HAMILTON, Bermuda, July 17, 2024 /PRNewswire/ — Nabors Industries Ltd. (NYSE: NBR) (“Nabors” or “the Company”) today announced preliminary operating results for the second quarter ended June 30, 2024, showcasing ongoing international expansion and stable U.S. market activity and pricing.
Key Preliminary Results:
- Operating Revenue: Approximately $735 million
- Income (Loss) Before Income Taxes: Between ($5) million and $5 million
- Adjusted EBITDA: Approximately $218 million
- Adjusted Free Cash Flow: Between $55 million and $60 million
Operational Highlights:
- U.S. Operations: Averaged 68.7 rigs in the Lower 48 states with an average gross margin of $15,598 per rig day.
- International Operations: Averaged 84.4 rigs with an average gross margin of $16,050 per rig day.
Nabors plans to release its full second-quarter financial results after market close on July 23, 2024, followed by an earnings conference call at 10:00 a.m. CT on July 24, 2024.
These preliminary results are based on estimates and subject to finalization. The final results may differ materially from these estimates after the completion of the financial closing procedures.
About Nabors Industries
Nabors Industries (NYSE: NBR) is a global leader in advanced technology for the energy sector, operating in over 20 countries. Nabors leverages its expertise in drilling, engineering, automation, data science, and manufacturing to deliver safe and efficient energy production, contributing to a lower-carbon future. For more information, visit www.nabors.com.
