---
schema_version: "secwatch.filing_event.v1"
accession: "0000314808-25-000072"
form_type: "8-K"
ticker: "VAL"
cik: "0000314808"
company_name: "Valaris Ltd"
filed_at: "2025-04-30T23:59:59+00:00"
generated_at: "2026-05-23T02:51:10.143420+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Valaris Q1 2025: Net loss $39M (incl. $167M tax charge), Adj. EBITDA $181M, backlog $4.2B

## Summary
- Revenue $621M, revenue efficiency 96%; sequential revenue up from $584M in Q4 2024.
- Net loss $39M vs Q4 net income $131M due to $167M discrete tax expense from valuation allowance on semisub retirements.
- Adjusted EBITDA $181M, up 27% from $142M in Q4 2024, driven by higher floater revenues.
- Secured ~$1.0B in new contract backlog; total backlog increased to >$4.2B, up ~20% since Feb fleet report.
- Sold semisubs DPS-3/5/6 for recycling; incurred $8M impairment loss; cash and equivalents rose to $454M.

## SEC filing metadata
- accession: 0000314808-25-000072
- form_type: 8-K
- ticker: VAL
- cik: 0000314808
- company_name: Valaris Ltd
- filed_at: 2025-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314808/000031480825000072/0000314808-25-000072-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314808/000031480825000072/val-20250430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000314808-25-000072
- JSON: https://secwatch.observer/filing/0000314808-25-000072.json
- Plain text: https://secwatch.observer/filing/0000314808-25-000072.txt

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