Nabors (NBR) Reports Wider-Than-Expected Q2 Loss as Costs Rise

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 $ ...