Nabors Q2 2026 revenue $815M, net loss $22M; raises Lower 48 rig count outlook

NABORS INDUSTRIES LTD

Operating revenues $814.8M (+4% QoQ); net loss $22M; adjusted EBITDA $221.7M (Q1: $204.8M).
Lower 48 avg rigs 67.8 (+2.5 QoQ); International avg 93.4 (+0.8 QoQ); total 171.2.
SANAD deployed 16th newbuild rig; three more expected in 2026. Lower 48 added 5 rigs in Q2, working count now 73.
Full-year 2026 adjusted EBITDA guidance raised to $920-930M; adjusted free cash flow $20-30M; CapEx reduced to $710-730M.
Q3 2026 guidance: Lower 48 avg 73 rigs, daily margin ~$13,800; International avg 94-96 rigs, daily margin $18,100-$18,400.

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