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Valaris Limited — Third Quarter 2026 Earnings Summary

Valaris Limited reported third-quarter 2026 net income of $47 million and adjusted EBITDA of $151 million, driven by increased fleet utilization and higher day rates for its floater fleet. The company successfully returned four drillships to work and achieved a revenue efficiency of 97% for the quarter, while adding approximately $600 million in new contract backlog to reach a total of $4.8 billion. Despite a $24 million negative impact from Middle East conflicts, the outlook remains positive with all ten active drillships now under contract and a pending business combination with Transocean expected to close in early December 2026.

Company
VALARIS LTD
Sector
Energy
Industry
Oil & Gas Equipment & Services