Nabors Q1 revenue $734M; net loss $34M ($4.54/sh); international awards boost outlook

NABORS INDUSTRIES LTD

2024-Q1 EPS reported -$4.54 revenue$733,704,000

Operating revenue $734M (Q4: $726M); net loss attributable $34M ($4.54/diluted) vs $17M ($2.70) Q4.
Adjusted EBITDA $221M (Q4: $230M); U.S. Drilling $120.4M, International $102.5M, Drilling Solutions $31.8M, Rig Tech $6.8M.
Awarded three rigs in Argentina (multiyear); commercial qualification for three rigs in Middle East; Canrig order for six land packages.
Q2 guidance: Lower 48 avg rig ~70, daily margin ~$15,500; International rig count up 2-3, margin ~$15,700.
Capex ~$190M in Q2, ~$590M full year including newbuilds; retired 2024/2025 notes, next maturity 2026.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NABORS INDUSTRIES LTD reported financial results for first quarter 2024.

Period: first quarter 2024
Result: reported results

Exact text from the filing

Nabors Industries Ltd. (“Nabors” or the “Company”) (NYSE: NBR) today reported first quarter 2024 operating revenues of $734 million, compared to operating revenues of $726 million in the fourth quarter of 2023. The net loss attributable to Nabors shareholders for the quarter was $34 million, compared to a net loss of $17 million in the fourth quarter. This equates to a loss of $4.54 per diluted share, compared to a loss per diluted share of $2.70 in the fourth quarter.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NABORS INDUSTRIES LTD reported financial results for first quarter 2024.

Period: first quarter 2024
Result: reported results

Exact text from the filing

First quarter adjusted EBITDA was $221 million, compared to $230 million in the previous quarter.

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Source: SEC EDGAR

accession 0001104659-24-051380

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