---
schema_version: "secwatch.filing_event.v1"
accession: "0000314808-24-000121"
form_type: "8-K"
ticker: "VAL"
cik: "0000314808"
company_name: "Valaris Ltd"
filed_at: "2024-07-31T23:59:59+00:00"
generated_at: "2026-05-31T14:34:29.456676+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Valaris Q2 net income $151M vs $26M Q1; backlog tops $4.3B

## Summary
- Net income of $151M vs $26M in Q1; Adjusted EBITDA $139M vs $54M Q1.
- Revenue $610M (+16% QoQ); revenue efficiency 99% with no lost time incidents.
- Contract backlog >$4.3B at July 29 (+42% YoY); new $500M Equinor contract for VALARIS DS-17 offshore Brazil.
- Capital expenditures $110M; cash $410M (down from $509M due to capex).
- CEO expects significant earnings and cash flow growth; all future free cash flow to be returned to shareholders.

## SEC filing metadata
- accession: 0000314808-24-000121
- form_type: 8-K
- ticker: VAL
- cik: 0000314808
- company_name: Valaris Ltd
- filed_at: 2024-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314808/000031480824000121/0000314808-24-000121-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314808/000031480824000121/val-20240731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000314808-24-000121
- JSON: https://secwatch.observer/filing/0000314808-24-000121.json
- Plain text: https://secwatch.observer/filing/0000314808-24-000121.txt

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