NBR

It has been about a month since the last earnings report for Nabors Industries (NBR). Shares have added about 10.4% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Nabors due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Nabors Industries reported a second-quarter 2026 adjusted loss of $2.04 per share, wider than the Zacks Consensus Estimate of a loss of $1.54. However, the metric is lower than the prior-year quarter’s reported loss of $2.71 per share, backed by higher year-over-year operating profit from the International Drilling segment. The oil and gas drilling company’s operating revenues of $814.8 million beat the Zacks Consensus Estimate of $812 million, driven by higher year-over-year revenues from the International Drilling segment. However, the top line decreased from the year-ago quarter’s $832.8 million, caused by lower contributions from the U.S. Drilling and Drilling Solutions segments. Adjusted EBITDA totaled $221.7 million, down from $248.5 million in the prior-year quarter but up from $204.8 million in the first quarter of 2026. The metric beat our model estimate of $217.2 million. U.S. Drilling generated operating revenues of $252.5 million, down from the year-ago quarter’s $255.4 million and higher than the prior quarter’s $241.1 million. However, the figure missed our model estimate of $279.2 million. Operating profit totaled $31 million compared with $39.8 million in the year-ago quarter. The figure missed our estimated profit of $35.1 million. Adjusted EBITDA from the segment totaled $94.1 million, down from $101.8 million a year ago but above $88.1 million in the previous quarter. The figure missed our model estimate of $102.4 million. The Lower 48 average rig count increased to 67.8 rigs from 62.4 rigs in the prior-year quarter and 65.3 rigs in the first quarter of 2026. The company noted that it added five rigs in the Lower 48 market during the second quarter, bringing the current working rig count in the region to 73, up 15 rigs since November 2025. International Drilling reported operating revenues of $432.5 million, up from $385 million in the year-ago quarter and $419.5 million in the first quarter. Moreover, the figure beat our estimate of $404 million. Operating profit totaled $45.9 million compared with $36.1 million in the year-ago quarter. The figure beat our estimated profit of $42.4 million. The segment’s adjusted EBITDA was $130.5 million, compared with $117.7 million a year ago and $121.3 million in the preceding quarter. The figure beat our estimate of $123 million. Average rigs working increased to 93.4 from 85.9 in the year-ago period. Nabors stated that its SANAD land drilling joint venture deployed one newbuild rig in Saudi Arabia during the quarter, bringing total newbuild deployments to 16. Three more newbuilds are scheduled for 2026. The company also reactivated one previously suspended SANAD rig. Drilling Solutions recorded operating revenues of $110.6 million, down from $170.3 million a year ago but up from $106.2 million in the prior quarter. The figure slightly beat our estimate of $110.1 million. Operating profit totaled $32.1 million compared with $39.8 million in the year-ago quarter. The figure beat our estimated profit of $31.3 million. Adjusted EBITDA totaled $40 million, compared with $76.5 million in the year-ago quarter and $38.7 million in the first quarter. Moreover, the figure beat our estimate of $39 million. Rig Technologies generated operating revenues of $37.5 million, up from $36.5 million in the year-ago quarter and $27.2 million in the previous quarter. However, the figure slightly missed our estimate of $37.6 million. Operating profit totaled $1.5 million compared with $1.7 million in the year-ago quarter. The figure beat our estimated profit of $1 million. The segment’s adjusted EBITDA was $3.2 million, compared with $5.2 million a year ago and $0.5 million in the prior quarter. The figure beat our estimate of $3 million. Nabors’ total costs and expenses decreased to $802 million from $818 million in the year-ago quarter. Moreover, the amount was lower than our prediction of $806.4 million. As of June 30, 2026, Nabors had $509.8 million in cash and short-term investments. Long-term debt was about $2.1 billion, with a debt-to-capitalization of 79.6%. Net cash provided by operating activities was $135.2 million in the second quarter. Capital expenditures, net of proceeds from asset sales, totaled $122.9 million, resulting in adjusted free cash flow of $12.3 million. It turns out, estimates review flatlined during the past month. The consensus estimate has shifted -364.71% due to these changes. At this time, Nabors has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a score of A on the value