Valaris stock reports a Q2 profit as merger clears a key hurdle

Published on 10/05/2026 at 15:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Valaris stock closed at USD 78.39 on October 2 after Q2 net income reached USD 47.0 million. Revenue rose to USD 539.2 million from USD 465.4 million in Q1.

VAL, BMG9460G1015, Illustration mit AI erstellt.

Valaris (ISIN BMG9460G1015) stock closed at USD 78.39 on the NYSE on October 2, 2026, down 1.47 percent from the prior close. The offshore driller's second-quarter profit and pending Transocean transaction remain the key numbers shaping the investment case.

Q2 profit reverses the loss

StockTitan reported that Valaris generated USD 539.2 million in operating revenue and USD 47.0 million in net income in Q2 2026. In Q1, revenue was USD 465.4 million and net income was a USD 18.0 million loss, making the earnings swing the clearest change in the latest reported period.

Adjusted EBITDA reached USD 96.5 million in Q2, up from USD 66.7 million in Q1, while revenue efficiency was 98 percent. The improvement followed the return of drillships VALARIS DS-12 and DS-10 to contract work, although Middle East costs reduced adjusted EBITDA by USD 30 million in the quarter, according to StockTitan.

Merger progress changes the timetable

On September 30, 2026, the U.S. Department of Justice closed its antitrust investigation into the planned all-stock combination with Transocean, according to StockTitan. The agreement provides 15.235 Transocean shares for each Valaris share, subject to the remaining transaction conditions.

The latest fleet update also put Valaris contract backlog at USD 4,585.2 million as of August 5, 2026. That backlog gives the Q2 operating recovery a longer revenue base, but the company still faces execution risk from maintenance schedules, Middle East operating costs and the transaction process.

Analysts set a lower benchmark

Investing.com listed a Neutral consensus from 9 analysts, with an average 12-month price target of USD 67.43, a high target of USD 99.00 and a low target of USD 45.00. The average target is below the October 2 closing price, putting the market quote above the published analyst benchmark even after the Q2 earnings improvement.

Valaris stock stays below its yearly high

Valaris stock closed at USD 78.39 on October 2, 2026, with a session range of USD 77.78 to USD 79.09 and a 52-week range of USD 46.70 to USD 114.12. Market capitalization stood at USD 5.4 billion and trading volume reached 776,076 shares, giving investors a market measure alongside the Q2 operating figures.