Nabors Q4 2025 revenue $798M; net income $10M; reduces net debt by $554M since YE 2024

NABORS INDUSTRIES LTD

2025-FY EPS reported $17.39 revenue$3,184,693,000

Operating revenues $798M vs $818M Q3; net income $10M ($0.17 diluted EPS) vs $274M in Q3 (incl. $314M Quail gain).
Adjusted EBITDA $222M vs $236M Q3; adjusted free cash flow $132M vs $6M Q3.
Completed $700M notes due 2032, redeemed $546M notes due 2027; net debt reduced ~$554M since end of 2024.
Q1 2026 guidance: Lower 48 avg. rig count 64-65; Intl. avg. rig count 91-92; capex $170-180M.
SANAD joint venture deployed one newbuild rig in Saudi Arabia (14 total); five more newbuilds planned in 2026.

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