secwatch.observer — SEC 8-K summary
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Issuer:     Valaris Ltd (VAL)
CIK:        0000314808
Form:       8-K
Filed at:   2026-05-04T23:59:59+00:00
Accession:  0000314808-26-000097
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Valaris Q1 net loss $18M; backlog hits $4.9B; Transocean deal pending
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- 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%).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314808/000031480826000097/0000314808-26-000097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314808/000031480826000097/val-20260504.htm
  HTML page:      https://secwatch.observer/filing/0000314808-26-000097

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer