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Valaris Limited — Third Quarter 2026 Earnings Summary

  • Total operating revenues increased 10% quarter-over-quarter to $594 million, while adjusted EBITDA surged 56% to $151 million; net income remained flat at $47 million.
  • Pending business combination with Transocean received regulatory approvals and is anticipated to close on or about December 1, 2026.
  • Contract backlog grew by approximately $600 million to reach $4.8 billion, with all ten active drillships now under contract and day rates trending higher.
  • Management will not hold future earnings calls or provide forward-looking guidance updates due to the pending transaction.
  • Middle East conflicts reduced adjusted EBITDA by approximately $24 million in the quarter, though adverse impacts are moderating due to lower war-risk insurance costs.
Company
VALARIS LTD
Sector
Energy
Industry
Oil & Gas Equipment & Services