VAL Stock Recent News

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Schedules Fourth Quarter 2023 Earnings Release and Conference Call.

Valaris (VAL) adds contract extensions and new deals worth $1.14 billion at attractive high-day rates, leading to a positive outlook.

Valaris (VAL) wins a contract for the drillship VALARIS DS-4 worth $519 million to continue working with Petrobras (PBR) after their ongoing contract ends in September 2024.

Valaris reported improved day rates and added to its contract backlog, despite revenue stabilizing over the past six quarters. Valaris is poised to add two drillships to its fleet before the end of 2023, enhancing its revenue-generating capacity in 2024 and beyond. Valaris remains inexpensive in an offshore drilling market marked by increasing demand and constrained supply of rig capacity.

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") will hold its third quarter 2023 earnings conference call at 9:00 a.m. CST (10:00 a.m. EST) on Tuesday, November 7, 2023. The earnings release will be issued before the New York Stock Exchange opens that morning. The conference call will be webcast live at www.valaris.com. Alternatively, callers may dial +1-855-239-3215 within the United States or +1-412-542-4130 from outside the U.S. It is recommended.

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") will hold its second quarter 2023 earnings conference call at 9:00 a.m. CDT (10:00 a.m. EDT) on Wednesday, August 2, 2023. The earnings release will be issued before the New York Stock Exchange opens that morning. The conference call will be webcast live at www.valaris.com. Alternatively, callers may dial +1-855-239-3215 within the United States or +1-412-542-4130 from outside the U.S. It is recommended.

Last month, Valaris reported better-than-expected Q1/2023 results and reiterated its full-year outlook, with improved profitability expected for the second half. The company also released a new fleet status report with a total backlog up by almost 15% sequentially to $2.8 billion. Subsequent to quarter-end, the company managed to improve its capital structure thus adding almost $500 million in incremental liquidity.

The market is awarding a rich earnings multiple to Valaris Limited. One that far exceeds most competitors. Things are improving in the offshore drilling space, as we will discuss, but there are still miles to go.

Valaris Limited (NYSE:VAL ) Q1 2023 Earnings Conference Call May 2, 2023 10:00 AM ET Company Participants Darin Gibbins - Vice President of Investor Relations & Treasurer Anton Dibowitz - President & Chief Executive Officer Chris Weber - Senior Vice President & Chief Financial Officer Conference Call Participants Kurt Hallead - Benchmark Eddie Kim - Barclays David Smith - Pickering Energy Partners Darin Gibbins Welcome, everyone, to the Valaris First Quarter 2023 Conference Call. With me today: are President and CEO, Anton Dibowitz, Senior Vice President and CFO, Chris Weber, Senior Vice President and CCO, Matt Lyne and other members of our executive management team.

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Schedules First Quarter 2023 Earnings Release and Conference Call