side, putting it in the top quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Nabors has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Nabors is part of the Zacks Oil and Gas - Drilling industry. Over the past month, Noble Corporation PLC (NE), a stock from the same industry, has gained 10.2%. The company reported its results for the quarter ended June 2026 more than a month ago. Noble Corporation PLC reported revenues of $719.69 million in the last reported quarter, representing a year-over-year change of -15.2%. EPS of $0.01 for the same period compares with $0.13 a year ago. For the current quarter, Noble Corporation PLC is expected to post earnings of $0.13 per share, indicating a change of -31.6% from the year-ago quarter. The Zacks Consensus Estimate has changed -45.7% over the last 30 days. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for Noble Corporation PLC. Also, the stock has a VGM Score of D. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nabors Industries Ltd. (NBR) : Free Stock Analysis Report Noble Corporation PLC (NE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q2. Today, we are looking at oilfield services stocks, starting with Nabors Industries (NYSE:NBR). Oilfield services companies provide equipment, technology, and services enabling exploration and production activities, including drilling, completion, well intervention, and reservoir evaluation. Their fortunes closely track upstream capital spending cycles. Tailwinds include increased drilling activity during favorable commodity environments, demand for efficiency-enhancing technologies, and growing offshore and unconventional resource development. Headwinds include significant revenue volatility tied to oil and gas price swings and producer spending discipline. Intense competition pressures pricing and margins, while the energy transition may structurally reduce long-term demand. Workforce availability and technological disruption require continuous adaptation. The 26 oilfield services stocks we track reported a very strong Q2. As a group, revenues beat analysts’ consensus estimates by 4.5%. Luckily, oilfield services stocks have performed well with share prices up 12.4% on average since the latest earnings results. Operating one of the largest land-based drilling rig fleets in the world with over 285 rigs across more than 15 countries, Nabors Industries (NYSE:NBR) operates drilling rigs and provides related services to help oil and gas companies drill wells on land and offshore platforms. Nabors Industries reported revenues of $814.8 million, down 2.2% year on year. This print exceeded analysts’ expectations by 0.9%. Despite the top-line beat, it was still a slower quarter for the company with a significant miss of analysts’ EPS estimates. Anthony G. Petrello, Nabors Chairman, CEO and President, commented, "Second quarter results reflected another quarter of solid operational and financial progress. All our operating segments exceeded the targets we set." Interestingly, the stock is up 21.2% since reporting and currently trades at $91.65. Read our full report on Nabors Industries here, it’s free. Operating the world's largest fleet of offshore drilling rigs across six continents, Valaris (NYSE:VAL) provides offshore drilling rigs and crews to oil and gas companies exploring and producing in deep waters and shallow seas. Valaris reported revenues of $539.2 million, down 12.4% year on year, outperforming analysts’ expectations by 8%. The business had an incredible quarter with a beat of analysts’ EPS estimates. The market seems happy with the results as the stock is up 12% since reporting. It currently trades at $86.23. Is now the time to buy Valaris? Access our full analysis of the earnings results here, it’s free. Operating exclusively in the Permian Basin—one of America's most prolific oil-producing regions—ProPetro (NYSE:PUMP) provides hydraulic fracturing services that pump high-pressure fluid and sand into oil wells to release trapped hydrocarbons. ProPetro reported revenues of $305.8 million, down 6.2% year on year, falling short of analysts’ expectations by 1.6%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates. Interestingly, the stock is up 16.5% since the results and currently trades at $12.42. Read our full analysis of ProPetro’s results here. Operating what's essentially an airborne taxi service for some of the world's most remote workplaces, Bristow Group (NYSE:VTOL) operates helicopters that transport workers to offshore oil and gas platforms and conduct search and rescue operations. Bristow Group reported revenues of $411.8 million, up 9.4% year on year. This number beat analysts’ expectations by 0.9%. Taking a step back, it was a satisfactory quarter as it also produced full-year revenue guidance exceeding analysts’ expectations but a significant miss of analysts’ EPS estimates. The stock is down 3.9% since reporting and currently trades at $45.88. Read our full, actionable report on Bristow Group here, it’s free. Operating across 16 countries from Algeria to Indonesia, NESR (NASDAQ:NESR) provides oilfield services like hydraulic fracturing, cementing, and drilling to oil and gas companies. NESR reported revenues of $520.8 million, up 59.1% year on year. This print topped analysts’ expectations by 17.8%. It was an incredible quarter as it also produced a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates. NESR pulled off the fastest revenue growth in the group. The stock is up 20.9% since reporting and currently trades at $35.09. Read our full, actionable report on NESR here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

Helmerich & Payne, Inc.HP trades at a discount to several sales-based valuation benchmarks after a sharp recovery in operating activity. The discount, though, comes with an earnings profile that remains weak. Cost reductions, asset sales and debt repayment could improve cash generation, while Argentina and offshore work add growth avenues. Persistent losses, Middle East uncertainty and execution demands keep the risk-reward balance from looking decisively bullish. HP trades at 1.05X forward 12-month sales, below the Zacks sub-industry at 3.09X and the Zacks Oils-Energy sector at 1.4X. It also sits below its five-year median of 1.26X, which points to a meaningful relative discount. Image Source: Zacks Investment Research That valuation gap is not enough by itself to make the shares attractive. The company still carries a weaker earnings outlook, so investors must weigh the lower sales multiple against the possibility that profitability takes longer to recover. Fiscal third-quarter 2026 adjusted loss was 11 cents per share, versus the Zacks Consensus Estimate for earnings of 11 cents. Revenues exceeded $1 billion, but the earnings miss showed that better activity has not yet translated into consistent bottom-line strength. Image Source: Helmerich & Payne The consensus outlook remains difficult. Fiscal 2026 earnings are projected at a loss of $1.32 per share, followed by a loss of $2.56 in fiscal 2027, even as sales are expected to rise from about $3.99 billion to $4.26 billion. Management expects enterprise optimization efforts to reduce annualized corporate costs by $40 million by the end of fiscal 2027 and targets more than $160 million of asset-sale proceeds. Fiscal third-quarter free cash flow reached $98 million. HP has already repaid its $400 million term loan ahead of schedule and is focused on retiring the $350 million bond due at the end of 2027. Lower debt and a leaner cost base could expand financial flexibility if operating conditions remain supportive. Argentina is a key growth market, with multiyear contracts expected to lift HP's FlexRig count there to 15 by around fiscal third-quarter 2027. Offshore visibility is another support, with backlog reaching $3.6 billion after a four-year Norway renewal, while a second FlexRobotics package was operating in the Permian. Peer activity shows that these markets remain competitive. Patterson-UTI Energy, Inc. PTEN, a drilling and completion services provider, signed a multiyear agreement to lease two rigs for Argentina's Vaca Muerta. Nabors Industries Ltd. NBR operates a global land-drilling platform and also emphasizes drilling automation and software. Execution risk remains material. Middle East disruptions widened fiscal fourth-quarter international direct-margin guidance to $25 million-$45 million, while fiscal 2026 gross capital expenditures are projected at $270 million-$310 million and cash taxes at $150 million-$180 million. FlexRobotics returns are still not fully disclosed. The valuation discount gives HP some appeal, but the earnings outlook and execution risks argue against treating the shares as a straightforward bargain. The current setup looks better suited to investors willing to wait for clearer evidence of sustained profitability and cash-flow improvement. HP carries a Zacks Rank #3 (Hold), along with a Value Score of C, Growth Score of C, Momentum Score of F and VGM Score of D. The C scores suggest middling value and growth characteristics, while the F Momentum Score and D VGM Score indicate a weaker overall style profile. Those signals support a more selective stance rather than an aggressive bullish call. