HAMILTON, Bermuda, Jan. 7, 2025 /PRNewswire/ -- Nabors Industries Ltd. (NYSE: NBR) invites you to join Anthony G. Petrello, Chairman, President and Chief Executive Officer, and William Restrepo, Chief Financial Officer, Thursday, February 13, 2025 at 11:00 a.m. Central Time for a discussion of operating results for the fourth quarter ended December 31, 2024.  Nabors will release earnings after the market closes on February 12, 2025. Date: February 13, 2025 Time: 11:00 a.m. CT (12:00 p.m. ET) Dial ...

A month has gone by since the last earnings report for Nabors Industries (NBR) . Shares have added about 3.4% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Nabors due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Nabors Industries' Q3 Earnings & Revenues Lag Estimat ...

Nabors Industries Ltd. (NBR) reported a third-quarter 2024 adjusted loss of $3.35 per share, which was wider than the Zacks Consensus Estimate of a loss of $1.79. This underperformance was due to higher year-over-year general and administrative expenses, research and engineering expenses, interest expenses and other expenses. However, the loss was significantly narrower than the year-ago quarter’s reported loss of $5.4 per share.This improvement resulted from better operating income from NBR’s International ...

Nabors Industries (NBR) came out with a quarterly loss of $3.35 per share versus the Zacks Consensus Estimate of a loss of $1.73. This compares to loss of $5.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -93.64%. A quarter ago, it was expected that this drilling contractor would post a loss of $1.77 per share when it actually produced a loss of $4.29, delivering a surprise of -142.37%.Over the last four quarters, the comp ...

Financial Performance - Nabors reported third quarter 2024 operating revenues of $732 million, a slight decrease from $735 million in the second quarter[2]. - The net loss attributable to Nabors shareholders for the quarter was $56 million, equating to a loss of $6.86 per diluted share, compared to a loss of $32 million or $4.29 per diluted share in the previous quarter[2]. - Adjusted EBITDA for the third quarter was $222 million, up from $218 million in the second quarter[2]. - Total revenues for Nabors Industries for the three months ended September 30, 2024, were $743.3 million, a slight decrease from $744.1 million in the same period of 2023[24]. - Net loss attributable to Nabors for the three months ended September 30, 2024, was $55.8 million, compared to a net loss of $48.9 million in the same period of 2023[24]. - Adjusted EBITDA for the three months ended September 30, 2024, was $221.7 million, an increase from $210.0 million in the same period of 2023[24]. - For the three months ended September 30, 2024, Nabors Industries reported a net loss of $33,087 thousand, compared to a net loss of $31,244 thousand for the same period in 2023[36]. - The basic earnings per share (EPS) for the three months ended September 30, 2024, was $(6.86), compared to $(6.26) for the same period in 2023, reflecting a decline of 9.6%[36]. - The company reported a total basic EPS of $(15.69) for the nine months ended September 30, 2024, compared to $(2.79) for the same period in 2023, indicating a worsening performance[36]. Cash Flow and Expenditures - Adjusted free cash flow was $18 million in the third quarter, a decrease from $57 million in the preceding quarter[9]. - Capital expenditures totaled $118 million, including $37 million for newbuilds in Saudi Arabia, compared to $138 million in the second quarter[9]. - Full-year adjusted free cash flow is projected to be between $100 million and $130 million[12]. - Adjusted free cash flow for the three months ended September 30, 2024, was $17,544, down from $56,649 in the previous quarter[53]. Segment Performance - Daily adjusted gross margin in the International Drilling segment exceeded $17,000, with an average rig count of 85, up from 84 in the previous quarter[7]. - The U.S. Drilling segment reported adjusted EBITDA of $108.7 million, down from $114.0 million in the second quarter, with a daily adjusted gross margin of $15,051[7]. - U.S. Drilling segment generated $254.8 million in revenues for September 2024, compared to $276.4 million in June 2024 and $259.7 million in September 2023, reflecting a decrease of 7.5% year-over-year[28]. - International Drilling segment reported revenues of $368.6 million for September 2024, up from $344.8 million in June 2024, marking an increase of 6.5%[28]. - The U.S. Drilling segment achieved an adjusted operating income of $41,694 thousand for the three months ended September 30, 2024, compared to $49,582 thousand in the same period of 2023, indicating a decline of 16.0%[37]. - The international drilling segment reported an adjusted operating income of $32,182 thousand for the three months ended September 30, 2024, compared to $9,862 thousand in the same period of 2023, showing a substantial increase[37]. Assets and Liabilities - Total current assets decreased to $1.072 billion as of September 30, 2024, from $1.078 billion as of June 30, 2024[25]. - Total liabilities decreased to $3.320 billion as of September 30, 2024, from $3.353 billion as of June 30, 2024[26]. - Cash and short-term investments were $459.3 million as of September 30, 2024, down from $473.6 million as of June 30, 2024[25]. - Current liabilities decreased to $571.6 million as of September 30, 2024, from $590.9 million as of June 30, 2024[26]. - Long-term debt remained relatively stable at $2.503 billion as of September 30, 2024, compared to $2.514 billion as of June 30, 2024[26]. - Total debt as of September 30, 2024, was $2,503,270, a slight decrease from $2,514,169 in the previous quarter[51]. - Net debt stood at $2,043,968 as of September 30, 2024, compared to $2,040,561 in the previous quarter[51]. Operational Metrics - For the fourth quarter, Nabors expects a Lower 48 average rig count of approximately 68 rigs and a daily adjusted gross margin of $15,000[12]. - Average rigs working in the Lower 48 for September 2024 was 67.8, down from 73.7 in June 2024, indicating a decline of 8.0%[28]. - Daily rig revenue for the U.S. Drilling segment was $37,441 in September 2024, slightly up from $37,397 in June 2024[28]. - Daily adjusted gross margin for the Lower 48 was $15,051 in September 2024, down from $15,855 in June 2024, reflecting a decrease of 5.1%[28]. - Total average rigs working across all segments was 158.7 in September 2024, slightly up from 157.6 in June 2024[28]. Research and Development - Research and engineering expenses for the three months ended September 30, 2024, were $14.4 million, slightly up from $14.0 million in the same period of 2023[24]. - Research and engineering costs for the U.S. Drilling segment were $972, an increase from $909 in the previous quarter[46].

