NYSE$VAL
Valaris Limited · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Built on strong safety and operating performance, delivering revenue efficiency and achieved meaningful improvement in financial results.
Valaris reported a strong second quarter in 2024, marked by excellent safety and operating performance, achieving 99% revenue efficiency. The company saw a meaningful improvement in financial results, driven by the successful contract startup for VALARIS DS-7 and secured a new multi-year contract with Equinor for VALARIS DS-17.
- Net income of $151 million, Adjusted EBITDA of $139 million and Adjusted EBITDAR of $150 million.
- Revenue efficiency of 99% during the quarter.
- Strong safety performance, including no Lost Time Incidents (LTI) for the second consecutive quarter.
- Increased total contract backlog to more than $4.3 billion as of July 29, 2024, representing the seventh consecutive quarter of backlog growth and a 42% increase from twelve months ago.
Headline financials
Revenue & EPS history
Valaris · Revenue · Quarterly
$610M
Revenue by segment
Valaris · $572M total across 3 segments · Q2 2025
- Floaters$320M—55.9%
- Jackups$212M—37.0%
- Other$40.6M—7.1%
Forward guidance
Valaris expects to deliver significant earnings and cash flow growth over the next few years, and intends to return all future free cash flow to shareholders unless there is a better or more value accretive use for it.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
+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 |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| 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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