NYSE$VAL
Valaris Limited · Q1 2026 earnings
Q1 2026 earnings · · After market close · Investor relations
Briefing
Valaris reported Q1 2026 operating revenues of $465.4M and a net loss attributable to shareholders of $16.4M, with diluted loss per share of $0.24.
For the quarter ended March 31, 2026, Valaris posted operating revenues of $465.4 million (including $430.1 million of drilling revenues, down from $577.8 million a year ago) and operating income of $20.0 million versus $143.0 million in Q1 2025. The company reported a net loss of $18.0 million; net loss attributable to Valaris was $16.4 million, or $0.24 per share diluted, compared with a $37.9 million loss a year ago. Contract drilling expenses fell on fewer floater operating days, partly offset by higher war-risk insurance on Middle East jackups.
- Operating revenues $465.4M; drilling revenues $430.1M (-26% YoY).
- Operating income $20.0M vs. $143.0M prior year on softer day rates and rig mix.
- Net loss attributable to Valaris $(16.4)M; diluted EPS $(0.24) vs. $(0.53).
- Pending Business Combination with Noble Corporation remains a strategic focus in MD&A.
- Jackup and floater utilization trends and reimbursable revenue discussed in segment results.
Headline financials
Revenue & EPS history
Valaris · Revenue · Quarterly
$465M
Revenue by segment
Valaris · $455M total across 3 segments · Q3 2023
- Floaters$243M+20.6%53.5%
- Jackups$166M-15.3%36.5%
- Other$45.9M+15.9%10.1%
Forward guidance
The 10-Q discusses rig reactivations, contract backlog, and the pending Noble merger without issuing numeric consolidated EPS guidance.
Tailwinds
- Net loss narrowed year over year despite lower revenue.
- Operating income remained positive at $20M.
Headwinds
- Revenue down sharply on fewer active floaters and day-rate pressure.
- Deferred tax expense and merger integration costs remain headwinds.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2026
+0.2%
Avg return
Earnings day
-3.1%
Avg return
5 days after
+0.6%
Avg return
30 days after
55%
11 / 20 earnings
Positive
+11.9%
Q1 2022
Best reaction
-9.0%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | -7.2% | -9.3% | |
| Q4 2025 | +3.3% | +1.8% | +0.0% | |
| Q3 2025 | +2.3% | -3.1% | -0.1% | |
| Q1 2025 | +3.5% | -24.7% | -9.4% | |
| Q4 2024 | -4.4% | -8.7% | -11.5% | |
| Q3 2024 | +4.3% | +2.5% | -4.8% | |
| Q2 2024 | -4.9% | -17.1% | -21.1% | |
| Q1 2024 | -0.0% | +8.8% | +19.0% | |
| Q4 2023 | +8.8% | +5.1% | +16.7% | |
| Q3 2023 | -5.4% | -0.8% | -6.0% | |
| Q2 2023 | -2.4% | -0.7% | -1.9% | |
| Q1 2023 | -5.2% | -4.9% | -3.8% | |
| Q4 2022 | -9.0% | -11.6% | -15.2% | |
| Q3 2022 | -3.2% | -3.7% | +1.6% | |
| Q2 2022 | +1.5% | -4.1% | +1.6% | |
| Q1 2022 | +11.9% | +12.8% | +21.8% | |
| Q4 2021 | +0.1% | -1.4% | +25.1% | |
| Q3 2021 | +1.2% | -0.9% | -13.9% | |
| Q4 2020 | -0.0% | -1.0% | +14.9% | |
| Q2 2021 | +1.1% | -4.1% | +8.5% | |
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