The financials
Valaris Limited by the numbers
Valaris Limited (VAL) reported revenue of $465M in Q1 2026 (quarter ended March 31, 2026), down 25% from the same quarter a year earlier. That came with a gross margin of 20% and net loss of $16M. For the full year FY2025, revenue was $2.37B (+0.3% year on year) and net income $983M. Its largest region in 2026-Q2 was Brazil at $138M, 48% of the disclosed total, just ahead of Angola at 26%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $465M | $621M | −25% |
| Gross profit | $92M | $206M | −55% |
| Operating income | $20M | $143M | −86% |
| Net income | −$16M | −$38M | n/a |
| Diluted EPS | −$0.24 | −$0.53 | n/a |
| Geographic | Revenue | Share |
|---|---|---|
| Brazil | $138M | 48% |
| Angola | $74M | 26% |
| Gulf Of America | $41M | 14% |
| Other Geographic Areas | $37M | 13% |
Business Segments
Revenue split by geographic segment, from SEC XBRL filings.
Latest period: Q2 2026Total $290.0M (+47%)
Angola grew +75% year on yearAustralia -100% year on year
Segment Latestquarter on quarteryear on year
- Brazil$138.3M$138.3MQoQ +61%year on year -10%+61%-10%
- Angola$74.1M$74.1MQoQ +5.0%year on year +75%+5.0%+75%
- Gulf Of America$40.6M$40.6MQoQ -1.5%year on year -38%-1.5%-38%
- Other Geographic Areas$37.0M$37.0MQoQ -year on year +39%-+39%
- Australia$0.00$0.00QoQ -year on year -100%--100%
- United Kingdom$0.00$0.00QoQ -year on year ---