Valaris reports Q3 EPS 17c, consensus 28c

Reports Q3 revenue $455.1M, consensus $473.72M. President and CEO Anton Dibowitz said, “We are pleased that VALARIS DS-17 commenced its contract offshore Brazil during the quarter and expect that it will contribute meaningful earnings and cash flow going forward. While our floater revenue efficiency for the quarter was below our expectations, our year to date fleetwide revenue efficiency remains strong at 97%, and we remain committed to delivering safe and efficient operations.”