LONDON (AP) _ Valaris plc (VAL) on Wednesday reported a loss of $3.01 billion in its first quarter.

The London-based company said it had a loss of $15.19 per share. Losses, adjusted for one-time gains and costs, came to $1.66 per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.56 per share.

The offshore contract drilling services company posted revenue of $456.6 million in the period.

The company's shares closed at 41 cents. A year ago, they were trading at $15.36.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VAL at https://www.zacks.com/ap/VAL

Automated Insights, source Associated Press News