---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-049162"
form_type: "8-K"
ticker: "NBR"
cik: "0001163739"
company_name: "NABORS INDUSTRIES LTD"
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T15:36:40.756672+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Nabors Q1 net income $49M ($4.11/diluted), revenue $779M; Q2 Lower 48 rig count guided to 85

## Summary
- Q1 revenue $779M (+2.5% QoQ), net income $49M ($4.11 diluted) vs Q4 loss of $69M.
- Adjusted EBITDA $240M vs $230M Q4; U.S. Drilling segment EBITDA $156.5M (+9%).
- Lower 48 daily gross margin record $16,690 (+14% QoQ); Q2 guidance expects margin $16,900-$17,000 but rig count down to 85 from 93.
- Issued $250M convertible notes due 2029 to redeem 9% senior notes due 2025, extending maturity and reducing annual debt cost by >$15M.
- Full-year 2023 adjusted free cash flow target unchanged at $400M; Q1 adjusted FCF $37M.

## SEC filing metadata
- accession: 0001104659-23-049162
- form_type: 8-K
- ticker: NBR
- cik: 0001163739
- company_name: NABORS INDUSTRIES LTD
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163739/000110465923049162/0001104659-23-049162-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163739/000110465923049162/tm2313594d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-049162
- JSON: https://secwatch.observer/filing/0001104659-23-049162.json
- Plain text: https://secwatch.observer/filing/0001104659-23-049162.txt

## Key facts
- Earnings Releases
  NABORS INDUSTRIES LTD reported first quarter 2023 results: revenue $779 million, net income $49 million, EPS $4.11 per diluted share. Guidance reaffirmed.
  - Period: first quarter 2023
  - Revenue: $779 million
  - Net income: $49 million
  - EPS: $4.11 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: Nabors Industries Ltd. (“Nabors” or the “Company”) (NYSE: NBR) today reported first quarter 2023 operating revenues of $779 million, an increase of 2.5%, compared to operating revenues of $760 million in the fourth quarter of 2022. The net income attributable to Nabors shareholders for the quarter was $49 million, or $4.11 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163739/000110465923049162/0001104659-23-049162-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.