Borr Drilling Second Quarter 2024 Earnings: EPS: US$0.13 (vs US$0.003 in 2Q 2023)

Borr Drilling (OB:BORR) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$271.9m (up 45% from 2Q 2023).
• Net income: US$31.7m (up by US$30.9m from 2Q 2023).
• Profit margin: 12% (up from 0.4% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.13 (up from US$0.003 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Borr Drilling Earnings Insights

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Energy Services industry in Norway.

Performance of the Norwegian Energy Services industry.

The company's shares are up 9.5% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Borr Drilling (at least 1 which is a bit unpleasant), and understanding these should be part of your investment process.

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