secwatch.observer — SEC 8-K summary
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Issuer:     NABORS INDUSTRIES LTD (NBR)
CIK:        0001163739
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0001104659-23-049162
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163739/000110465923049162/0001104659-23-049162-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163739/000110465923049162/tm2313594d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-049162

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer