Valaris Q2 2021 Earnings Report
Key Takeaways
Valaris Limited reported second quarter 2021 results, emerging from chapter 11 on April 30, 2021, with a strengthened capital structure and over $1.3 billion in contract backlog. The company is beginning to see early signs of recovery in customer demand.
Valaris emerged from chapter 11 with a significantly strengthened capital structure, including a net cash position and $550 million of debt due in 2028.
Customers awarded Valaris more than 20 new contracts or extensions with associated contract backlog totaling over $1.3 billion.
The company is beginning to see early signs of a recovery in customer demand following the downturn caused by the COVID-19 pandemic.
Valaris is well-positioned to benefit from the opportunities in the market, focusing on winning work for the active fleet and returning stacked rigs to work.
Valaris
Valaris
Valaris Revenue by Segment
Forward Guidance
Valaris is focusing on winning work for its active fleet and returning high-quality stacked rigs to work as opportunities arise. The company is well-positioned to benefit from a recovery in customer demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income