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Helmerich & Payne, Inc. (HP) : Free Stock Analysis Report Patterson-UTI Energy, Inc. (PTEN) : Free Stock Analysis Report Nabors Industries Ltd. (NBR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Nabors Industries (NYSE:NBR) drew attention after reporting second quarter 2026 results, with quarterly revenue of US$816.93 million and a net loss of US$22.33 million, alongside a swing to a loss for the first half. See our latest analysis for Nabors Industries. The second quarter earnings release appears to have reset expectations for Nabors Industries. The share price stands at US$79.26 after a 1-day share price return of 4.79%. The year-to-date share price return of 43.07% contrasts with a 1-year total shareholder return of 131.82%, while the 3-year total shareholder return declined 32.89%. This suggests that recent momentum has picked up following a weaker multi year stretch. If this earnings move has you looking beyond a single stock, it could be a good moment to scan for other energy related infrastructure opportunities through our curated list of 34 power grid technology and infrastructure stocks The latest move in Nabors Industries shares follows mixed earnings, with a smaller quarterly loss but a swing back into the red for the half year. Are investors reacting to business progress, or simply to shifting sentiment around the stock? At a last close of $79.26 versus a fair value narrative of $108.50, Nabors Industries screens as materially discounted in the most followed valuation storyline. Read the complete narrative. Want to see what sits behind that confidence in Nabors Industries? The narrative leans on steady top line expansion, firmer margins and a valuation multiple that stays surprisingly restrained. The key is how those pieces fit together to back that $108.50 figure. Result: Fair Value of $108.50 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, the Nabors Industries narrative still faces pressure from high debt of about US$2.1b and potential softness in key international drilling markets. Find out about the key risks to this Nabors Industries narrative. With sentiment on Nabors Industries clearly split between concern and optimism, this is a moment to move quickly, review the underlying data and form your own stance. To weigh both sides of the story, start with the 3 key rewards and 3 important warning signs. If Nabors Industries has sharpened your focus, do not stop here. Broader research across high quality opportunities can help you build a more resilient portfolio. Target quality at a discount by checking companies that currently screen as attractively priced with strong fundamentals through our curated list of 49 high quality undervalued stocks. Prioritise resilience by reviewing stocks that show strong balance sheets and healthy financial profiles in the solid balance sheet and fundamentals stocks screener (48 results). Spot potential early movers by scanning a screener containing 21 high quality undiscovered gems before the wider market pays attention. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NBR. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in Nabors Industries Ltd.? Here are five stocks we like better. Nabors exceeded its Q2 outlook, reporting $222 million in adjusted EBITDA on $315 million of revenue, with EBITDA margin expanding to 27.2%. The company raised its 2026 EBITDA forecast to $920 million–$930 million and expects $20 million–$30 million in adjusted free cash flow. International and U.S. drilling operations strengthened. Saudi Arabia-led international drilling margins surpassed guidance, while Lower 48 activity rose to 73 working rigs with improved pricing and daily margins; Nabors expects further pricing gains through 2026 and into 2027. Technology growth supports profitability, but SANAD spending remains a cash-flow headwind. Drilling Solutions revenue increased 4.2% sequentially, while full-year capital spending is projected at $710 million–$730 million, including significant SANAD new-build investment. Nabors continues targeting at least $100 million of gross debt reduction in 2026. 3 Bargain-Cheap Small Caps Worth a Second Look Nabors Industries (NYSE:NBR) reported second-quarter 2026 adjusted EBITDA of $222 million, exceeding its prior outlook across all four reporting segments, as stronger daily margins in its U.S. Lower 48 and international drilling operations helped lift profitability. Chairman, President and Chief Executive Officer Tony Petrello said the company’s performance reflected “disciplined commercial execution, operational excellence, and outstanding work” by its global teams. Chief Financial Officer Miguel Rodriguez said consolidated revenue was $315 million, up $31 million sequentially, while EBITDA margin expanded 107 basis points to 27.2%. → Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Helmerich & Payne Stock, A Lot More Upside Than Meets the Eye The company raised its full-year EBITDA outlook to between $920 million and $930 million, citing first-half performance and continued momentum across its drilling and technology businesses. Nabors also now expects full-year adjusted free cash flow of $20 million to $30 million, including expected cash consumption of $60 million to $80 million at its SANAD joint venture. International Drilling revenue rose 3.1% sequentially to $432 million, while segment EBITDA increased 7.6% to $131 million. Average daily rig margin increased by $654 to $17,534, exceeding the high end of the company’s guidance range. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now Saudi Arabia remained central to Nabors’ international strategy. The company’s SANAD joint venture placed its 16th new-build rig into service during the quarter and returned one previously suspended rig to work. SANAD now operates 55 rigs in the kingdom, representing a 28% market share, according to Petrello. Petrello said approximately 196 land rigs are operating in Saudi Arabia, up 35 from the market’s recent low in the third quarter of 2025 but still 28 below its early-2024 peak. He said SANAD has 34 rigs remaining for delivery under its 50-rig new-build program, creating a multiyear growth runway. → 3 Value ETFs to Consider as Growth Stocks Lag Behind The company expects International Drilling average rig count of 94 to 96 in the third quarter, including the deployment of SANAD’s 17th new-build rig, an idle U.S. rig moving to Argentina, and a short-term geothermal contract in Indonesia. Nabors expects international daily gross margin of $18,100 to $18,400 in the third quarter. In Argentina, Nabors operated 13 rigs at quarter-end, with another rig earning revenue under an operations and maintenance contract. The company is mobilizing an additional rig to the country, which would bring its total to 14. Petrello said Nabors holds roughly a 30% market share in Argentina and that five working rigs there had previously been idle in the Lower 48. Drilling Solutions represented about 46% of Nabors’ Argentina EBITDA in the first half, Petrello said, reflecting adoption of the company’s technology portfolio in the Vaca Muerta region. Nabors also said it has five idle rigs in Venezuela and believes the country could become a longer-term opportunity if drilling activity resumes under suitable commercial conditions. U.S. Drilling revenue increased 4.7% sequentially to $252 million, while EBITDA rose 6.8% to $94 million. Within the Lower 48, revenue rose 7.8% to $207 million as Nabors added five rigs across major basins and benefited from improved pricing. Average Lower 48 working rig count increased by 2.5 rigs to 67.8 during the quarter. Nabors exited the period with 71 rigs working and subsequently increased activity to 73 rigs. Average daily revenue rose $902 to $33,555, while average daily margin increased $607 to $13,784. Rodriguez said leading-edge daily revenue had moved into the low-to-mid-$30,000 range, and the company expects pricing to reach or exceed the mid-$30,000 range through the remainder of 2026 and into 2027. The company expects an average Lower 48 working rig count of approximately 73 in the third quarter and 74 rigs operating at quarter-end, with daily adjusted gross margin remaining near $13,800. Petrello said the industry’s higher-specification rig utilization is increasing, which could support pricing gains. He added that Nabors expects some existing rigs to be upgraded as larger operators seek equipment suited to longer laterals. However, he declined to provide a forecast for 2027 market rig counts. By quarter-end, nearly 70% of Nabors’ working Lower 48 fleet served publicly traded operators, and more than 45% of its rigs had at least six months of remaining contract duration. The company expects that latter figure to reach about 50% in the third quarter. Nabors’ Drilling Solutions business generated $111 million of revenue, up 4.2% sequentially, and EBITDA of $40 million, up 3.5%. The segment’s EBITDA margin was 36.2%. Revenue from Drilling Solutions on Nabors-operated Lower 48 rigs increased 11% sequentially, while revenue on third-party rigs increased 12%, despite only a 1% increase in third-party average rig count. Rodriguez attributed the growth to higher technology penetration, including managed pressure drilling and RigCLOUD offerings. The company expects Drilling Solutions EBITDA to rise about 5% sequentially to approximately $42 million in the third quarter. Rodriguez said the business converted roughly 90% of EBITDA into free cash flow during the second quarter. Nabors also highlighted several technology developments, including the commercial introduction of Canrig’s automated Titan rig floor wrench and a competitive win for its