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Nabors Industries (NBR)
NYSE:NBR
Earnings Data
Report Date
Apr 29, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-2.21Last Year’s EPS
2.18Same Quarter Last Year
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall, the call conveyed a predominantly positive operational and financial trajectory: substantial debt reduction, improved credit profile, robust integration synergies from Parker, strong international rig additions (SANAD), and free cash flow outperformance in 2025. These positives outweigh the near-term headwinds — notably SANAD cash consumption, commodity price uncertainty, some regional operational disruptions (Colombia, Venezuela), and sequential revenue/EBITDA impacts from the Quail divestiture. Management maintained cautious guidance for H2 2026 but provided concrete plans to continue delevering and grow EBITDA normalized for Quail.Company Guidance
Material Net Debt Reduction and Capital Structure Improvement
Reduced net debt by $554 million vs. end of 2024, improved net leverage to ~1.7x (lowest since 2008), extended weighted average debt maturity to 5.3 years (from 3.7) and executed debt refinancings (issued $700M notes, redeemed near-term maturities), lowering annualized cash interest expense by ~ $45 million.
Full-Year Revenue and Adjusted EBITDA Growth
Full year 2025 revenue of $3.2 billion, up 8.7% year-over-year (driven by Parker acquisition and international expansion). Full year adjusted EBITDA was $913 million, up $31 million vs. prior year.
Fourth Quarter Adjusted EBITDA Beat
Q4 adjusted EBITDA of $222 million (EBITDA margin 27.8%) exceeded guidance and prior expectations despite divestiture impacts; Q4 EBITDA outperformed the outlook provided on the prior call.
Strong Free Cash Flow Outperformance and Working Capital Progress
Generated Q4 adjusted free cash flow of $132 million and full-year adjusted free cash flow of ~$117 million, materially above the revised post‑Parker guidance of ~$80 million. Sequential working capital improvement of ~ $40 million driven by higher collections in Mexico and one-time claim settlements.
Parker Wellbore Integration Delivering Synergies
Realized synergies at an annualized run rate of $63 million (above $60M target) and achieved 2025 EBITDA target for retained Parker operations (~$55 million). Company projects retained Parker businesses will contribute at least $70 million in adjusted EBITDA in 2026.
International Drilling Momentum and SANAD New-Build Expansion
International Drilling revenue grew sequentially to $424 million (up 4.1% Q/Q) with average rig count up ~4 rigs to 93.3. SANAD deployed its 14th new-build in Q4, expects five more in 2026 (total ~19) and continuation of the multi‑year new-build program (targeting incremental annualized EBITDA >$60M per five‑rig tranche).
U.S. Lower 48 Operational Improvements and New Rig Tech Adoption
Lower 48 rig count accelerated to a Q4 high of 62 and recent count to 66; average daily margin in Lower 48 increased modestly (~1.2% to $13,303). High-spec PACE-X Ultra rig performing well (first unit in service since mid‑September) with interest to deploy additional upgraded rigs.
Nabors Drilling Solutions (NDS) Outperformance and Third-Party Growth
NDS penetration on third-party rigs improved: revenue on third‑party rigs (excluding Quail) increased sequentially by 10% while the third-party rig count rose only 1%; NDS EBITDA (normalized for Quail) grew ~2.3% Q/Q and margin improved.
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 |
|---|---|---|---|
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% |
Apr 29, 2025 | $28.86 | $26.84 | -7.00% |
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 Apr 29, 2026, After Close (Confirmed).
What is Nabors Industries (NBR) earnings time?
Nabors Industries (NBR) earnings time is at Apr 29, 2026, After Close (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 2026 (Q1) is -2.21.