Core Insights - Nabors Industries Ltd. reported a fourth-quarter 2024 adjusted loss of $6.67 per share, significantly wider than the Zacks Consensus Estimate of a loss of $1.86, primarily due to lower operating income and increased costs [1][2] - The company's operating revenues were $730 million, slightly down from $738 million year-over-year, with adjusted EBITDA decreasing to $220.5 million from $230.1 million [2] Financial Performance - U.S. Drilling segment generated operating revenues of $241.6 million, down 9.1% from $265.8 million a year ago, with operating profit of $39 million compared to $51.5 million [7] - International Drilling's revenues increased to $371.4 million from $342.8 million year-over-year, with operating profit rising to $29.5 million from $18.6 million [8] - Drilling Solutions segment revenues totaled $76 million, down 1.3% from $77 million, with operating income of $28.9 million, lower than the previous year's $30.1 million [9] - Rig Technologies revenues were $56.2 million, down 5.1% from $59.3 million, but operating profit increased to $8.4 million from $5.8 million [10] Cost Structure - Total costs and expenses rose to $756.3 million from $714.7 million year-over-year, exceeding predictions [11] Strategic Developments - Nabors secured contracts for three rigs in Argentina and an additional contract for an idle rig in Colombia, enhancing asset utilization [4] - The SANAD project deployed its ninth new-build rig and plans to deploy two more in early 2025, aligning with Saudi Aramco's expansion [5] - Canrig, part of Nabors' Rig Technologies, was awarded a comprehensive rig upgrade package, indicating ongoing technological advancements [6] Future Guidance - For Q1 2025, Nabors anticipates an average rig count of approximately 61 in the U.S. drilling segment and 85 to 86 in the International Drilling segment [13] - Expected adjusted EBITDA for the Drilling Solutions segment is around $36 million, with capital expenditures projected between $195 million and $205 million [14] - Full-year capital expenditures are expected to total approximately $710 million to $720 million, with $360 million earmarked for SANAD new builds [15]

Core Insights - Nabors Industries (NBR) reported revenue of $729.82 million for Q4 2024, reflecting a year-over-year decline of 1.1% and an EPS of -$6.67 compared to -$3.84 a year ago, indicating a significant deterioration in earnings performance [1] - The revenue fell short of the Zacks Consensus Estimate of $730.4 million by 0.08%, while the EPS was significantly below the consensus estimate of -$1.86, resulting in an EPS surprise of -258.60% [1] Financial Performance Metrics - Daily Rig Revenue for International Drilling was reported at $47.62 million, exceeding the three-analyst average estimate of $47.04 million [4] - Daily Adjusted Gross Margin for International Drilling was $16.69 million, slightly below the three-analyst average estimate of $16.94 million [4] - Average Rigs Working in International Drilling was 85, surpassing the three-analyst average estimate of 84, while U.S. Drilling had 73 rigs working, compared to the average estimate of 72 [4] - Daily Rig Revenue for U.S. Drilling was $36.14 million, lower than the estimated $37.52 million [4] - Operating Revenues for U.S. Drilling were $241.64 million, which is a 9.1% decline compared to the year-ago quarter and below the average estimate of $256.58 million [4] - Operating Revenues for International Drilling were $371.41 million, exceeding the average estimate of $362.82 million and representing an 8.4% year-over-year increase [4] - Operating Revenues for Drilling Solutions were $75.99 million, slightly below the average estimate of $77.63 million, marking a 1.3% decline year-over-year [4] - Operating Revenues for Rig Technologies were $56.17 million, compared to the average estimate of $49.04 million, indicating a 5.3% year-over-year decrease [4] - Investment income (loss) was reported at $8.83 million, below the average estimate of $9.18 million, reflecting a 26.7% decline compared to the year-ago quarter [4] Stock Performance - Nabors' shares have returned -13% over the past month, contrasting with the Zacks S&P 500 composite's +4.3% change, indicating underperformance relative to the broader market [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential continued underperformance in the near term [3]

