Earnings summaries and quarterly performance for Valaris.
Executive leadership at Valaris.
Anton Dibowitz
Detailed
President and Chief Executive Officer
CEO
Chris Weber
Senior Vice President and Chief Financial Officer
Davor Vukadin
Senior Vice President, General Counsel and Secretary
Gilles Luca
Senior Vice President and Chief Operating Officer
Matthew Lyne
Senior Vice President and Chief Commercial Officer
Board of directors at Valaris.
Research analysts who have asked questions during Valaris earnings calls.
David Smith
Truist Securities
5 questions for VAL
Also covers: AESI, BK, CLB +19 more
Fredrik Stene
Clarksons Securities
5 questions for VAL
Also covers: BORR, NE, RIG +2 more
Edward Kim
TD Cowen
4 questions for VAL
Also covers: AESI, HP, LBRT +5 more
Gregory Lewis
BTIG, LLC
4 questions for VAL
Also covers: BLBD, BTDR, CIFR +26 more
Joshua Jayne
Daniel Energy Partners
4 questions for VAL
Also covers: AESI, AROC, CLB +17 more
Eddie Kim
Barclays
3 questions for VAL
Also covers: AESI, BORR, HP +6 more
Kurt Hallead
The Benchmark Company
3 questions for VAL
Also covers: AESI, BKR, FTI +14 more
Douglas Becker
Capital One
2 questions for VAL
Also covers: BORR, HAL, HP +5 more
Arun Jayaram
JPMorgan Chase & Co.
1 question for VAL
Also covers: APA, AR, BKR +33 more
Recent press releases and 8-K filings for VAL.
Valaris Reports Q3 2025 Results and Provides Q4 2025 Guidance
VAL
Earnings
Share Buyback
Guidance Update
- Valaris reported Q3 2025 adjusted EBITDA of $163 million and adjusted free cash flow of $237 million, with total revenues of $596 million.
- The company repurchased $75 million of shares during Q3 2025 at an average price of $49 per share.
- For Q4 2025, Valaris anticipates total revenues between $495 million and $515 million and adjusted EBITDA between $70 million and $90 million.
- Valaris secured a contract for the Valaris DS-12 with BP Offshore Egypt, valued at approximately $140 million for an estimated 350 days, commencing mid-Q2 2026, which means all four drillships with near-term availability are now contracted for work beginning next year.
- The company expects global drillship utilization to trough late 2025 or early 2026, with seventh-generation drillships reaching around 90% utilization by the end of 2026, and day rates for high-spec ships having largely troughed in the high $300,000s to low-to-mid $400,000s.
Oct 30, 2025, 2:00 PM
Valaris Reports Strong Backlog and FY 2025 EBITDA Guidance
VAL
Earnings
Guidance Update
Share Buyback
- Valaris reported a contract backlog of $4.5 billion as of October 23, 2025, and provided FY 2025 EBITDA guidance of $615-635 million.
- The company maintains a strong financial position with $676 million in cash and cash equivalents and 0.6x net leverage.
- Valaris has a high-specification fleet, with 92% of its drillship fleet being 7th generation assets (12 of 13), and has achieved 96%+ revenue efficiency for four consecutive years.
- The company has added ~$1.4 billion in drillship backlog and ~$830 million in jackup backlog year-to-date 2025, with its active jackup fleet having 79% contract coverage for 2026.
- Valaris intends to return all future free cash flow to shareholders, having already returned $400 million through its share repurchase program since 2023.
Oct 30, 2025, 2:00 PM
Valaris Reports Strong Q3 2025 Financial Results and Provides Q4 Outlook
VAL
Earnings
Guidance Update
Share Buyback
- Valaris reported Q3 2025 revenues of $596 million and adjusted EBITDA of $163 million, exceeding its guidance range of $120 million-$140 million. The company also generated $237 million in adjusted free cash flow.
- For Q4 2025, Valaris anticipates total revenues between $495 million and $515 million and adjusted EBITDA between $70 million and $90 million.
- The company repurchased $75 million of shares at an average price of $49/share during Q3 2025, ending the quarter with $676 million in cash and cash equivalents.
- Valaris secured a five-well contract for Valaris DS-12 with BP Offshore Egypt for approximately $140 million, commencing mid-Q2 2026, and all four drillships with near-term availability are now contracted for work beginning next year. The company added over $2.2 billion in contracted revenue backlog year-to-date, bringing the total backlog to $4.5 billion.
Oct 30, 2025, 2:00 PM
Valaris Reports Strong Q3 2025 Results and Provides Q4 Guidance
VAL
Earnings
Guidance Update
Share Buyback
- Valaris reported Q3 2025 revenues of $596 million and Adjusted EBITDA of $163 million, exceeding its guidance range. The company generated $237 million in adjusted free cash flow and repurchased $75 million of shares during the quarter.
- For Q4 2025, Valaris anticipates total revenues between $495 million and $515 million and Adjusted EBITDA between $70 million and $90 million. The midpoint of this guidance implies a full-year adjusted EBITDA of approximately $625 million.
- The company secured a contract for Valaris DS-12 with BP Offshore Egypt, ensuring all four drillships with near-term availability are now contracted for work beginning next year. Valaris added nearly $200 million to its contract backlog since the Q2 call, bringing the total backlog to $4.5 billion.
