Borr Drilling (NYSE:BORR) Issues Quarterly Earnings Results

Borr Drilling (NYSE:BORR) announced its earnings results on Wednesday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07), FiscalAI reports. The business had revenue of $247.00 million for the quarter, compared to the consensus estimate of $253.35 million. Borr Drilling had a net margin of 4.41% and a return on equity of 4.14%.

Borr Drilling Price Performance

Shares of NYSE:BORR opened at $5.64 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 33.15 and a beta of 1.04. The company’s fifty day moving average price is $5.71 and its 200-day moving average price is $4.84. Borr Drilling has a one year low of $1.55 and a one year high of $6.66.

Hedge Funds Weigh In On Borr Drilling

A number of institutional investors and hedge funds have recently made changes to their positions in BORR. Caitong International Asset Management Co. Ltd increased its holdings in Borr Drilling by 2,837.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,811 shares of the company’s stock valued at $40,000 after buying an additional 9,477 shares during the last quarter. Inspire Advisors LLC purchased a new position in shares of Borr Drilling during the fourth quarter valued at approximately $44,000. Quadrature Capital Ltd bought a new position in shares of Borr Drilling during the fourth quarter valued at approximately $47,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Borr Drilling during the 4th quarter worth approximately $49,000. Finally, Abel Hall LLC purchased a new stake in Borr Drilling in the third quarter worth $43,000. Institutional investors own 83.12% of the company’s stock.

Key Stories Impacting Borr Drilling

Here are the key news stories impacting Borr Drilling this week:

• Positive Sentiment: Borr Drilling said it secured 13 contract commitments year-to-date, representing more than 2,250 days and $274 million of dayrate-equivalent backlog, which supports future utilization and revenue visibility. Borr Drilling Limited Announces First Quarter 2026 Results
• Positive Sentiment: The company also completed a $300 million convertible note offering after quarter-end, using proceeds mainly to repurchase existing 2028 convertible bonds, which may improve its near-term debt profile. Borr Drilling Limited Announces First Quarter 2026 Results
• Positive Sentiment: Trading in Borr Drilling shares was upgraded from Euronext Growth Oslo to the main Euronext Oslo Børs list, a step that can broaden visibility and liquidity for the stock. Borr Drilling Limited – Commencement of Trading on Euronext Oslo Børs and Publication of Prospectus
• Neutral Sentiment: There was also unusually heavy call-option activity in BORR, suggesting traders were positioning for a rebound or more volatility after earnings.
• Negative Sentiment: First-quarter EPS of $(0.09) missed estimates by a wide margin, and revenue of $247.0 million fell short of expectations, reinforcing concerns about near-term operating performance. Borr Drilling Limited Announces First Quarter 2026 Results
• Negative Sentiment: The company also posted a $29.0 million net loss and lower adjusted EBITDA versus the prior quarter, which likely weighed on investor sentiment. Borr Drilling Limited Announces First Quarter 2026 Results

Analyst Upgrades and Downgrades

BORR has been the subject of several research reports. Citigroup lifted their target price on Borr Drilling from $6.00 to $6.25 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Fearnley Fonds raised shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Borr Drilling from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings cut Borr Drilling from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Borr Drilling has a consensus rating of “Hold” and an average target price of $4.33.

About Borr Drilling

Borr Drilling is an international offshore drilling contractor providing premium jack-up drilling services to the oil and gas industry. Established in 2016 and incorporated in Bermuda with headquarters in Hamilton, the company is listed on the New York Stock Exchange under the ticker symbol BORR. Borr Drilling focuses exclusively on the ownership and operation of mobile offshore jack-up rigs, catering to exploration and production drilling projects in both mature and emerging hydrocarbon regions.

The company’s core business activities encompass the long-term contracting of high-specification jack-up rigs suitable for shallow-to-intermediate water depths.