HAMILTON, Bermuda, Oct. 22, 2024 /PRNewswire/ -- Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) today reported third quarter 2024 operating revenues of $732 million, compared to operating revenues of $735 million in the second quarter. The net loss attributable to Nabors shareholders for the quarter was $56 million, compared to a net loss of $32 million in the second quarter. This equates to a loss of $6.86 per diluted share, compared to a loss per diluted share of $4.29 in the second quarte ...

HAMILTON, Bermuda, Oct. 21, 2024 /PRNewswire/ -- Nabors Industries Ltd. (NYSE: NBR) invites you to join Anthony G. Petrello, Chairman, President and Chief Executive Officer, and William Restrepo, Chief Financial Officer, Wednesday, October 23, 2024 at 11:00 a.m. Central Time for a discussion of operating results for the third quarter ended September 30, 2024.  Nabors will release earnings after the market closes on October 22, 2024.Date: October 23, 2024 Time: 11:00 a.m. CT (12:00 p.m. ET) Dial-in-number(s) ...

Nabors Industries Ltd.(NBR) has agreed to acquire Parker Wellbore, a leading rental provider company for downhole tubulars in the United States. The company has closed the deal at a consideration of 4.8 million shares of its common stock for an overall transaction value of around $372 million based on Monday's closing price. NBR has also agreed to assume a net debt of about $100 million. Overview of NBR's Acquisition The acquisition agreement between NBR and Parker Wellbore has been approved by the board of ...

The market expects Nabors Industries (NBR) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be ...

Nabors Industries Ltd. (NBR) is currently considered undervalued, trading at a 3.72X trailing 12-month enterprise value to earnings before interest, taxes, depreciation and amortization (EV/EBITDA), which is significantly below the broader industry average of 16.18X. Image Source: Zacks Investment Research Zacks' proprietary data indicates that the company has a Value Score of A, suggesting that it is a solid choice for value investors. While this makes Nabors seem like a bargain compared with its peers, th ...