Shares of Borr Drilling Ltd rose 5.70% in the after-hours session on Wednesday, following the release of the company's fourth-quarter financial results.
Borr Drilling reported Q4 revenue of $263.1 million, a strong performance driven by robust operations and high demand for its drilling services. The company also posted a net income of $26.3 million for the quarter, reflecting its solid profitability.
Perhaps most notably, Borr Drilling's adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) came in at an impressive $136.7 million for the fourth quarter. This strong EBITDA figure suggests that the company's underlying business fundamentals are sound, and it is generating healthy cash flows from its operations.
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