secwatch.observer — SEC 8-K summary
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Issuer:     NABORS INDUSTRIES LTD (NBR)
CIK:        0001163739
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0001104659-23-083832
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163739/000110465923083832/0001104659-23-083832-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163739/000110465923083832/tm2321906d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-083832

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