---
schema_version: "secwatch.filing_event.v1"
accession: "0000314808-22-000126"
form_type: "8-K"
ticker: "VAL"
cik: "0000314808"
company_name: "Valaris Ltd"
filed_at: "2022-11-01T23:59:59+00:00"
generated_at: "2026-06-22T19:40:01.901184+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Valaris Q3 net income $78M, adjusted EBITDA $76M; revenue up 6% to $437M

## Summary
- Net income $78M (Q2: $113M); adjusted EBITDA $76M ($29M in Q2); revenue $437M (+6% QoQ).
- Won contracts/additions adding >$250M backlog; floater contracts offshore Brazil and Mexico.
- Sold 40-year old jackup VALARIS 54 for $28.5M; expected close March 2023 upon contract completion.
- Received $40M partial early repayment of ARO shareholder notes; remaining balance $403M.
- Q3 operating income $61.6M vs. loss of $15.6M in Q2; no impairment loss.

## SEC filing metadata
- accession: 0000314808-22-000126
- form_type: 8-K
- ticker: VAL
- cik: 0000314808
- company_name: Valaris Ltd
- filed_at: 2022-11-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314808/000031480822000126/0000314808-22-000126-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314808/000031480822000126/val-20221031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000314808-22-000126
- JSON: https://secwatch.observer/filing/0000314808-22-000126.json
- Plain text: https://secwatch.observer/filing/0000314808-22-000126.txt

## Key facts
- Earnings Releases
  Valaris Ltd reported Third Quarter 2022 results: revenue $437 million, net income $78 million.
  - Period: Third Quarter 2022
  - Revenue: $437 million
  - Net income: $78 million
  - Result: reported results
  source text: EBITDA increased to $76 million from $29 million in the second quarter. Adjusted EBITDAR increased to $94 million from $54 million in the second quarter. Revenues increased to $437 million from $413 million in the second quarter 2022. Excluding reimbursable items, revenues increased to $416 million from $385 million in the second quarter. The increase was primarily
  evidence_url: https://www.sec.gov/Archives/edgar/data/314808/000031480822000126/0000314808-22-000126-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.