Borr Drilling Reports Second Quarter 2026 Results
Borr Drilling Limited announced its second quarter 2026 financial results, reporting total operating revenues of $232.3 million and a net loss of $241.4 million.
Hamilton, Bermuda – August 11, 2026 – Offshore drilling contractor Borr Drilling Limited released its unaudited financial results for the second quarter of 2026 on Tuesday. The company reported a decrease in revenue compared to the previous quarter.
Total operating revenues for the second quarter stood at $232.3 million, a decline of $14.7 million, or 6%, from the first quarter of 2026. The company recorded a net loss of $241.4 million for the quarter, a significant increase from the $29.0 million net loss reported in the first quarter.
The substantial increase in net loss was primarily attributed to a $176.3 million debt extinguishment charge. This charge resulted from the refinancing of the company's senior secured notes due in 2028.
Borr Drilling operates a fleet of offshore drilling rigs and is listed on the New York Stock Exchange and the Oslo Stock Exchange under the ticker BORR.