NYSE$VAL
Valaris Limited · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Valaris reported Q4 2023 results with a net income of $829 million, including a tax benefit of $790 million, and revenues of $484 million.
Valaris reported a strong fourth quarter with significant contract backlog increase and new contracts, leading to positive financial results. The company is optimistic about future earnings and cash flow growth, planning to return free cash flow to shareholders.
- Net income increased to $829 million, including a tax benefit of $790 million.
- Adjusted EBITDA increased to $58 million.
- New contracts and extensions awarded with associated contract backlog of more than $1.4 billion during the fourth quarter.
- Total contract backlog increased to more than $3.9 billion as of February 15, 2024.
Headline financials
Revenue & EPS history
Valaris · Revenue · Quarterly
$484M
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 anticipates significant earnings and cash flow growth in the coming years and intends to return all future free cash flow to shareholders unless a better value-accretive opportunity arises.
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 Q4 2023
+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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