Valaris reports Q3 EPS $2.65, consensus 91c

Reports Q3 revenue $595.7M, consensus $564.61M. The company said, “The Valaris (VAL) team continues to deliver safe and efficient operations, which led to another quarter of strong financial results. We also continue to execute our commercial strategy having recently secured an attractive contract for VALARIS DS-12 with bp offshore Egypt. With this award, all four of our active drillships with near-term availability are now contracted for work beginning next year. Despite near-term commodity price uncertainty, demand for offshore drilling services is developing as we expected, with customers increasingly looking to offshore projects to meet future energy needs. Against this backdrop, we continue to see a solid pipeline of deepwater opportunities for our high-specification fleet, and we are in advanced customer discussions for our drillships scheduled to complete contracts in the second half of 2026.”