secwatch.observer — SEC 8-K summary
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Issuer:     Valaris Ltd (VAL)
CIK:        0000314808
Form:       8-K
Filed at:   2024-10-30T23:59:59+00:00
Accession:  0000314808-24-000162
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314808/000031480824000162/0000314808-24-000162-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314808/000031480824000162/val-20241030.htm
  HTML page:      https://secwatch.observer/filing/0000314808-24-000162

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