Valaris Q4 net income $131M; Adjusted EBITDA $142M; adds $120M backlog; to retire three semisubs

Valaris Ltd

2024-FY EPS reported $5.12 revenue$2,362,600,000

Net income $131M, up from $63M in Q3; Adjusted EBITDA $142M, down from $150M sequentially.
Revenue excl. reimbursables $548M (-9% QoQ); fleet revenue efficiency 96% in Q4, 97% for 2024.
Generated $125M cash from ops; Free Cash Flow $13M; repurchased $25M of shares in Q4.
Secured ~$120M backlog including multi-year North Sea jackup contract for VALARIS Stavanger.
Announced retirement of semisubmersibles DPS-3, DPS-5, DPS-6 and sale of jackup VALARIS 75 for $24M.

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