{"schema_version":"secwatch.filing_event.v1","accession":"0000314808-24-000059","form_type":"8-K","ticker":"VAL","cik":"0000314808","company_name":"Valaris Ltd","filed_at":"2024-05-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:21.522338+00:00","generated_at":"2026-06-03T01:01:25.892883+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Valaris Q1 net income $26M, revenue $525M; contract backlog tops $4.0B, up 43% YoY","bullets":["Net income $26M, revenue $525M (up 9% QoQ); fleetwide revenue efficiency 97%.","Adjusted EBITDA $54M, Adjusted EBITDAR $84M; net income down vs Q4 due to $790M tax benefit in prior quarter.","New contracts/extensions with backlog >$520M; total backlog >$4.0B, 6th consecutive quarterly increase.","Floaters segment revenue $324M (+23% QoQ) driven by VALARIS DS-8 reactivation; jackup revenue down 15% due to idle time for contract prep.","Capital expenditures $151M; cash $509M; company plans to return all future free cash flow to shareholders."],"urls":{"canonical":"https://secwatch.observer/filing/0000314808-24-000059","json":"https://secwatch.observer/filing/0000314808-24-000059.json","markdown":"https://secwatch.observer/filing/0000314808-24-000059.md","text":"https://secwatch.observer/filing/0000314808-24-000059.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/314808/000031480824000059/0000314808-24-000059-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/314808/000031480824000059/val-20240501.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T01:01:25.892883+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":"b8b3e50ab1b99901384cd57a9f0941b620efd7c5","claim":"Valaris Ltd reported first quarter 2024 results: revenue $525 million, net income $26 million.","evidence_excerpt":"quarter, partially offset by more operating days for the floater fleet. Adjusted EBITDAR decreased to $84 million from $96 million in the fourth quarter. Revenues increased to $525 million from $484 million in the fourth quarter 2023. Excluding reimbursable items, revenues increased to $491 million from $453 million in the fourth quarter primarily due to VALARIS","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/314808/000031480824000059/0000314808-24-000059-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter 2024"},{"label":"Revenue","value":"$525 million"},{"label":"Net income","value":"$26 million"},{"label":"Result","value":"reported results"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}