Nabors (NBR) Incurs Loss in Q1 Earnings Season, Sales Beat

Published on 25 Apr 2024 on Zacks via Yahoo Finance

Nabors (NBR) Incurs Loss in Q1 Earnings Season, Sales Beat

Nabors Industries NBR reported a loss per share of $4.54 in the first quarter of 2024. In the year-ago quarter, the company had reported a profit of $4.11 per share. This underperformance was primarily due to much higher year-over-year total costs and expenses.

Revenues of $743.9 million beat the Zacks Consensus Estimate of $731 million. However, the top line decreased from the year-ago quarter’s level of $789 million. This was due to poor contribution from NBR’s U.S. Drilling and Rig Technologies segments.

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