Nabors Industries Ltd. ( (NBR) ) has released its Q4 earnings. Here is a breakdown of the information Nabors Industries Ltd. presented to its investors.
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Nabors Industries Ltd., a leading provider of advanced technology for the energy industry, operates globally across more than 20 countries, deploying solutions that enhance safe and efficient energy production. The company’s core capabilities lie in drilling, engineering, automation, data science, and manufacturing to innovate the future of energy.
In the fourth quarter of 2024, Nabors Industries reported operating revenues of $730 million, which marked a slight decrease from the previous quarter’s $732 million. The company experienced a net loss of $54 million, slightly improved from a $56 million loss in the third quarter. Adjusted EBITDA stood at $221 million, maintaining stability compared to the previous quarter.
Key financial highlights include the approval of a merger with Parker Wellbore and the acquisition of new rig contracts in Argentina and Colombia. The company also saw growth in its Rig Technologies segment, with significant rig upgrades in the U.S. Nabors’ joint venture with Saudi Aramco, known as SANAD, continued to expand its rig fleet, with expectations to significantly enhance EBITDA contributions in 2025.
Despite challenges in the U.S. market from recent mergers and modulated activity levels, Nabors remains optimistic about international opportunities, particularly in Saudi Arabia and Latin America. The company’s strategic focus is on improving efficiency and aligning its cost structure to match stable market activity.
Looking forward, Nabors anticipates stable market conditions in early 2025, with plans to optimize its operations and further capitalize on international growth opportunities. The integration of Parker Wellbore is expected to bolster the company’s Drilling Solutions segment, enhancing its position in the energy technology sector.
