Adjusted EBITDA decreased to $218.1 million from $235 million recorded a year ago. It also missed our model estimate of $228.6 million. U.S. Drilling generated operating revenues of $259.7 million, down 17.5% from the year-ago quarter's level of $314.8 million. The figure also missed our model estimate of $291.8 million. Operating profit totaled $45.1 million compared with $75.4 million in the year-ago quarter. The figure missed our estimated profit of $58.2 million. Revenues from Rig Technologies totaled $ ...

This quarterly report represents an earnings surprise of -142.37%. A quarter ago, it was expected that this drilling contractor would post a loss of $2.24 per share when it actually produced a loss of $5.16, delivering a surprise of -130.36%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While Nabors has underperformed the market so far this year, the quest ...

Highlights o A large operator in the Bakken committed to Nabors' full automation suite across all of its rigs, including SmartDRILL™ and SmartSLIDE®. With these installations, NDS will reach record penetration of its automated directional drilling solution on Nabors rigs. Nabors Announces Second Quarter 2024 Results HAMILTON, Bermuda, July 23, 2024 /PRNewswire/ - Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) today reported second quarter 2024 operating revenues of $735 million, compared to ...

Nabors intends to use the net proceeds from this offering, along with cash on hand, to redeem all of its 7.25% senior guaranteed notes due 2026. Any excess proceeds will be used for general corporate purposes, including, potentially, repayment of other outstanding indebtedness. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities of Nabors or its subsidiaries, nor shall there be any offer, solicitation or sale of the Notes in any s ...

The Zacks Oil and Gas - Drilling industry is facing several headwinds. First, the U.S. rig count has been gradually declining and has fallen around 15% from a year ago, dampening drilling activity and affecting service companies' operations. Second, the industry is grappling with overcapacity and pricing pressures. Third, the recent Saudi announcement to maintain its Maximum Sustainable Capacity and cancel the planned expansion has negatively impacted investor sentiment, leading to a sell-off in oilfield se ...

Nabors intends to use the net proceeds from this offering, along with cash on hand, to redeem all of its 7.25% senior guaranteed notes due 2026. Any excess proceeds will be used for general corporate purposes, including, potentially, repayment of other outstanding indebtedness. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities of Nabors or its subsidiaries, nor shall there be any offer, solicitation or sale of the Notes in any s ...

Nabors is currently finalizing its financial results for the three and six months ended June 30, 2024. The financial results discussed above and below for the three months ended June 30, 2024 are preliminary, based upon estimates and subject to completion of financial and operating closing procedures. Such preliminary operating results do not represent a comprehensive statement of financial results or operating metrics for this period and actual results and metrics may differ materially from these estimates ...

This drilling contractor is expected to post quarterly loss of $1.82 per share in its upcoming report, which represents a year-over-year change of +19.5%. Revenues are expected to be $741.47 million, down 4.8% from the year-ago quarter. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> This upward trend could be attributed to a combination of factors, including overall market optimism and positive developments within the ...

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 23. On the other hand, if they miss, the stock may move lower. Zacks Consensus Estimate Estimate Revisions Trend Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Estimate revisions ahead of a company's earnings release offer clues to the business conditions for t ...

HAMILTON, Bermuda, June 26, 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, July 24, 2024 at 10:00 a.m. Central Time for a discussion of operating results for the second quarter ended June 30, 2024. Nabors will release earnings after the market closes on July 23, 2024. Date: July 24, 2024 Time: 10:00 a.m. CT (11:00 a.m. ET) Dial-in-number(s): US Toll Fre ...