Published on 30 Oct 2023 on Zacks via Yahoo Finance
Nabors (NBR) Q3 Earnings Fall Y/Y, Sales Miss Estimates
Nabors Industries NBR reported a third-quarter 2023 loss per share of $6.26 per share, wider than the year-ago quarter’s reported loss of $1.8. This underperformance was primarily due to much higher year-over-year total costs and expenses.
Revenues of $744.1 million missed the Zacks Consensus Estimate of $758 million. This was due to lower-than-expected operating income from the U.S. Drilling Segment. The top line improved from the year-ago quarter’s level of $699 million.
Adjusted EBITDA increased to $210 million from $190.8 million recorded a year ago. The amount is slightly lower than our model estimate of $210.6 million.