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Valaris Ltd (NYSE:VAL), a $3.29 billion market cap company specializing in drilling oil and gas wells, held its 2025 Annual General Meeting of Shareholders on June 12, 2025, in Bermuda, according to a recent 8-K filing with the Securities and Exchange Commission. The company maintains a "GREAT" financial health score according to InvestingPro analysis, with robust financial metrics including an Altman Z-Score of 6.77.
At the meeting, shareholders voted on several key matters, including the election of directors and the appointment of the company’s independent registered public accounting firm. A total of 71,041,023 shares were entitled to vote, with 58,550,495 shares, or 82.41%, represented in person or by proxy. Currently trading at $46.51, InvestingPro analysis suggests the stock is undervalued, with comprehensive details available in the Pro Research Report, part of the extensive coverage of 1,400+ US equities.
The election of directors resulted in the approval of all nominees. Elizabeth D. Leykum, Anton Dibowitz, Dick Fagerstal, Joseph Goldschmid, Catherine J. Hughes, and Kristian Johansen were elected to serve until the next Annual General Meeting or until their respective offices are otherwise vacated. The results showed a significant majority in favor, with the least votes for any director being 43,990,158, and the most being 48,224,054.
Additionally, the compensation of the company’s named executive officers was approved on an advisory, non-binding basis. The vote for approval received 45,268,307 votes in favor, 2,256,640 against, and 768,634 abstentions.
KPMG LLP was appointed as the company’s independent registered public accounting firm until the close of the next Annual General Meeting of Shareholders. The shareholders authorized the company’s board of directors, acting through the Audit Committee, to determine KPMG LLP’s remuneration. The appointment received overwhelming support with 54,404,378 votes in favor, 4,080,728 against, and 65,389 abstentions.
The filing indicates that the company has met its regulatory requirements by reporting these outcomes and has documented the authorization of the report by Davor Vukadin, Senior Vice President and General Counsel of Valaris Limited, on June 13, 2025. Investors should note that Valaris is scheduled to report its next earnings on August 5, 2025, which will provide further insights into the company’s performance and strategic direction.
In other recent news, Valaris Limited has reported a strong financial performance for the first quarter of 2025, with revenues reaching $621 million, up from $584 million in the previous quarter. Despite a net loss of $39 million, the company achieved an adjusted net income of $128 million, reflecting solid operational efficiency. Valaris has also secured a significant $135 million offshore drilling contract in West Africa for its drillship, VALARIS DS-15, set to commence in the third quarter of 2026. This contract includes potential extensions and highlights the company’s strategic focus on high-specification drilling solutions.
Additionally, the company reported an adjusted EBITDA increase to $181 million, demonstrating robust operational performance. Nearly 99% of Valaris’s 2025 revenue is already contracted, indicating strong future prospects. The company is actively tracking 25 floater opportunities for 2026-2027, signaling potential growth. Valaris has also been successful in extending contracts for five jackups in Saudi Arabia, securing operations into 2030. These developments underscore Valaris’s strategic positioning and commitment to maintaining a competitive edge in the offshore drilling market.
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