$VAL
Valaris Ltd Stock $val

$val Overview Financials Valuation SEC Filings Company Website

2023 Q3 Form 10-Q Financial Statement

#000031480823000116 Filed on August 02, 2023

Income Statement

Concept	2023 Q3	2023 Q2	2022 Q2
Revenue	$455.1M	$415.2M	$413.3M
YoY Change	4.09%	0.46%	357.7%
Cost Of Revenue	$390.9M	$373.5M	$361.8M
YoY Change	16.1%	3.23%
Gross Profit	$64.20M	$41.70M	$51.50M
YoY Change	-36.12%	-19.03%
Gross Profit Margin	14.11%	10.04%	12.46%
Selling, General & Admin	$24.20M	$26.40M	$19.00M
YoY Change	26.04%	38.95%	-0.52%
% of Gross Profit	37.69%	63.31%	36.89%
Research & Development	$390.9M	$373.5M	$361.8M
YoY Change	16.1%	3.23%	42.27%
% of Gross Profit	608.88%	895.68%	702.52%
Depreciation & Amortization	$25.80M	$24.50M	$22.30M
YoY Change	14.16%	9.87%	-58.78%
% of Gross Profit	40.19%	58.75%	43.3%
Operating Expenses	$440.9M	$424.4M	$361.8M
YoY Change	30.95%	17.3%	301.11%
Operating Profit	$16.60M	-$9.900M	-$15.60M
YoY Change	-73.05%	-36.54%	-63.38%
Interest Expense	$13.20M	$7.200M	$8.300M
YoY Change	-30.89%	-13.25%	45.61%
% of Operating Profit	79.52%
Other Income/Expense, Net	$11.10M	$7.100M	$148.6M
YoY Change	-62.88%	-95.22%	11330.77%
Pretax Income	$27.70M	-$2.800M	$133.0M
YoY Change	-69.73%	-102.11%	1109.09%
Income Tax	$10.70M	$24.50M	$20.20M
% Of Pretax Income	38.63%		15.19%
Net Earnings	$12.90M	-$29.40M	$111.6M
YoY Change	-82.64%	-126.34%	-1900.0%
Net Earnings / Revenue	2.83%	-7.08%	27.0%
Basic Earnings Per Share	$0.18	-$0.39	$1.49
Diluted Earnings Per Share	$0.17	-$0.39	$1.48
COMMON SHARES
Basic Shares Outstanding	73.99M shares	75.18M shares	75.00M shares
Diluted Shares Outstanding	74.80M shares	74.80M shares	75.60M shares

Balance Sheet

Concept	2023 Q3	2023 Q2	2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.041B	$787.3M	$553.5M
YoY Change	66.31%	42.24%	-9.08%
Cash & Equivalents	$1.041B	$787.3M	$553.5M
Short-Term Investments
Other Short-Term Assets	$178.7M	$168.7M	$159.0M
YoY Change	9.7%	6.1%	75.69%
Inventory
Prepaid Expenses	$23.90M	$22.30M	$27.10M
Receivables	$419.8M	$404.4M	$544.6M
Other Receivables	$72.60M	$69.00M	$0.00
Total Short-Term Assets	$1.728B	$1.447B	$1.281B
YoY Change	28.74%	13.0%	5.65%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.160B	$1.074B	$931.7M
YoY Change	21.63%	15.24%	2.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$116.1M	$113.7M	$99.60M
YoY Change	13.16%	14.16%	16.63%
Other Assets	$205.3M	$185.6M	$184.1M
YoY Change	16.98%	0.81%	11.37%
Total Long-Term Assets	$1.757B	$1.641B	$1.480B
YoY Change	18.79%	10.89%	6.99%
TOTAL ASSETS
Total Short-Term Assets	$1.728B	$1.447B	$1.281B
Total Long-Term Assets	$1.757B	$1.641B	$1.480B
Total Assets	$3.485B	$3.088B	$2.761B
YoY Change	23.53%	11.87%	6.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$376.4M	$364.2M	$287.0M
YoY Change	46.69%	26.9%	64.85%
Accrued Expenses	$148.4M	$105.7M	$260.1M
YoY Change	-43.47%	-59.36%	106.43%
Deferred Revenue	$103.4M	$96.20M	$63.50M
YoY Change	21.93%	51.5%	80.4%
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$723.0M	$658.9M	$547.1M
YoY Change	39.28%	20.44%	40.07%
LONG-TERM LIABILITIES
Long-Term Debt	$1.079B	$681.9M	$545.7M
YoY Change	99.22%	24.96%	0.17%
Other Long-Term Liabilities	$482.5M	$481.5M	$527.6M
YoY Change	-10.62%	-8.74%	-6.69%
Total Long-Term Liabilities	$1.562B	$1.163B	$1.073B
YoY Change	44.41%	8.39%	-3.32%
TOTAL LIABILITIES
Total Short-Term Liabilities	$723.0M	$658.9M	$547.1M
Total Long-Term Liabilities	$1.562B	$1.163B	$1.073B
Total Liabilities	$2.285B	$1.822B	$1.620B
YoY Change	42.74%	12.46%	7.97%
SHAREHOLDERS EQUITY
Retained Earnings	$190.3M	$177.4M	$40.00M
YoY Change	66.49%	343.5%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)			$200.0K
YoY Change
Treasury Stock Shares
Shareholders Equity	$1.184B	$1.254B	$1.138B
YoY Change
Total Liabilities & Shareholders Equity	$3.485B	$3.088B	$2.761B
YoY Change	23.53%	11.87%	6.36%