- The long-term outlook for the offshore drilling market is constructive, with 7th-generation drillship utilization projected to reach approximately 90% by the end of 2026. The company also completed the sale of jackup Valaris 247 for $108 million in cash.
Oct 30, 2025, 2:00 PM
Valaris Reports Third Quarter 2025 Results
VAL
Earnings
Share Buyback
New Projects/Investments
- Valaris reported total operating revenues of $596 million and net income of $187 million for the third quarter of 2025.
- Adjusted EBITDA for Q3 2025 was $163 million, with cash from operating activities at $198 million and Adjusted Free Cash Flow at $237 million.
- The company repurchased $75 million of shares and completed the sale of jackup VALARIS 247 for $108 million in cash proceeds.
- Valaris secured a contract for VALARIS DS-12, resulting in all four active drillships with near-term availability now being contracted for work beginning next year.
Oct 29, 2025, 8:15 PM
Valaris Reports Third Quarter 2025 Results
VAL
Earnings
Share Buyback
New Projects/Investments
- Valaris reported total operating revenues of $595.7 million, net income of $187.3 million, and Adjusted EBITDA of $163.2 million for the third quarter of 2025.
- The company generated $198.1 million in cash from operating activities and $237.0 million in Adjusted Free Cash Flow during Q3 2025.
- Valaris repurchased $75 million of shares and completed the sale of jackup VALARIS 247 for $108.7 million in cash proceeds in the third quarter of 2025.
- A contract was secured for VALARIS DS-12 with bp offshore Egypt, resulting in all four active drillships with near-term availability now being contracted for work beginning next year.
Oct 29, 2025, 8:14 PM
Valaris Secures Contract for Drillship VALARIS DS-12
VAL
New Projects/Investments
- Valaris Limited has been awarded a five-well contract for its drillship VALARIS DS-12 with Bp Exploration Delta Limited in Egypt.
- The contract is valued at approximately $140 million, inclusive of a mobilization fee, and has an estimated duration of 350 days.
- Operations are expected to commence in the second quarter 2026, and the contract also includes three option wells.
- This award means Valaris has now contracted all four of its drillships with near-term availability.
Oct 13, 2025, 12:30 PM
Valaris Updates on Fleet, Market Outlook, and Shareholder Returns
VAL
Guidance Update
Share Buyback
M&A
- Valaris, the largest offshore driller, has increased its contract backlog to $4.7 billion, the highest in a decade, by adding over $2 billion in new contracts this year, including $1.3 billion from drillships. This led to an increase in the midpoint of its guidance by $55 million to $585 million.
- The company has successfully secured contracts for three of its four drillships with near-term availability at day rates over $400,000 a day.
- Valaris anticipates seventh-generation drillship utilization to exceed 90% by the end of 2026, which is expected to drive positive pricing momentum through 2026 and into 2027.
- The jackup fleet, including the ARO Drilling JV, demonstrates strong contract coverage, with 70% for 2026 and 60% for 2027, and five rigs in the JV extended through 2030 at increased rates.
- Valaris's capital allocation philosophy prioritizes returning sustained cash generation to shareholders, with the recent sale of the Valaris 247 for over $100 million enhancing flexibility for capital returns.
Sep 2, 2025, 7:06 PM
Valaris Outlines Strategic Positioning and Positive Market Outlook
VAL
Guidance Update
New Projects/Investments
Share Buyback
- Valaris (VAL) is the largest offshore driller by fleet size, operating 48 rigs, including 15 high-spec floaters and 33 jackups, with 92% of its drillship fleet being 7th generation assets.
- The company provided FY 2025 EBITDA guidance of $565-605 Million and reported a contract backlog of $4.7 Billion as of July 24, 2025, marking its highest backlog this decade.
- Valaris maintains a strong operational track record, achieving revenue efficiency of at least 96% for four consecutive years and demonstrating safety performance more than 50% better than the offshore peer group average in 2024.
- The company's capital allocation strategy prioritizes maintaining a strong balance sheet with 0.9x net leverage and $891 million liquidity, prudent fleet management, and returning free cash flow to shareholders, having returned $325 million since the start of its share repurchase program in 2023.
- The market outlook indicates that deepwater capital expenditures and project sanctioning are expected to increase significantly over the next few years, with benign environment floater demand projected to rise from the second half of 2026.
Aug 29, 2025, 11:00 AM
Valaris Ltd Q1 2025: Strong Performance, Earnings, and Contract Wins
VAL
Earnings
New Projects/Investments
Guidance Update
- Strong financial performance with total revenues increasing to $621 million, adjusted EBITDA of $181 million, and adjusted net income of $128 million despite a net loss .
- Robust contract wins: Over $1 billion in new contract backlog additions for high-spec drillships in key regions and a total contract backlog of $4.2 Billion, underscoring strong order intake .
- FY 2025 guidance: EBITDA guidance set at $500-560 Million, reflecting revenue potential .
- Operational excellence: Achieved 96% revenue efficiency (maintained over four consecutive years) and improved safety metrics .
- Strategic capital allocation: Low net leverage (1.3x) and $829 million liquidity support disciplined fleet management and robust shareholder cash flow .
May 1, 2025, 2:01 PM
Quarterly earnings call transcripts for Valaris.
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