ROCKit drill-string oscillation software on multiple third-party rigs. The company commissioned two PACE-X Ultra rigs for Caturus in Texas, each equipped with the full Nabors technology suite. Petrello said daily revenue for those rigs, including technology offerings, “meaningfully exceeds $40,000 per rig.” Second-quarter capital expenditures totaled $158 million, including $46 million related to SANAD’s in-kingdom new-build program. Nabors expects third-quarter capital expenditures of $245 million to $255 million, including about $130 million for SANAD new builds. For the full year, Nabors reduced its capital expenditure outlook to $710 million to $730 million, including $325 million to $335 million for the SANAD program, reflecting the movement of some construction milestones into early 2027. Nabors generated $12 million of adjusted free cash flow in the second quarter. SANAD produced $38 million of positive free cash flow, while operations outside SANAD used about $26 million, which Rodriguez attributed partly to slower collections in Mexico and the United States. The company expects consolidated adjusted free cash flow usage of roughly $40 million in the third quarter, including approximately $65 million of SANAD cash consumption. Rodriguez said Nabors remains committed to reducing gross debt by at least $100 million during 2026 and continues to target net leverage of approximately one turn over the long term. Nabors Industries Ltd. is a global oil and gas drilling contractor that provides land and offshore drilling rigs, drilling equipment and related services to energy companies around the world. The company's operations span two core segments: drilling and evaluation, which includes land‐based and platform drilling rigs as well as wellbore survey services, and wellbore technologies, offering pressure control equipment, downhole tools and specialized maintenance services. Nabors' integrated model combines rig operations with engineered products and field support, positioning it as a full‐service provider in the upstream sector. The company maintains a diverse, modern fleet of automated and conventional drilling rigs and has pioneered advanced drilling technologies, including automated drilling controls and managed pressure drilling systems. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Nabors Industries Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. Nabors Industries stock has delivered a 126.1% return over the past year, yet the current market multiples screen it as overvalued even while the broader valuation checks lean supportive rather than stretched. That mix sets up an active debate about how much of the recent share price strength is already factoring in the company’s prospects. Over the past year, Nabors Industries has returned 126.1%, which puts recent weakness into context and raises the bar for further gains to be justified by fundamentals. Future cash generation from Nabors Industries’ drilling and services operations can support the current share price, although the capital intensity and cyclicality of energy activity may limit how much investors are willing to pay for those earnings. Nabors Industries scores highly on valuation checks, with 5 out of 6 metrics pointing to a share price that looks cheaper than many of its fundamentals might suggest. The stock’s next move may depend on whether Nabors Industries’ strong value score or its rich market multiples end up being the more reliable guide to where the share price should sit. Nabors Industries delivered 126.1% returns over the last year. See how this stacks up to the rest of the Energy Services industry. The P/E ratio is a useful way to judge what investors are willing to pay today for each dollar of Nabors Industries earnings. On this metric, Nabors Industries trades at about 5.6x earnings, which is far below the Energy Services industry average of roughly 25.3x and well under the broader peer group average of about 52.0x. However, a fair P/E ratio for the stock, based on its specific risk profile and fundamentals, is estimated at around 1.4x. The gap between this fair ratio and the current 5.6x suggests that the model is heavily penalising the business, so the output is better read as a strong caution signal than a precise target. Even allowing for that, the message is clear: the current P/E implies that investors are paying a rich price for the earnings Nabors Industries is generating today. On the P/E multiple alone, Nabors Industries screens as overvalued relative to what this framework suggests investors might usually pay for its earnings profile. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives for Nabors Industries pick up where this valuation puzzle leaves off. They spell out which combinations of Nabors Industries' future growth, margins and earnings would need to play out for the stock to be worth meaningfully more or less than it is today, and each one treats fair value as a thesis about the business that you can watch over time, rather than a single static estimate. These Narratives sit on Simply Wall St's Community page. One of the top community narratives on Nabors Industries: roughly fairly valued Read one of the top narratives on Nabors Industries Do you think there's more to the story for Nabors Industries? Head over to our Community to see what others are saying! Nabors Industries screens as overvalued on current market multiples, even though the broader valuation checks come through as strong. That split reflects how heavily the tailored P/E framework is penalising the business relative to peers. For you as an investor, the key question is whether Nabors Industries can sustain earnings that justify paying up on this multiple, or whether the market eventually prices the stock closer to a level that aligns with its risk profile and capital intensity. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NBR. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

HAMILTON, Bermuda, July 28, 2026 /PRNewswire/ -- Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) today reported second quarter 2026 operating revenues of $815 million, an increase of approximately 4% from the first quarter. Net loss attributable to Nabors' shareholders for the quarter was $22 million. Adjusted EBITDA for the second quarter was $222 million. Nabors' second quarter results reflected continued momentum across the international drilling franchise, strengthening Lower 48 activity, and higher free cash flow, supported by disciplined capital allocation and expanding technology adoption. The quarter ended June 30, 2025 includes revenue of $63 million, EBITDA of $37 million, and operating income of $26 million from Quail Tools, which was sold in August 2025. 2Q 2026 Highlights The SANAD land drilling joint venture deployed one newbuild rig in the Kingdom of Saudi Arabia, bringing total newbuild deployments to 16. Three more are scheduled for 2026. In addition, SANAD reactivated another previously suspended rig. Nabors added five rigs in the Lower 48 during the second quarter. One of these is drilling Quaise Energy's Project Obsidian, the first commercial superhot geothermal development. The Company's working rig count in this market currently stands at 73, bringing the increase to 15 rigs since November 2025. Two of the additional rigs in the Lower 48 were Nabors PACE-X Ultra® rigs. The PACE-X Ultra® combines upgraded drilling capabilities, integrated automation and managed pressure drilling to enable operators to drill increasingly complex wells. Canrig deployed the first Canrig TITAN™ ("Titan") fully-automated rig floor wrench, with field results exceeding high performance targets. Titan is designed to deliver greater accuracy, faster speed, and lower cost of ownership than competing units. Anthony G. Petrello, Nabors Chairman, CEO and President, commented, "Second quarter results reflected another quarter of solid operational and financial progress. All our operating segments exceeded the targets we set. "In the Lower 48 market, Nabors' average rig count grew and we exceeded the expected exit rate. At the same time, daily gross margin outperformed our guidance. We also gained market share and extended the duration of our contract backlog. Our strategy continues to align us with customers that prioritize high-specification rigs, integrated technology and consistent operating execution in increasingly complex drilling environments. "In our International Drilling segment, we maintained reliable operations across the Gulf markets in the Middle East. In Saudi Arabia our SANAD joint venture added two rigs, including a previously suspended rig that returned to service. Daily gross margin improved through greater operating efficiency in several geographies and additional SANAD deployments. "Drilling Solutions' Lower 48 business delivered double-digit sequential revenue growth in the second quarter, with contributions on Nabors rigs as well as third-party rigs. Performance Software, RigCLOUD®, and Managed Pressure Drilling led this growth." Segment Results International Drilling adjusted EBITDA was $131 million in the second quarter, compared to $121 million in the first quarter. Daily adjusted gross margin for the second quarter increased by more than $650 from the first quarter, to $17,534. This increase reflects stronger execution, and contributions from SANAD newbuild deployments. The U.S. Drilling segment reported second quarter adjusted EBITDA of $94 million, compared to $88 million