Cashflow Statement

Concept	2023 Q3	2023 Q2	2022 Q2
OPERATING ACTIVITIES
Net Income	$12.90M	-$29.40M	$111.6M
YoY Change	-82.64%	-126.34%	-1900.0%
Depreciation, Depletion And Amortization	$25.80M	$24.50M	$22.30M
YoY Change	14.16%	9.87%	-58.78%
Cash From Operating Activities	$48.20M	-$29.10M	-$114.6M
YoY Change	-44.66%	-74.61%	342.47%
INVESTING ACTIVITIES
Capital Expenditures	$105.8M	$71.00M	-$61.10M
YoY Change	-297.76%	-216.2%	-854.32%
Acquisitions
YoY Change
Other Investing Activities	$100.0K	$29.00M	$145.2M
YoY Change	-100.06%	-80.03%	445.86%
Cash From Investing Activities	-$105.7M	-$42.00M	$84.10M
YoY Change	-54.67%	-149.94%	-1164.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	309.5M	32.40M	-200.0K
YoY Change	-5091.94%	-16300.0%
NET CHANGE
Cash From Operating Activities	48.20M	-29.10M	-114.6M
Cash From Investing Activities	-105.7M	-42.00M	84.10M
Cash From Financing Activities	309.5M	32.40M	-200.0K
Net Change In Cash	252.0M	-38.70M	-30.70M
YoY Change	-265.46%	26.06%	-9.97%
FREE CASH FLOW
Cash From Operating Activities	$48.20M	-$29.10M	-$114.6M
Capital Expenditures	$105.8M	$71.00M	-$61.10M
Free Cash Flow	-$57.60M	-$100.1M	-$53.50M
YoY Change	-140.97%	87.1%	57.35%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	577300000	usd
CY2022Q2	val	Early Termination Fee Received EarlyTerminationFeeReceived	51000000	usd
CY2023Q2	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	2400000	usd
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CY2022Q4	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	78000000.0	usd
CY2023Q2	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	41700000	usd
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CY2022Q4	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	5300000	usd
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CY2023Q2	val	Capitalized Contract Cost Amortization Expense Remainder Of Fiscal Year CapitalizedContractCostAmortizationExpenseRemainderOfFiscalYear	41100000	usd
CY2023Q2	val	Capitalized Contract Cost Amortization Expense Year Two CapitalizedContractCostAmortizationExpenseYearTwo	33700000	usd
CY2023Q2	val	Capitalized Contract Cost Amortization Expense Year Three CapitalizedContractCostAmortizationExpenseYearThree	3900000	usd
CY2023Q2	val	Capitalized Contract Cost Amortization Expense Year Fourand Thereafter CapitalizedContractCostAmortizationExpenseYearFourandThereafter	1800000	usd
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CY2023Q2	val	Numberof Newbuild Jackup Rigs NumberofNewbuildJackupRigs	20	jackup
	val	Order Period OrderPeriod	P10Y
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CY2023Q2	val	Equity Method Investment Summarized Financial Information Accounts Receivable EquityMethodInvestmentSummarizedFinancialInformationAccountsReceivable	17600000	usd
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CY2022Q2	us-gaap	Defined Benefit Plan Amortization Of Gains Losses DefinedBenefitPlanAmortizationOfGainsLosses	100000	usd
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	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	50800000	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	2600000	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-1400000	usd
CY2023Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1073700000	usd
	us-gaap	Revenues Revenues	731700000	usd
	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	693100000	usd
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	34500000	usd
	us-gaap	Cost Of Goods And Services Sold Depreciation CostOfGoodsAndServicesSoldDepreciation	44800000	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	37800000	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	13000000.0	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-65500000	usd
CY2022Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	931700000	usd
CY2023Q2	val	Total Number Of Contract Drilling Rigs TotalNumberOfContractDrillingRigs	51
CY2023Q2	val	Number Of Drilling Management Contracts NumberOfDrillingManagementContracts	2	drillship
CY2023Q2	val	Number Of Contracts With Options To Take Delivery NumberOfContractsWithOptionsToTakeDelivery	2	drillship
CY2023Q2	us-gaap	Income Tax Receivable IncomeTaxReceivable	50200000	usd
CY2022Q4	us-gaap	Income Tax Receivable IncomeTaxReceivable	93600000	usd
CY2023Q2	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	488500000	usd
CY2022Q4	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	463900000	usd
CY2023Q2	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	15100000	usd
CY2022Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	14800000	usd
CY2023Q2	us-gaap	Receivables Net Current ReceivablesNetCurrent	473400000	usd
CY2022Q4	us-gaap	Receivables Net Current ReceivablesNetCurrent	449100000	usd
CY2023Q2	us-gaap	Other Deferred Costs Net OtherDeferredCostsNet	65800000	usd
CY2022Q4	us-gaap	Other Deferred Costs Net OtherDeferredCostsNet	59100000	usd
CY2023Q2	us-gaap	Prepaid Taxes PrepaidTaxes	50000000.0	usd
