Valaris Q4 EPS $11.30, Sales $483.80M Miss $485.43M Estimate
Portfolio Pulse from Benzinga Newsdesk
Valaris reported Q4 earnings with an EPS of $11.30 and sales of $483.80M, slightly missing the estimate of $485.43M. Sales increased by 11.58% compared to last year. Q4 net income rose to $829M, significantly up from $17M in Q3, including a $790M tax benefit.
February 22, 2024 | 6:12 am
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Valaris reported a slight miss on Q4 sales estimates but showed significant improvement in net income, largely due to a substantial tax benefit.
The slight miss in sales estimates might be overshadowed by the substantial increase in net income, primarily due to the tax benefit. This could lead to a positive short-term impact on Valaris's stock as investors may focus on the significant improvement in profitability.
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