Published on 6 Feb 2024 on GuruFocus.com via Yahoo Finance

Nabors Industries Ltd (NBR) Reports Improved Financials Amidst Market Challenges

Operating Revenues: Q4 2023 operating revenues reached $726 million, a slight decrease from Q3's $734 million.Net Loss: Net loss attributable to Nabors shareholders improved to $17 million in Q4, down from a $49 million net loss in Q3.Adjusted EBITDA: Q4 adjusted EBITDA increased to $230 million from $210 million in the previous quarter.Annual Performance: Full-year 2023 operating revenues were $3.0 billion, up 13% from the previous year, with a net loss of $11.8 million compared to a $350.3 million loss in 2022.Free Cash Flow: Adjusted free cash flow for Q4 was $52 million, a significant improvement from the prior period.

Warning! GuruFocus has detected 2 Warning Signs with NBR.

On February 6, 2024, Nabors Industries Ltd (NYSE:NBR) released its 8-K filing, detailing the financial results for the fourth quarter of 2023. The company, known for owning and operating one of the world's largest land-based drilling rig fleets and providing offshore platform rigs, reported a net loss of $17 million for the quarter. This marks a substantial improvement from the $49 million net loss in the third quarter. The adjusted EBITDA for the quarter stood at $230 million, up from $210 million in the previous quarter.