Valaris Q1 net loss of $39 million on $167 million tax charge; revenue up 6%
Valaris reported first quarter 2025 total operating revenues of $621 million, up from $584 million in the fourth quarter, and Adjusted EBITDA of $181 million, up from $142 million. The company posted a net loss of $39 million, driven by $167 million of discrete tax expense tied to a valuation allowance on deferred tax assets after its decision to retire three semisubmersibles. Shareholders face a mixed picture: operating results improved, while the one-time tax charge turned a fourth quarter net income of $131 million into a loss.
Key points
- Total operating revenues $621 million, with revenue efficiency of 96%
- Net loss of $39 million, including $167 million of discrete tax expense; fourth quarter 2024 net income was $131 million
- Adjusted EBITDA of $181 million, versus $142 million in the fourth quarter 2024
- Contract backlog rose nearly 20% to more than $4.2 billion, with about $1.0 billion of new contracts since February
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:05 AM ET, from the text of the filing and its press-release exhibits 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 April 30, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.