09:37 AM EDT, 08/01/2024 (MT Newswires) -- Valaris ( VAL ) shares were up nearly 5% in recent Thursday trading after the company swung to Q2 earnings and posted higher operating revenue.

The company reported Q2 earnings of $2.03 per diluted share, swinging from a loss of $0.39 a year earlier.

Analysts surveyed by Capital IQ expected earnings of $0.65.

Operating revenue for the quarter ended June 30 was $610.1 million, compared with $415.2 million a year earlier. Analysts surveyed by Capital IQ expected $578.8 million.

Price: 82.39, Change: +3.80, Percent Change: +4.84