secwatch.observer — SEC 8-K summary
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Issuer:     NABORS INDUSTRIES LTD (NBR)
CIK:        0001163739
Form:       8-K
Filed at:   2025-04-29T23:59:59+00:00
Accession:  0001104659-25-041336
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163739/000110465925041336/0001104659-25-041336-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163739/000110465925041336/tm2513359d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-041336

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