Filing Flows › Valaris (VAL) › Q3 2025
Valaris (VAL) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Valaris (VAL) reported revenue of $596M for the third quarter 2025 (Q3 2025), -7% from a year earlier and -3% from the quarter before. Operating margin was 21.9%, net earnings $188M (31.6% of revenue).
Valaris, Q3 2025: revenue $596M (-7% year over year), operating margin 21.9%, net earnings $188M, operating cash flow $198M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $596M | -3% | -7% |
| Operating profit | $130M | -20% | +38% |
| Net earnings | $188M | +63% | +191% |
| Operating cash flow | $198M | +65% | +3% |
| Free cash flow | $128M | +143% | +15% |
What changed
Revenue was $595.7M in Q3 2025, down 7% year over year and down 3% from the previous quarter.
Operating profit was $130.5M, a 21.9% margin (up 7.2 points year over year). Total costs fell 15% while revenue fell 7%. Net earnings were $188.1M, up 191% year over year ($187.3M including minority interests, which bore $800K of losses). The effective tax rate was 13.2%. Non-operating items added $85.4M, 40% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $198.1M (up 3% year over year), 106% of net earnings. Non-cash charges added back $6.8M of share-based compensation. Capital expenditures of $69.8M left free cash flow of $128.3M.
Questions
What was Valaris' revenue in the third quarter 2025?
Valaris (VAL) reported revenue of $596M for the third quarter 2025 (Q3 2025), -7% from a year earlier and -3% from the quarter before.
Was Valaris profitable in the third quarter 2025?
Operating profit was $130M (21.9% of revenue) and net earnings $188M.
Source: Valaris 10-Q on SEC EDGAR.