Nabors Industries (NBR) Misses Q2 EPS

Nabors Industries (NYSE: NBR) reported Q2 EPS of ($0.31), which may not compare to the analyst estimate of $1.63. Revenue for the quarter came in at $767 million versus the consensus estimate of $773.03 million.

Nabors Industries Ltd. reported second quarter 2023 operating revenues of $767 million, compared to operating revenues of $779 million in the first quarter. The net income attributable to Nabors shareholders for the quarter was $5 million, compared to $49 million in the first quarter. This equates to a loss of $0.31 per diluted share, compared to earnings per diluted share of $4.11 in the first quarter. The second quarter results included a gain, related to mark-to-market treatment of Nabors warrants, of $18 million, or $1.95 per diluted share, as compared to a gain of $34 million, or $3.48 per diluted share in the first quarter. The first quarter also included a $25 million, or $2.06 per diluted share, gain on the redemption of debt. Second quarter adjusted EBITDA was $235 million, compared to $240 million in the previous quarter.

For earnings history and earnings-related data on Nabors Industries (NBR) click here.

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