---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-041336"
form_type: "8-K"
ticker: "NBR"
cik: "0001163739"
company_name: "NABORS INDUSTRIES LTD"
filed_at: "2025-04-29T23:59:59+00:00"
generated_at: "2026-05-23T03:28:20.278171+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Nabors Q1 net income $33M ($2.18/diluted EPS); completes Parker Wellbore acquisition; provides Q2 outlook

## Summary
- Q1 operating revenues $736M, net income $33M vs Q4 loss $54M; adjusted EBITDA $206M vs $221M Q4; includes $113M Parker gain and $28.6M Russia wind-down charges.
- Completed Parker Wellbore acquisition in March; expected to add $130M incremental 2025 adjusted EBITDA and $40M cost synergies.
- International Drilling adjusted EBITDA $115.5M, daily margin $17,421; U.S. Drilling $92.7M with Lower 48 rig count averaging 61 (vs 66 Q4) and daily margin $14,276.
- Q2 outlook: Lower 48 rigs 63-64, international rigs 85-86, Drilling Solutions EBITDA ~$75M; full-year capex $770-780M.
- Adjusted free cash flow use of $71M in Q1; target $80M for 2025 excluding tariff impacts ($10-20M estimated).

## SEC filing metadata
- accession: 0001104659-25-041336
- form_type: 8-K
- ticker: NBR
- cik: 0001163739
- company_name: NABORS INDUSTRIES LTD
- filed_at: 2025-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163739/000110465925041336/0001104659-25-041336-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163739/000110465925041336/tm2513359d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-041336
- JSON: https://secwatch.observer/filing/0001104659-25-041336.json
- Plain text: https://secwatch.observer/filing/0001104659-25-041336.txt

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