MarketPR
Two drillship reactivations pushed Valaris (NYSE: VAL) from an $18 million net loss in the first quarter to $47 million in net income for the second, with adjusted EBITDA reaching $97 million on $539 million in revenue.
The recovery is real, but Middle East conflict-related costs cut about $30 million from adjusted EBITDA in the quarter, compared with $8 million the period before.
What to watch next: two additional drillship contract starts management expects before year-end, and the planned Valaris-Transocean combination targeting a fourth-quarter 2026 close.
Floater throughput and the order book VALARIS DS-12 and DS-10 returned to paying work on schedule and within budget, and DS-17 ramped into a new contract during the quarter.
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