CY2022Q4	us-gaap	Prepaid Taxes PrepaidTaxes	44600000	usd
CY2023Q2	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	22300000	usd
CY2022Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	17500000	usd
CY2023Q2	val	Other Assets Other Current OtherAssetsOtherCurrent	30600000	usd
CY2022Q4	val	Other Assets Other Current OtherAssetsOtherCurrent	27400000	usd
CY2023Q2	us-gaap	Other Assets Current OtherAssetsCurrent	168700000	usd
CY2022Q4	us-gaap	Other Assets Current OtherAssetsCurrent	148600000	usd
CY2023Q2	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	96200000	usd
CY2022Q4	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	78000000.0	usd
CY2023Q2	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	58000000.0	usd
CY2022Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	55800000	usd
CY2023Q2	us-gaap	Taxes Payable Current TaxesPayableCurrent	53400000	usd
CY2022Q4	us-gaap	Taxes Payable Current TaxesPayableCurrent	41400000	usd
CY2023Q2	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	24700000	usd
CY2022Q4	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	27200000	usd
CY2023Q2	us-gaap	Interest Payable Current InterestPayableCurrent	11700000	usd
CY2022Q4	us-gaap	Interest Payable Current InterestPayableCurrent	7600000	usd
CY2023Q2	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	11300000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	9400000	usd
CY2023Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	39400000	usd
CY2022Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	28500000	usd
CY2023Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	294700000	usd
CY2022Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	247900000	usd
CY2023Q2	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	234200000	usd
CY2022Q4	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	275000000.0	usd
CY2023Q2	us-gaap	Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent	157200000	usd
CY2022Q4	us-gaap	Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent	159800000	usd
CY2023Q2	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	41700000	usd
CY2022Q4	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	41000000.0	usd
CY2023Q2	us-gaap	Other Accrued Liabilities Noncurrent OtherAccruedLiabilitiesNoncurrent	48400000	usd
CY2022Q4	us-gaap	Other Accrued Liabilities Noncurrent OtherAccruedLiabilitiesNoncurrent	39800000	usd
CY2023Q2	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	481500000	usd
CY2022Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	515600000	usd
CY2023Q2	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-29200000	usd
CY2022Q2	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	usd
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-29200000	usd
CY2023Q2	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	27800000	usd
CY2022Q2	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	135100000	usd
	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	27900000	usd
CY2023Q2	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-700000	usd
CY2022Q2	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	10700000	usd
	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-200000	usd
	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	15400000	usd
CY2023Q2	us-gaap	Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent	-100000	usd
CY2022Q2	us-gaap	Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent	-4100000	usd
	us-gaap	Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent	-200000	usd
	us-gaap	Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent	-8100000	usd
CY2023Q2	val	Other Nonoperating Income Expense Other OtherNonoperatingIncomeExpenseOther	1200000	usd
CY2022Q2	val	Other Nonoperating Income Expense Other OtherNonoperatingIncomeExpenseOther	-900000	usd
	val	Other Nonoperating Income Expense Other OtherNonoperatingIncomeExpenseOther	1100000	usd
	val	Other Nonoperating Income Expense Other OtherNonoperatingIncomeExpenseOther	-2100000	usd
CY2023Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-800000	usd
CY2022Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	149000000.0	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-200000	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	159000000.0	usd
CY2023Q2	us-gaap	Deposit Liabilities Collateral Issued Financial Instruments DepositLiabilitiesCollateralIssuedFinancialInstruments	16200000	usd
CY2022Q4	us-gaap	Deposit Liabilities Collateral Issued Financial Instruments DepositLiabilitiesCollateralIssuedFinancialInstruments	20700000	usd
CY2023Q1	us-gaap	Proceeds From Income Tax Refunds ProceedsFromIncomeTaxRefunds	45900000	usd
CY2023Q2	ecd	Rule10b51 Arr Adopted Flag Rule10b51ArrAdoptedFlag	false
CY2023Q2	ecd	Non Rule10b51 Arr Adopted Flag NonRule10b51ArrAdoptedFlag	false
CY2023Q2	ecd	Rule10b51 Arr Trmntd Flag Rule10b51ArrTrmntdFlag	false
CY2023Q2	ecd	Non Rule10b51 Arr Trmntd Flag NonRule10b51ArrTrmntdFlag	false

