---
schema_version: "secwatch.filing_event.v1"
accession: "0000314808-26-000097"
form_type: "8-K"
ticker: "VAL"
cik: "0000314808"
company_name: "Valaris Ltd"
filed_at: "2026-05-04T23:59:59+00:00"
generated_at: "2026-05-15T00:07:28.348987+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%).

## SEC filing metadata
- accession: 0000314808-26-000097
- form_type: 8-K
- ticker: VAL
- cik: 0000314808
- company_name: Valaris Ltd
- filed_at: 2026-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314808/000031480826000097/0000314808-26-000097-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314808/000031480826000097/val-20260504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000314808-26-000097
- JSON: https://secwatch.observer/filing/0000314808-26-000097.json
- Plain text: https://secwatch.observer/filing/0000314808-26-000097.txt

## Key facts
- Earnings Releases
  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
  source text: Total operating revenues of $465 million and a net loss of $18 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/314808/000031480826000097/0000314808-26-000097-index.htm

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