CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Nabors Q3 revenue beats estimates

By Reuters News


Overview

  • Drilling technology firm's Q3 operating revenue rose, beating analyst expectations

  • Adjusted EBITDA rose nearly 11% from Q2, driven by record international drilling margins and fleet growth

  • Company generated $75 mln in adjusted free cash flow for the quarter


Outlook

  • Nabors expects full-year 2026 adjusted EBITDA of about $930 mln

  • Company sees full-year adjusted free cash flow of $100 mln to $110 mln

  • Nabors expects 2026 capital spending of $710 mln to $720 mln


Result Drivers

  • RECORD INTERNATIONAL MARGINS - Co said strong field performance and high-margin rig deployments boosted international drilling margins

  • LOWER 48 FLEET GROWTH - Co attributed improved results to a larger working fleet and higher daily margins in the Lower 48


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Operating Revenue

Beat

$872.20 mln

$861.59 mln (5 Analysts)

Q3 Adjusted EBITDA

$245.50 mln

Q3 Adjusted Operating Income

$85.80 mln

Q3 Pretax Profit

$36.43 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas drilling peer group is "buy."

  • Wall Street's median 12-month price target for Nabors Industries Ltd. is $110.00, about 33.7% above its October 26 closing price of $82.29

  • The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 148 three months ago


Reuters Recommended Reads

  • Oct 26 - Noble Q3 net loss widens on rigs transitioning between contracts; co lowers FY revenue guidance

  • Oct 26 - Borr Drilling shares fall after rig sinks offshore Gabon

  • Oct 27 - Freeport-McMoRan Q3 revenue rises on higher copper prices


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.