VALARIS LIMITED Announces Second Quarter Results for FY2023 with 0.5% Increase in Total Revenue
August 27, 2023
🌧️Earnings Overview
On June 30 2023, VALARIS LIMITED ($NYSE:VAL) reported their second quarter results for FY2023, showing a total revenue of USD 415.2 million, a 0.5% increase from the same period of the previous year. Net income for the quarter was reported to be USD -29.4 million, significantly lower than the figure of USD 111.6 million reported in the same period of the prior year.
Analysis
According to its Risk Rating, VALARIS LIMITED is a high risk investment both in terms of financial and business aspects. GoodWhale has been able to identify two risk warnings in its income sheet and cashflow statement. Investors can register on goodwhale.com to explore more and check out their warnings, as well as to get more insights about VALARIS LIMITED. GoodWhale provides users with a comprehensive analysis of a company’s financial performance and track record, making it easier for investors to make informed and mindful decisions when investing in VALARIS LIMITED. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Valaris Limited. More…
| Total Revenues | Net Income | Net Margin |
| 1.72k | 120.8 | 14.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Valaris Limited. More…
| Operations | Investing | Financing |
| 364.2 | -161.8 | 26.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Valaris Limited. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.09k | 1.82k | 17.85 |
Key Ratios Snapshot
Some of the financial key ratios for Valaris Limited are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -7.9% | – | 11.7% |
| FCF Margin | ROE | ROA |
| 7.5% | 9.3% | 4.1% |
Peers
Valaris Ltd. is an offshore drilling contractor that provides drilling and related services to the oil and gas industry. The company operates a fleet of offshore drilling rigs and is headquartered in London, the United Kingdom. Select Energy Services Inc, Transocean Ltd, and Tetra Technologies Inc are all competitors of Valaris Ltd.
– Select Energy Services Inc ($NYSE:WTTR)
As of 2022, Select Energy Services Inc has a market cap of 988.86M and a Return on Equity of 2.29%. The company provides oilfield services and products to exploration and production companies in the United States and Canada. Select Energy Services Inc was founded in 2007 and is headquartered in Houston, Texas.
– Transocean Ltd ($NYSE:RIG)
Transocean Ltd is a Swiss-based international provider of offshore contract drilling services for oil and gas wells. The company has a market cap of 3.11B as of 2022 and a Return on Equity of -0.26%. Transocean’s primary business is offshore contract drilling, and it is one of the largest providers of offshore contract drilling services in the world. The company’s fleet consists of 63 rigs, including 27 ultra-deepwater rigs, 30 deepwater rigs and six high-specification jackups.
– Tetra Technologies Inc ($NYSE:TTI)
Tetra Technologies Inc is a North American oil and gas services company. They provide services to both onshore and offshore oil and gas projects. Their services include drilling, completion, and production services. They also have a presence in the oilfield chemicals market.
Summary
VALARIS LIMITED reported total revenue of USD 415.2 million in their second quarter of FY2023, a 0.5% increase year-over-year. However, net income for the quarter was USD -29.4 million, a decrease from last year’s figure of USD 111.6 million. This indicates that the company’s expenses have risen faster than its revenues, making it an unfavorable investment opportunity for shareholders at this time. Despite the increase in revenue, the company’s profitability has taken a hit, indicating that further scrutiny is necessary for potential investors.
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