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

Valaris Q3 revenue rises to $643 million, but net income falls to $63 million

Mixed Impact 3 of 5 earnings Written later

Valaris Limited reported third quarter 2024 results on October 30, 2024. Revenue rose to $643 million from $610 million in the second quarter and Adjusted EBITDA rose to $150 million from $139 million, while net income fell to $63 million from $151 million, with a $24 million tax expense compared with a $30 million tax benefit in the prior quarter. The company also repurchased $100 million of shares during the quarter.

Key points

  • Revenue $643 million vs. $610 million in Q2 2024; Adjusted EBITDA $150 million vs. $139 million
  • Net income $63 million vs. $151 million in Q2 2024; net income included $24 million of tax expense
  • Repurchased $100 million of shares in the third quarter; free cash flow of $111 million
  • Three-year contract extension for VALARIS 118 added $168 million of contract backlog

The filing

CompanyValaris (VAL)
Form8-K, current report
Filed with the SECOct 30, 2024, 4:39 PM ET
Accession number0000314808-24-000162

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 October 30, 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.