Nabors Industries Ltd. (NBR)
NYSE:NBR
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Earnings Data
Report Date
Aug 04, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-1.7Last Year’s EPS
-2.71Same Quarter Last Year
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a constructive and cautiously optimistic view: operational momentum in the Lower 48 (rig additions and higher sequential revenue), continued international expansion (SANAD newbuilds and geographic diversification), strong product performance (PaceX Ultra and high NDS cash conversion), and tangible progress on debt reduction and free cash flow versus prior expectations. Headwinds include measurable impacts from the Middle East conflict (logistics, crew rotations, short-term EBITDA hits), a sequential decline in consolidated margins, Rig Technologies softness, and temporary regional disruptions (Colombia, Venezuela). Management maintained disciplined capital guidance and reiterated long-term leverage targets, signaling confidence in recovery and value creation.Company Guidance
Consolidated Revenue
Q1 consolidated revenue of $784 million.
Lower 48 Rig Count Growth
Working rig count in the Lower 48 increased to 66 at quarter end (added 4 rigs in Q1 and 8 rigs since Nov 2025); Lower 48 revenue up $11 million sequentially (5.9%) to $192 million; average Lower 48 rig count rose to 65.3 and currently 66 rigs working.
International Rig Expansion and SANAD Newbuilds
International drilling rig count expanded (international rig count up 16% since 2023); SANAD deployed its 15th newbuild in Q1, with 4 additional new rigs planned in 2026 (19 newbuilds) and the 20th targeted for early 2027; discussions underway to extend the program toward 25 newbuilds; each tranche expected to generate >$60 million in annual EBITDA.
PaceX Ultra Performance and Pricing Power
PaceX Ultra rigs demonstrate premium economics with daily revenue (including NDS content) well above $40,000; 1 unit working, agreements to deploy 2 more this year, and further upgrade discussions with multiple operators signaling pricing/kickback potential for high-spec rigs.
Drilling Solutions (NDS) Cash Conversion
NDS revenue of $106 million (flat sequentially) with EBITDA of $39 million and a record conversion of ~94% of EBITDA to free cash flow, underscoring low capital intensity and strong cash generation in the segment.
Free Cash Flow and Working Capital Outperformance
Consolidated adjusted free cash flow consumption of $48 million in Q1 but exceeded midpoint guidance by >$35 million; free cash flow outside SANAD was nearly breakeven, driven by better-than-expected working capital progression and CapEx below plan.
Debt Reduction and Capital Structure Progress
Redeemed remaining $379 million of senior guaranteed notes due 2028 in Q1, pushing nearest maturity to June 2029 and leaving a manageable $250 million maturity; reiterated long-term net leverage target of ~1.0x.
Guidance Improvements and Forward Expectations
Upgraded activity outlook: Q2 International Drilling average rig count expected 93–95 with average daily gross margin guiding to $17,400–$17,500; Lower 48 average rig count expected to rise to 67–68 (exit Q2 ~69) with Q2 daily adjusted gross margin ~ $13,300; company expects to exceed full-year adjusted free cash flow guidance.
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 |
|---|---|---|---|
Apr 28, 2026 | $90.70 | $93.62 | +3.22% |
Feb 11, 2026 | $70.88 | $63.88 | -9.88% |
Oct 28, 2025 | $47.17 | $51.98 | +10.20% |
Jul 29, 2025 | $33.45 | $34.19 | +2.21% |
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 Ltd. (NBR) report earnings?
Nabors Industries Ltd. (NBR) is schdueled to report earning on Aug 04, 2026, After Close (Confirmed).
What is Nabors Industries Ltd. (NBR) earnings time?
Nabors Industries Ltd. (NBR) earnings time is at Aug 04, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is NBR EPS forecast?
NBR EPS forecast for the fiscal quarter 2026 (Q2) is -1.7.