Stock Track | Borr Drilling Plunges After Q3 Earnings Miss, Lowered Guidance

Stock Track

Nov 07, 2024

Shares of Borr Drilling Ltd (NYSE: BORR) plummeted in after-hours trading on Monday, November 6th, following the company's disappointing third-quarter results and lowered full-year guidance.

The offshore drilling contractor reported Q3 2024 earnings of $0.04 per share, missing analysts' consensus estimate of $0.09 by a wide margin. Additionally, Borr Drilling's total revenue of $241.6 million fell short of the $246.1 million expected by Wall Street.

The company's CEO, Patrick Schorn, acknowledged the solid operational performance during the quarter but cited one-time factors that weighed on financial results compared to the previous quarter. These included the change in operating structure for contracts in Mexico and the suspension of the "Arabia I" rig.

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Additionally, Borr Drilling's total revenue of $241.6 million fell short of the $246.1 million expected by Wall Street.</p>\n\n<p>The company's CEO, Patrick Schorn, acknowledged the solid operational performance during the quarter but cited one-time factors that weighed on financial results compared to the previous quarter. These included the change in operating structure for contracts in Mexico and the suspension of the \"Arabia I\" rig.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BORR","symbol_name":"Borr Drilling Ltd","start_time":0,"source_url":"","article_id":"1147150350","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1147150350","pubTimestamp":1730931162,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Borr Drilling Ltd  plummeted in after-hours trading on Monday, November 6th, following the company's disappointing third-quarter results and lowered full-year guidance.The offshore drilling contractor reported Q3 2024 earnings of $0.04 per share, missing analysts' consensus estimate of $0.09 by a wide margin. 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