Why Borr Drilling Rallied Today [Yahoo! Finance]
Borr Drilling Limited Common Shares (BORR)
Company Research
Source: Yahoo! Finance
The company, which contracts offshore oil and gas jack-up rigs for shallow water drilling, reported earnings this morning. But while the actual first-quarter profits may have underwhelmed, revenue beat estimates. Furthermore, management's projections for the year and decision to double the company's dividend seem to have overwhelmed all other considerations. Investors cheer a doubled dividend, now yielding 6.2% For Q1, Borr reported $234 million in revenue, above the consensus estimate of $230 million, though earnings per share of $0.06 missed estimates of $0.15. While the bottom line may have missed due to some unforeseen costs, it was still encouraging to see the company grow revenue, and for profits to flip into positive territory from a small loss in the year-ago quarter. Furthermore, management's commentary and forward-looking projections were much more encouraging. Despite the Q1 profit miss, management still reiterated its full-year adjusted earnings before interest, tax
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BORR
News
- Borr Drilling: Generous Dividend Increase Is A Strong Sign Of Confidence - Hold [Seeking Alpha]Seeking Alpha
- Borr Drilling Limited - Notice of Annual General Meeting 2024PR Newswire
- Borr Drilling Limited - 2024 Annual General Meeting date [Yahoo! Finance]Yahoo! Finance
- Borr Drilling Limited - 2024 Annual General Meeting datePR Newswire
- Borr Drilling Limited - Q1 2024 PresentationPR Newswire
BORR
Sec Filings
- 6/7/24 - Form 6-K
- 6/3/24 - Form 6-K
- 5/28/24 - Form 6-K
- BORR's page on the SEC website