Valaris Q3 net income $63M, revenue $643M; repurchases $100M, adds $168M backlog

Valaris Ltd

2024-Q3 EPS reported $3.26 revenue$1,778,200,000

Net income fell to $63M from $151M in Q2, driven by $24M tax expense vs $30M benefit.
Revenue up 5% to $643M; Adjusted EBITDA +8% to $150M; cash from ops $193M, FCF $111M.
Repurchased $100M of shares in Q3; cash and equivalents $392M at Sep 30.
Full quarter operations for drillship DS-7; awarded $168M contract extension for jackup 118.
ARO Drilling revenues down 8%; recorded $28.4M impairment; two contract suspensions terminated.

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