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Dec 31, 2019
Valaris Q4 2019 Earnings Report
Valaris reported a net loss of $216 million for Q4 2019.
Key Takeaways
Valaris plc reported a net loss attributable to the company of $216 million, or $1.09 per share, for fourth quarter 2019. Revenues declined to $512 million in fourth quarter 2019 from $551 million in the prior quarter primarily due to the sale of VALARIS 5006. The Company reported adjusted EBITDA of $22 million in fourth quarter 2019.
Reported a net loss of $216 million, or $1.09 per share, for fourth quarter 2019 compared to a net loss of $197 million, or $1.00 per share, in third quarter 2019.
Achieved approximately $135 million of annual run rate synergies by year-end 2019.
Signed new contracts that added $1.8 billion to contracted revenue backlog during the year.
Revenues declined to $512 million in fourth quarter 2019 from $551 million in the prior quarter primarily due to the sale of VALARIS 5006.
Revenue by Segment
Forward Guidance
The company expects to report losses and have negative cash flows during 2020 despite gradual improvement in utilization and average day rates for Valaris' fleet.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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