Financial Performance - Fourth quarter 2024 operating revenues were $730 million, slightly down from $732 million in the third quarter[2]. - The net loss attributable to Nabors shareholders for the quarter was $54 million, equating to a loss of $6.67 per diluted share, an improvement from a loss of $6.86 per diluted share in the previous quarter[2]. - Adjusted EBITDA for the fourth quarter was $221 million, compared to $222 million in the third quarter[2]. - Operating revenues for Q4 2024 were $729,819,000, a slight increase from $725,801,000 in Q4 2023[36]. - Net loss attributable to Nabors for Q4 2024 was $53,671,000, compared to a loss of $16,703,000 in Q4 2023[36]. - Adjusted EBITDA for the year ended December 31, 2024, was $881,335,000, down from $915,157,000 in 2023[36]. - Adjusted EBITDA for the three months ended December 31, 2024, was $220,545 thousand, a decrease from $230,103 thousand in the same period of 2023, representing a decline of approximately 4%[44]. - The company's net income for Q4 2024 was a loss of $32,869 thousand, compared to a profit of $3,857 thousand in Q4 2023, indicating a significant decline[46]. - Total basic earnings per share for the year ended December 31, 2024, was $(22.37), compared to $(5.49) for the year ended December 31, 2023, indicating a significant decline[43]. Segment Performance - International Drilling adjusted EBITDA totaled $112 million, down from $116 million in the third quarter, with an average rig count of 85[9]. - U.S. Drilling segment reported adjusted EBITDA of $105.8 million, compared to $108.7 million in the previous quarter, with a Lower 48 average rig count of 66[10]. - The adjusted operating income for the U.S. Drilling segment was $38,973 thousand for the three months ended December 31, 2024, down from $51,494 thousand in the same period of 2023, reflecting a decrease of about 24%[44]. - The company reported an adjusted operating income of $176,281 thousand for the U.S. Drilling segment for the year ended December 31, 2024, compared to $262,353 thousand for the year ended December 31, 2023, a decline of about 33%[44]. - Adjusted operating income for Lower 48 - U.S. Drilling was $27,354 thousand for Q4 2024, down from $40,108 thousand in Q4 2023, representing a decrease of 31.5%[45]. Cash Flow and Expenditures - Consolidated adjusted free cash flow in the fourth quarter was a use of $53 million, impacted by a $50 million collections shortfall in Mexico and higher capital expenditures of $241 million[12][13]. - Capital expenditures for 2025 are projected to be between $710 million and $720 million, with approximately $360 million allocated for SANAD newbuild construction[15][21]. - Adjusted free cash flow for Q4 2024 was negative at $(53,296) thousand, compared to positive $17,544 thousand in Q3 2024, indicating a cash flow challenge[51]. Assets and Liabilities - Total assets decreased to $4,504,301,000 as of December 31, 2024, from $5,277,965,000 a year earlier[38]. - Current liabilities were $571,917,000, a decrease from $1,213,981,000 in the previous year[38]. - Total liabilities stood at $3,297,963,000 as of December 31, 2024, compared to $3,996,880,000 a year prior[38]. - Total debt as of December 31, 2024, was $2,505,217 thousand, with net debt at $2,107,918 thousand after accounting for cash and short-term investments[49]. Operational Metrics - Average rigs working in U.S. Drilling decreased to 72.7 in Q4 2024 from 76.3 in Q4 2023[40]. - Daily rig revenue for U.S. Drilling was $36,137 in Q4 2024, down from $37,865 in Q4 2023[40]. - The average rigs working during the quarter can be calculated as rig revenue days divided by the number of calendar days in the period, indicating operational efficiency[6]. - Daily rig revenue for the quarter is derived from operating revenue divided by the total number of revenue days, providing insight into revenue generation capabilities[8]. Research and Engineering - Research and engineering expenses for Q4 2024 were $14,434,000, compared to $13,926,000 in Q4 2023[36]. - Research and engineering costs for Lower 48 - U.S. Drilling were $1,002 thousand in Q4 2024, down from $1,276 thousand in Q4 2023, a decrease of 21.4%[45]. Interest and Tax Expenses - Interest expense increased to $53,642,000 in Q4 2024 from $49,938,000 in Q4 2023[36]. - The company's income tax expense for Q4 2024 was $15,231 thousand, compared to $19,244 thousand in Q4 2023, showing a reduction of 21.0%[46]. Future Outlook - The merger with Parker Wellbore is expected to close in the first quarter of 2025, pending regulatory approvals, and is anticipated to provide incremental free cash flow of $35 million[6][17]. - SANAD's working newbuild fleet is projected to double its contribution to adjusted EBITDA in 2025 compared to 2024[9]. - For the first quarter of 2025, Nabors expects U.S. Drilling adjusted EBITDA of approximately $33 million and Rig Technologies adjusted EBITDA of approximately $5 million[17][18].

