---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-083832"
form_type: "8-K"
ticker: "NBR"
cik: "0001163739"
company_name: "NABORS INDUSTRIES LTD"
filed_at: "2023-07-25T23:59:59+00:00"
generated_at: "2026-06-13T02:51:00.532766+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Nabors Q2 2023: Revenue $767M, diluted EPS loss $0.31; Lower 48 weakness; Q3 guidance soft

## Summary
- Operating revenues $767M (down 1.5% from $779M Q1); net income $5M (down from $49M); diluted EPS -$0.31 vs $4.11 prior.
- Adjusted EBITDA $235M (down from $240M Q1). U.S. Drilling $141.4M, Intl $98.3M, Drilling Solutions $32.8M, Rig Tech $6.4M.
- Lower 48 average rig count 82; daily adjusted gross margin $16,890 (up $200). Q3 outlook: 74-76 rigs, margin ~$16,000.
- Adjusted free cash flow $27M; capex $152M ($66M for Saudi newbuilds). Net debt $2.074B.
- Q3 2023 adj free cash flow guidance ~$80M, full year $300-350M. Lower 48 oil-drilling decline worse than anticipated.

## SEC filing metadata
- accession: 0001104659-23-083832
- form_type: 8-K
- ticker: NBR
- cik: 0001163739
- company_name: NABORS INDUSTRIES LTD
- filed_at: 2023-07-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1163739/000110465923083832/0001104659-23-083832-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163739/000110465923083832/tm2321906d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-083832
- JSON: https://secwatch.observer/filing/0001104659-23-083832.json
- Plain text: https://secwatch.observer/filing/0001104659-23-083832.txt

## Key facts
- Earnings Releases
  NABORS INDUSTRIES LTD reported second quarter 2023 results: revenue $767 million, net income $5 million, EPS a loss of $0.31 per diluted share.
  - Period: second quarter 2023
  - Revenue: $767 million
  - Net income: $5 million
  - EPS: a loss of $0.31 per diluted share
  - Result: reported results
  source text: Nabors Industries Ltd. (“Nabors” or the “Company”) (NYSE: NBR) today reported second quarter 2023 operating revenues of $767 million, compared to operating revenues of $779 million in the first quarter. The net income attributable to Nabors shareholders for the quarter was $5 million, compared to $49 million in the first quarter. This equates to a loss of $0.31 per diluted share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163739/000110465923083832/0001104659-23-083832-index.htm

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