550M. The company has $186M in cash and $150M undrawn credit. Operating income decreased due to one-off impacts.
October 28, 2024 | 12:15 pm
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Borr Drilling's Q3 2024 revenue is ~$242M, with FY24 EBITDA expected at the lower end of $500M-$550M. The company has $186M in cash and $150M undrawn credit. Operating income decreased due to one-off impacts.
The preliminary Q3 results show stable revenue but a decrease in operating income due to one-off impacts. The guidance for FY24 EBITDA at the lower end of the range may not significantly impact the stock price in the short term, as it aligns with previous expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100