Financial Performance - Nabors Industries reported a quarterly loss of $6.67 per share, significantly worse than the Zacks Consensus Estimate of a loss of $1.86, and compared to a loss of $3.84 per share a year ago, indicating an earnings surprise of -258.60% [1] - The company posted revenues of $729.82 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 0.08%, and down from $737.84 million in the same quarter last year [2] - Over the last four quarters, Nabors has not surpassed consensus EPS estimates and has topped revenue estimates only once [2] Stock Performance and Outlook - Nabors shares have declined approximately 3% since the beginning of the year, while the S&P 500 has gained 3.2% [3] - The current consensus EPS estimate for the upcoming quarter is -$1.80 on revenues of $731.86 million, and for the current fiscal year, it is -$3.91 on revenues of $3.05 billion [7] Industry Context - The Oil and Gas - Drilling industry, to which Nabors belongs, is currently ranked in the bottom 26% of over 250 Zacks industries, suggesting a challenging environment for the company [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Nabors' stock performance [5]

Core Insights - Nabors Industries reported fourth quarter 2024 operating revenues of $730 million, slightly down from $732 million in the previous quarter, with a net loss of $54 million compared to a loss of $56 million in Q3 2024 [1] - The company anticipates stable market activity in early 2025 and is taking steps to improve efficiency and align its cost structure [4][5] - The acquisition of Parker Wellbore is expected to enhance strategic objectives and create value for stakeholders [3] Financial Performance - Fourth quarter adjusted EBITDA was $221 million, down from $222 million in the previous quarter [1] - The U.S. Drilling segment reported adjusted EBITDA of $105.8 million, a decrease from $108.7 million in Q3 2024, with a Lower 48 average rig count of 66 [8] - International Drilling adjusted EBITDA totaled $112 million, down from $116 million in the previous quarter, with an average rig count of 85 [7] Capital Expenditures and Cash Flow - Consolidated adjusted free cash flow for the fourth quarter was a use of $53 million, influenced by a $50 million collections shortfall in Mexico and higher capital expenditures of $241 million [10][11] - The company forecasts capital spending of $710 to $720 million for the full year 2025, with approximately $360 million allocated to SANAD newbuild construction [13][25] Strategic Initiatives - The SANAD joint venture with Saudi Aramco is expected to double its contribution to adjusted EBITDA in 2025, with plans for significant rig deployments in Saudi Arabia, Argentina, Colombia, and Kuwait [6][7] - The company is pursuing growth opportunities in international markets, particularly in Saudi Arabia and Argentina, despite the pressure on capital expenditures [5] Outlook - For Q1 2025, the company projects adjusted EBITDA of approximately $33 million for U.S. Drilling and $5 million for Rig Technologies, with an overall expectation of breakeven adjusted free cash flow for the year [16][17][18] - The anticipated impact of the Parker Wellbore acquisition is not included in the current forecasts, but it is expected to provide incremental free cash flow [15][16]

Core Viewpoint - Nabors Industries Ltd. has entered into a business combination agreement with e2Companies LLC, aiming to enhance energy solutions through e2's AI-based Virtual Utility technology, which offers a comprehensive approach to power generation and grid stability [1][5][6] Company Overview - Nabors Industries is a leading provider of advanced technology for the energy industry, operating in over 20 countries and focusing on safe, efficient, and responsible energy production [8] - e2Companies is recognized as the first vertically integrated Virtual Utility for power generation, distribution, and energy economics, utilizing patented technology for automated grid stability [9][10] Strategic Collaboration - The collaboration between Nabors and e2 began last year, focusing on integrating e2's power solutions into Nabors' drilling operations, which will enhance energy reliability and autonomy for customers [6] - The business combination is expected to strengthen this partnership and support ambitious goals, including comprehensive electrification in oilfields [6] Market Positioning - e2's solutions are designed to operate behind-the-meter without needing a grid connection, making them suitable for critical industries such as data centers, manufacturing, oil and gas, and healthcare [3] - The increasing challenges to the global electrical grid and rising power demand, particularly from data centers, position e2 to capitalize on market opportunities [5] Technological Innovation - e2's R3Di® System provides continuous on-site power and seamless resiliency, independent of grid conditions, and includes features like instantaneous load shifting and AI-based cost optimization [9][10] - The automated platform is designed to adapt to future advancements in energy sources, including renewables and hydrogen, enhancing its long-term viability [10]

In its upcoming report, Nabors Industries (NBR) is predicted by Wall Street analysts to post quarterly loss of $1.86 per share, reflecting an increase of 51.6% compared to the same period last year. Revenues are forecasted to be $730.4 million, representing a year-over-year decrease of 1%.The current level reflects an upward revision of 3.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial p ...

Nabors Industries Ltd. (NBR) is set to report fourth-quarter earnings on Feb. 12, after the closing bell. The Zacks Consensus Estimate for the top and bottom lines is pegged at $730.4 million and at a loss of $1.86, respectively.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Let us delve into the factors that might have influenced NBR’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter. Highligh ...

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 ...