Loading...
•
Mar 31
Valaris Q1 2025 Earnings Report
Valaris reported its first quarter 2025 results.
Key Takeaways
Valaris reported a net loss of $39 million in the first quarter of 2025, primarily due to a significant discrete tax expense of $167 million. Despite the loss, total operating revenues increased to $621 million, and operating income rose to $143 million, driven by stronger performance in the floater segment. The company also achieved a revenue efficiency of 96% and secured approximately $1.0 billion in new contract backlog, increasing the total backlog to over $4.2 billion.
Reported a net loss of $39 million, impacted by $167 million of discrete tax expense.
Total operating revenues increased 6% to $621 million compared to the previous quarter.
Operating income grew 20% to $143 million from the fourth quarter of 2024.
Secured approximately $1.0 billion of new contract backlog, increasing total backlog to over $4.2 billion.
Valaris
Valaris
Valaris Revenue by Segment
Revenue by Segment
Floaters Revenue
CapyFin.comJackups Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Valaris expects offshore production to remain vital for global energy needs and is well-positioned to secure additional contracts, although macroeconomic uncertainty has recently increased.
Positive Outlook
- Expects offshore production to continue playing a vital role in meeting world's energy needs.
- Believes Valaris is well positioned to secure additional contracts.
- Actively engaged with customers for additional contracting opportunities in 2026 and beyond.
- Prudent fleet management is expected to support earnings and cash flow.
- Strong operational and financial performance provides a solid foundation.
Challenges Ahead
- Increased macroeconomic uncertainty.
- Potential for cancellation, suspension, renegotiation, or termination of drilling contracts.
- Exposure to commodity price fluctuations and volatility.
- Risk of supply chain and logistics challenges.
- Impact of changes in foreign currency exchange rates.