Valaris Q1 net loss $18M; backlog hits $4.9B; Transocean deal pending

Valaris Ltd

2026-Q1 EPS reported -$0.24 revenue$465,400,000

Q1 total operating revenues $465M, net loss of $18M vs. prior quarter net income of $717M.
Adjusted EBITDA of $67M, down from $97M in Q4 2025; revenue efficiency 98%.
Added over $500M contract backlog since Q4; total backlog ~$4.9B, highest in nearly a decade.
All-stock merger with Transocean announced Feb 9, 2026; $14M merger & integration expenses in Q1.
Floater revenues $193M (-25% QoQ); jackup revenues $196M (-6%); ARO revenues $127M (-9%).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Valaris Ltd reported First Quarter 2026 results: revenue $465 million, net income Net loss of $18 million.

Period: First Quarter 2026
Revenue: $465 million
Net income: Net loss of $18 million
Result: reported results

Exact text from the filing

Total operating revenues of $465 million and a net loss of $18 million

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Source: SEC EDGAR

accession 0000314808-26-000097

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