Valaris Q2 net income $47M, Adj. EBITDA $97M; Middle East conflicts hit $30M

Valaris Ltd

Net income of $47M vs net loss of $18M in Q1 2026; revenue $539M, up 16% QoQ.
Adjusted EBITDA $97M includes ~$30M negative impact from Middle East conflicts.
Revenue efficiency 98%; drillships VALARIS DS-12 and DS-10 started new contracts on schedule.
Added >$160M backlog for North Sea jackups; sold stacked jackups VALARIS 104 and 109 for $74M total.
Pending merger with Transocean on track to close Q4 2026; no future earnings calls.

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