Nabors (NBR) Incurs Loss in Q1 Earnings Season, Sales Beat

Nabors Industries (NBR) reported a loss per share of $4.54 in the first quarter of 2024. In the year-ago quarter, the company had reported a profit of$4.11 per share. This underperformance was primarily due to much higher year-over-year total costs and expenses.Revenues of $743.9 million beat the Zacks Consensus Estimate of$731 million. However, the top line decreased from the year-ago quarter’s level of $789 million. This was due to poor contribution from NBR’s U.S. Drilling and Rig Technologies segments ...