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AI brief of an SEC Form 8-K · Valaris (VAL)

Valaris posts Q4 net income of $829 million, boosted by $790 million tax benefit

Positive Impact 4 of 5 earnings Written later

Valaris reported fourth quarter 2023 results in a press release dated February 21, 2024. Revenue rose to $484 million from $455 million in the third quarter, and net income rose to $829 million, which included a $790 million tax benefit, while the board doubled the share repurchase authorization to $600 million from $300 million.

Key points

  • Net income was $829 million in Q4 2023, up from $17 million in Q3 2023, including a $790 million tax benefit
  • Revenue rose to $484 million from $455 million; Adjusted EBITDA rose to $58 million from $40 million
  • Total contract backlog was more than $3.9 billion as of February 15, 2024, and the share repurchase authorization was raised to $600 million from $300 million

The filing

CompanyValaris (VAL)
Form8-K, current report
Filed with the SECFeb 22, 2024, 7:28 AM ET
Accession number0000314808-24-000011

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 22, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.