{"schema_version":"secwatch.filing_event.v1","accession":"0000314808-23-000127","form_type":"8-K","ticker":"VAL","cik":"0000314808","company_name":"Valaris Ltd","filed_at":"2023-11-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.619738+00:00","generated_at":"2026-06-08T17:57:51.086530+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Valaris Q3 net income $17M vs loss; revenue up 10%; $465M new contract backlog","bullets":["Net income $17M (Q2 net loss $27M); adjusted EBITDA $40M (Q2 $15M).","Revenue $455M (+10% QoQ); fleetwide revenue efficiency 94% in quarter, 97% YTD.","Awarded $465M contract backlog in Q3; additional $335M post-quarter; drillship reactivations ongoing.","Executed $400M add-on 8.375% second lien notes due 2030 to fund newbuild drillship purchases.","Repurchased $85M shares in Q3, $171M YTD; on track for $200M 2023 target."],"urls":{"canonical":"https://secwatch.observer/filing/0000314808-23-000127","json":"https://secwatch.observer/filing/0000314808-23-000127.json","markdown":"https://secwatch.observer/filing/0000314808-23-000127.md","text":"https://secwatch.observer/filing/0000314808-23-000127.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/314808/000031480823000127/0000314808-23-000127-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/314808/000031480823000127/val-20231106.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T17:57:51.086530+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7703a751342ac66eb3563d25d9aba68954149911","claim":"Valaris Ltd reported Third Quarter 2023 results: revenue $455 million, net income $17 million.","evidence_excerpt":"and an increase in unplanned downtime related to several floaters. Adjusted EBITDAR increased to $91 million from $59 million in the second quarter. 1 Revenues increased to $455 million from $415 million in the second quarter 2023. Excluding reimbursable items, revenues increased to $427 million from $388 million in the second quarter. The increase was primarily","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/314808/000031480823000127/0000314808-23-000127-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Third Quarter 2023"},{"label":"Revenue","value":"$455 million"},{"label":"Net income","value":"$17 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}