Valaris Q2 net income $114 million vs $39 million loss; Adjusted EBITDA beats guidance
Valaris reported second quarter 2025 net income of $114 million, compared with a net loss of $39 million in the first quarter, on total operating revenues of $615 million, down slightly from $621 million. Adjusted EBITDA of $201 million exceeded the company's prior guidance of $140 million to $160 million, and contract backlog rose to approximately $4.7 billion after more than $1.0 billion of new awards.
Key points
- Net income of $114 million vs. a net loss of $39 million in Q1 2025; Q1 included $167 million of discrete tax expense
- Adjusted EBITDA of $201 million vs. guidance of $140 million to $160 million, aided by a $24 million benefit from an arbitration outcome
- Total backlog of approximately $4.7 billion after more than $1.0 billion of new contracts since April
- Agreed to sell jackup VALARIS 247 for cash proceeds of approximately $108 million
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 July 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.