Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Nabors Industries (NBR)
NYSE:NBR
Holding NBR?
Track your performance easily
Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$2.04Last Year’s EPS
-$1.56Same Quarter Last Year
Based on 6 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: -24.04%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed performance for Nabors Industries. While the company showcased significant growth and strategic advancements, particularly in international markets and technology, it also faced challenges such as rig suspensions in Saudi Arabia and pressure on U.S. rig margins. The acquisition of Parker Wellbore is expected to enhance growth and align with Nabors' long-term strategy. Despite some financial pressures, the overall sentiment leans slightly towards positive due to strong growth prospects and strategic moves.Company Guidance
During Nabors Industries' Q3 2024 earnings call, the company provided guidance highlighting an adjusted EBITDA of $222 million, with international segment margins exceeding $17,000 per day and U.S. Lower 48 daily margins above $15,000. The Drilling Solutions segment saw a sequential EBITDA increase of 5.7%. Nabors anticipates deploying three more international rigs by the end of 2024, with further deployments planned for 2025. The global average rig count was stable at 159, with international counts slightly increasing and U.S. counts slightly declining. The company expects to retire debt using over $80 million in free cash flow generated through the year and aims for free cash flow between $100 million and $130 million for 2024. Nabors highlighted its acquisition of Parker Wellbore, projected to contribute $180 million in EBITDA for 2024, enhancing the company's drilling solutions and rig technologies segments.Acquisition of Parker Wellbore
Nabors is excited about the acquisition of Parker Wellbore, which is expected to accelerate the company's strategy, especially in the Drilling Solutions segment. The acquisition is seen as a strategic fit and is expected to enhance Nabors' portfolio with Parker's businesses and geographic footprint.
Strong Performance in International Markets
Nabors' international markets remain a strong source of growth with three more international rigs expected to start by the end of 2024. The international segment's margin exceeded $17,000, driven by growth in the international business and a positive mix shift in the U.S.
Growth in Drilling Solutions Segment
Adjusted EBITDA in the Drilling Solutions segment increased sequentially by 5.7%, with a strong performance driven by international growth and a shift towards a positive mix in the U.S.
Resilient U.S. Market Performance
Despite a 3% sequential decrease in the average Lower 48 industry rig count, daily margins remained robust above the $15,000 mark. The market supports historically attractive daily rig margins.
Innovative Technology and Automation
Nabors' technology and innovation saw sequential growth with NDS International revenue and EBITDA increasing significantly, driven by increased installations of performance software and automation systems.
Financial Improvements and Debt Management
Nabors delivered over $80 million of free cash flow through the first three quarters and issued 7-year notes, improving the weighted average maturity of its notes to approximately 4.5 years.
---
NBR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
NBR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $71.42 | $70.17 | -1.75% |
| Jul 23, 2024 | $81.00 | $89.44 | +10.42% |
| Apr 24, 2024 | $80.13 | $76.24 | -4.85% |
| Feb 06, 2024 | $81.28 | $80.32 | -1.18% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Nabors Industries (NBR) report earnings?
Nabors Industries (NBR) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Nabors Industries (NBR) earnings time?
Nabors Industries (NBR) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NBR EPS forecast?
NBR EPS forecast for the fiscal quarter 2024 (Q4) is -$2.04.
---