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Borr Drilling Limited Announces First Quarter 2024 Results

HAMILTON, Bermuda, May 23, 2024 /PRNewswire/ -- Borr Drilling Limited ("Borr", "Borr Drilling" or the "Company") announces unaudited results for the three months ended March 31, 2024. Highlights Total operating revenues of $234.0 million, an increase of $13.4 million or 6% compared to the fourth quarter of 2023. Net income of $14.4 million, a decrease of $14.0 million compared to the fourth quarter of 2023. Adjusted EBITDA of $116.8 million, an increase of $5.3 million or 5% compared to the fourth quarter of 2023. Raised $200 million of additional principal amount of debt under the 2028 Senior Secured Notes.  Year to date of report, the Company has been awarded eleven new contract commitments, representing 1,743 days and $318 million of potential contract revenue, including five new contract commitments signed after the end of the first quarter of 2024. On May 22, 2024, the Board declared an increase in cash dividend to $0.10 per share for the first quarter of 2024 to be paid ...