Valaris LimitedNYSE: VAL

Last month, leading offshore driller, Valaris, reported Q1/2024 results handily above expectations, mostly as a result of improved revenue efficiency. However, Adjusted EBITDA margin remained weak and cash flow continues to be pressured by elevated capital expenditures. Backlog of $4.0 billion reached a new recovery high and was up by 2.5% sequentially as customers exercised priced options for a number of rigs.

Valaris Limited's Q1 2024 Earnings Conference Call is scheduled for May 2, 2024 at 10:00 AM ET. Company representatives include Nick Georgas, Anton Dibowitz, Matt Lyne, and Chris Weber. Conference call participants include Greg Lewis, Eddie Kim, Fredrik Stene, Kurt Hallead, and Doug Becker. The operator will begin the call shortly. Welcome to the Valaris First Quarter 2024 Results Conference Call. All participants will be in listen-only mode.

Valaris Ltd. (VAL) has announced that its joint venture in Saudi Arabia, ARO Drilling, has been notified of a suspension for one of its 19 contracted rigs, the Valaris 143.

Valaris Limited (VAL) Q4 2023 Earnings Call Transcript

Valaris Limited has experienced volatility in its stock price over the past year, but the company is focused on improving its bottom line and has promising growth prospects. VAL operates in the offshore drilling industry and has a diverse fleet of equipment, allowing it to engage in different markets around the world. The company has secured partnerships and joint ventures, such as its collaboration with ARO Drilling, which contributes to its robust financial performance and solid balance sheet.

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.