Published on 25 Apr 2024 on GuruFocus.com via Yahoo Finance
Nabors Industries Ltd (NBR) Q1 2024 Earnings: Misses Analyst Projections Amidst Revenue Growth
Revenue: Reported Q1 2024 operating revenues of $734 million, slightly above estimates of $728.89 million.Net Loss: Posted a net loss of $34 million, significantly worse than the estimated net loss of $14.17 million.Earnings Per Share (EPS): Recorded a loss per diluted share of $4.54, substantially below the estimated EPS of -$1.67.Adjusted EBITDA: Achieved $221 million in adjusted EBITDA, indicating robust operational performance despite financial losses.Free Cash Flow: Generated adjusted free cash flow of $8 million, continuing efforts to manage capital effectively amidst challenging conditions.Capital Expenditures: Capital expenditures totaled $112 million, focused on strategic investments including newbuilds in Saudi Arabia.International Operations: International rig count increased, driven by new rig startups in Saudi Arabia and Algeria, highlighting growth in global market presence.
Warning! GuruFocus has detected 3 Warning Signs with NBR.