Nabors Indsustries Stock Price, News & Analysis

Nabors Industries reported a strong third quarter 2022, with operating revenues of $694 million, up 10% from the previous quarter. The net loss shrank to $14 million or $1.80 per share, significantly improved from a loss of $83 million in Q2. Adjusted EBITDA rose 21% to $191 million. Key segments showed growth, especially in U.S. Drilling, with an average daily margin increase of 28%. The company expects further improvements, projecting solid fourth-quarter metrics and a focus on reducing net debt below $2 billion by year-end.

Nabors Industries Ltd. (NYSE: NBR) will discuss its third-quarter operating results on October 26, 2022, at 1:00 p.m. CDT. Earnings will be released after the market closes on October 25, 2022. Interested parties can join via a conference call or a live audio webcast on the company's website. The call will also be available for replay until November 2, 2022. For more information on energy technology leadership, visit Nabors.com.

Nabors Industries reported second quarter 2022 operating revenues of $631 million, an 11% increase from Q1 2022. The company posted a net loss of $83 million, compared to a loss of $184 million in Q1. Adjusted EBITDA rose 21% to $158 million. Key U.S. Drilling segment adjusted EBITDA increased 18%, driven by improved performance in the Lower 48 market, where average daily revenue rose by over $2,500. The firm anticipates further growth with projected rig additions and higher dayrates. Free cash flow reached $57 million, while net debt decreased to $2,184 million.

Nabors Industries Ltd. (NYSE: NBR) announced a $7 million investment in Natron Energy, Inc. to enhance sodium-ion battery production at its Michigan facilities. This strategic move aims to penetrate the industrial power and energy transition markets, particularly in drilling where sodium-ion batteries can serve as effective energy storage solutions. Natron's batteries offer advantages like higher power density and longer service life without utilizing challenging-to-obtain materials. This collaboration strengthens Nabors' commitment to clean energy initiatives and carbon reduction in the oilfield.

Nabors Industries Ltd. (NYSE: NBR) will host a conference call on August 4, 2022, at 12:00 p.m. CDT to discuss its second-quarter 2022 operating results, following the earnings release on August 3, 2022. The call will feature CEO Anthony G. Petrello and CFO William Restrepo. Participants can join via dial-in numbers provided for North America and international callers. A recording of the call will be available for replay until August 11, 2022. For more details, visit www.nabors.com.

Nabors Industries reported Q1 2022 operating revenues of $569 million, up 5% from Q4 2021. However, the company posted a net loss of $184 million or $22.51 per share, compared to a loss of $114 million in the prior quarter. A non-cash charge of $72 million impacted these results. Adjusted EBITDA was $131 million, a slight decrease from the previous quarter. Despite challenges in international operations and a negative EBITDA in Rig Technologies, growth in U.S. drilling and strategic initiatives support a positive outlook for 2022.

Nabors Industries Ltd. (NYSE: NBR) has scheduled a conference call for April 28, 2022, at 12:00 p.m. CT to discuss its first-quarter financial results for the period ending March 31, 2022. The earnings release will be available after market close on April 27, 2022. Interested participants can join the call by dialing in, with specific numbers provided for North America and international attendees. A live audio webcast will also be available on Nabors' website, featuring an electronic version of the earnings release and supplemental presentation.

Nabors Industries (NYSE: NBR) has made a strategic USD 8 million investment in GA Drilling, enhancing its clean energy portfolio. This collaboration seeks to integrate GA Drilling's innovative PLASMABIT® technology with Nabors' drilling operations, aiming to reduce economic barriers for ultra-deep geothermal projects. The move supports Nabors' energy transition strategy and aims to make geothermal energy more accessible globally. This investment aligns with Nabors' commitment to lower-carbon energy solutions, driven by projected increases in global energy demand.

Nabors Industries Ltd. (NYSE: NBR) announced that effective April 25, 2022, Warrant holders will no longer receive incentive shares upon exercising their Warrants as per the Warrant Agreement dated June 10, 2021. This change is in compliance with Section 3.02 of the agreement. Nabors is a key player in the energy sector, leveraging advanced technology across over 15 countries to foster safe and efficient energy production while driving the transition to a lower carbon future.