Earnings ·
Valaris Limited reported second quarter 2026 financial results, posting total operating revenues of $539 million and…
VAL-WTValaris Ltd
Valaris Limited reported second quarter 2026 financial results, posting total operating revenues of $539 million and net income of $47 million, compared to a net loss of $18 million in the first quarter. Adjusted EBITDA reached $97 million, reflecting approximately $30 million in negative impacts from ongoing Middle East conflicts. The company successfully started two drillships, VALARIS DS-12 and DS-10, and added over $160 million of backlog for its North Sea jackup fleet. Valaris also sold two stacked jackups, VALARIS 104 and 109, generating $74 million in cash proceeds. The filing highlights the pending business combination with Transocean Ltd., which is expected to close in the fourth quarter of 2026. Valaris Limited operates in the offshore drilling services industry.