Every material Form 8-K Valaris filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Valaris furnished a fleet status report dated November 2, 2026, showing contract backlog of approximately $4.8 billion, up from $4.6 billion as of August 5, 2026. New awards and extensions since the last report added about $600 million, including a three-year bp service contract that adds about $290 million.
Contract backlog is approximately $4.8 billion, up from $4.6 billion as of August 5, 2026
Three-year bp service contract for Mad Dog and Thunder Horse platforms adds about $290 million
Semisubmersible VALARIS MS-1 was sold for recycling; jackup VALARIS 111 was sold to another buyer for conversion to a mobile offshore production unit
Valaris reported third quarter 2026 total operating revenues of $594 million, up from $539 million in the second quarter, and adjusted EBITDA of $151 million, up from $97 million. Net income of $47 million was roughly flat, and diluted earnings per share fell to $0.66 from $0.72. The company said its pending business combination with Transocean has received the required regulatory approvals and is expected to close on or about December 1, 2026, and that it does not plan to hold future earnings calls or update forward-looking guidance.
Total operating revenues $593.6 million vs. $539.2 million in Q2 2026; net income $46.7 million vs. $47.0 million
Diluted EPS $0.66 vs. $0.72 in Q2 2026; net income attributable to Valaris $46.1 million vs. $50.4 million
Middle East conflicts reduced adjusted EBITDA by about $24 million in Q3 2026, compared with $30 million in Q2 2026
Transocean combination expected to close on or about December 1, 2026; no future earnings calls or guidance updates planned
Valaris and Transocean filed a joint proxy statement on October 14, 2026 for the planned Transocean acquisition of Valaris, under which each Valaris share would be exchanged for 15.235 Transocean shares. Valaris and Transocean shareholder meetings are scheduled for November 24, 2026, and a Bermuda court sanction hearing is set for November 26, 2026, with completion anticipated on or about December 1, 2026. The filing gives no financial results, and completion still depends on shareholder and court approvals and other conditions.
Exchange ratio: 15.235 Transocean shares for each Valaris share under a Bermuda scheme of arrangement
Valaris Court Meeting and Transocean Meeting both scheduled for November 24, 2026
Bermuda Supreme Court sanction hearing scheduled for November 26, 2026; closing anticipated on or about December 1, 2026
Valaris reported second quarter 2026 total operating revenues of $539 million and net income of $47 million, compared with $465 million of revenue and a net loss of $18 million in the first quarter. Adjusted EBITDA rose to $97 million from $67 million, though the company said Middle East conflicts reduced it by about $30 million. The company also said it will not hold earnings calls or update forward-looking guidance while its pending business combination with Transocean is completed.
Total operating revenues $539 million, up from $465 million in Q1 2026
Net income $47 million versus a net loss of $18 million in Q1 2026; diluted EPS $0.72 versus $(0.24)
Adjusted EBITDA $97 million, including about $30 million of negative impacts from Middle East conflicts
Pending Transocean business combination expected to close in Q4 2026; no future earnings calls or guidance updates planned
Valaris reported a first quarter 2026 net loss of $18 million, or $0.24 per diluted share, on total operating revenues of $465 million, down 13% from the fourth quarter of 2025. The company said it will not hold future earnings calls or update forward-looking guidance while its all-stock transaction with Transocean, announced February 9, 2026, is pending.
Total operating revenues of $465 million, down from $537 million in Q4 2025
Net loss of $18 million ($0.24 per diluted share) versus net income of $717 million in Q4 2025, which included a $680 million tax benefit
Adjusted EBITDA of $67 million, down from $97 million in Q4 2025
Contract backlog of approximately $4.9 billion; no earnings calls or guidance updates planned during the pending Transocean transaction
Valaris reported fourth quarter 2025 total operating revenues of $537 million, down from $596 million in the third quarter, and adjusted EBITDA of $97 million, down from $163 million. Net income rose to $717 million, but it included a $680 million tax benefit, and the company gave FY 2026 guidance for revenue of $2,125 million to $2,205 million and adjusted EBITDA of $485 million to $565 million. Valaris also said it will not hold future earnings calls or update guidance because of the pending business combination with Transocean.
Total operating revenues were $537 million, versus $596 million in Q3 2025; diluted EPS was $10.26, versus $2.65.
Net income of $717 million included a $680 million tax benefit; adjusted EBITDA fell to $97 million from $163 million.
FY 2026 guidance: total operating revenues of $2,125 million to $2,205 million and adjusted EBITDA of $485 million to $565 million, excluding costs tied to the Transocean deal announced February 9, 2026.
Valaris will not hold future earnings calls or provide updates to forward-looking guidance.
Valaris and Transocean entered a Business Combination Agreement on February 9, 2026, under which Transocean will acquire all Valaris shares in exchange for Transocean shares at 15.235 Transocean shares per Valaris share, effected by a Bermuda scheme of arrangement. After closing, Transocean shareholders would own about 53% of the combined company and Valaris shareholders about 47%, so Valaris holders would give up control to Transocean's existing investor base.
Exchange ratio of 15.235 Transocean shares for each Valaris share, with Transocean shares issued under the Securities Act Section 3(a)(10) exemption.
Post-closing ownership: about 53% Transocean shareholders and about 47% Valaris shareholders.
Termination fees: $195 million payable by Transocean and $173 million payable by Valaris in specified circumstances; the agreement can be terminated if closing has not occurred by February 9, 2027.
Closing requires shareholder approvals from both companies, a Bermuda court sanction order, NYSE listing approval for the new shares, and certain regulatory approvals.
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Valaris filing is on SEC EDGAR ↗. 8-K briefs of other companies →