Files In Submission

Name	View Source	Status
0000314808-23-000116-index-headers.html	Edgar Link	pending
0000314808-23-000116-index.html	Edgar Link	pending
0000314808-23-000116.txt	Edgar Link	pending
0000314808-23-000116-xbrl.zip	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
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R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
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R28.htm	Edgar Link	pending
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R3.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
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R5.htm	Edgar Link	pending
R50.htm	Edgar Link	pending
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R55.htm	Edgar Link	pending
R56.htm	Edgar Link	pending
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R59.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R60.htm	Edgar Link	pending
R61.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
val-06302023xexhibit311.htm	Edgar Link	pending
val-06302023xexhibit312.htm	Edgar Link	pending
val-06302023xexhibit321.htm	Edgar Link	pending
val-06302023xexhibit322.htm	Edgar Link	pending
val-20230630.htm	Edgar Link	pending
val-20230630.xsd	Edgar Link	pending
val-20230630_lab.xml	Edgar Link	unprocessable
val-20230630_pre.xml	Edgar Link	unprocessable
val-20230630_htm.xml	Edgar Link	completed
val-20230630_def.xml	Edgar Link	unprocessable
val-20230630_cal.xml	Edgar Link	unprocessable

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$VAL
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2023 Q3 Form 10-Q Financial Statement

#000031480823000116 Filed on August 02, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VAL Valaris Ltd Stock $val

2023 Q3 Form 10-Q Financial Statement

#000031480823000116 Filed on August 02, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VAL
Valaris Ltd Stock $val