in the previous quarter. Lower 48 results improved as daily margin expanded 5% and the working fleet grew 4%. As expected, results from Offshore and Alaska operations declined sequentially. Drilling Solutions adjusted EBITDA was $40 million, compared to $39 million in the first quarter. Growth in the Lower 48 market was partially offset by slightly lower international activity, mainly attributable to Surface & Tubular. Rig Technologies adjusted EBITDA increased to $3 million, compared to $1 million in the previous quarter. Aftermarket revenue accelerated sequentially, reflecting higher customer activity. Capital Equipment revenue also improved as deliveries increased. Adjusted Free Cash Flow Consolidated adjusted free cash flow was $12 million in the second quarter. Adjusted free cash flow improved $60 million sequentially, reflecting higher profitability, lower cash interest payments, and seasonal working-capital movements. Miguel Rodriguez, Nabors CFO, stated, "In the second quarter we delivered free cash flow slightly higher than our expectations. Capital spending for SANAD's newbuild program was lower than forecast, as the timing of a few construction milestones was delayed. Outside SANAD, working capital consumed more cash than expected, impacting free cash flow. "Our full-year outlook for rig count in the Lower 48 has once again increased. We now expect to exit the third quarter with approximately 74 rigs running and to expand slightly from that level through the remainder of the year. Our revised full-year consolidated capital spending now totals $710 to $730 million, a $25 million reduction at the midpoint of our previous range. For the SANAD newbuild program, capital spending is expected to be in the range of $325 to $335 million. Previously the range was $360 to $380 million. "We now expect full-year adjusted EBITDA of $920 to $930 million and full-year adjusted free cash flow of $20 to $30 million. This outlook includes expected free cash flow consumption at SANAD of $60 to $80 million. Our priority remains reducing debt and further strengthening the balance sheet while supporting profitable growth, which we believe positions Nabors to enhance long-term shareholder value." Outlook Nabors expects the following metrics for the third quarter of 2026: U.S. Drilling Lower 48 average rig count of 73 rigs Lower 48 daily adjusted gross margin of approximately $13,800 Alaska and Gulf of America combined adjusted EBITDA of approximately $11 million International Average rig count of 94 - 96 rigs Daily adjusted gross margin of $18,100 - $18,400 Drilling Solutions Adjusted EBITDA of approximately $42 million Rig Technologies Adjusted EBITDA of $5 - $6 million Capital Expenditures Capital expenditures of $245 - $255 million, including approximately $130 million for SANAD newbuilds in Saudi Arabia Adjusted Free Cash Flow Adjusted free cash flow consumption of approximately $40 million, including free cash consumption at SANAD of approximately $65 million Mr. Petrello concluded, "Our performance through the first half of the year has exceeded our expectations. As we look forward, we anticipate second-half adjusted EBITDA to reach an annualized run-rate of $1 billion. Contracted rig additions across our drilling businesses provide strong visibility into that outlook. At the same time, prudent capital allocation should support free cash flow expansion and further strengthening of the balance sheet." About Nabors Industries Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With operations in approximately 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com. Forward-looking Statements The information included in this press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to a number of risks and uncertainties, as disclosed by Nabors from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, Nabors' actual results may differ materially from those indicated or implied by such forward-looking statements. The forward-looking statements contained in this press release reflect management's estimates and beliefs as of the date of this press release. Nabors does not undertake to update these forward-looking statements. Non-GAAP Disclaimer This press release presents certain "non-GAAP" financial measures. The components of these non-GAAP measures are computed by using amounts that are determined in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Adjusted operating income (loss) represents income (loss) before income taxes, interest expense, investment income (loss), gain on bargain purchase, and other, net. Adjusted EBITDA is computed similarly, but also excludes depreciation and amortization expenses. Adjusted gross margin represents adjusted operating income (loss) plus general and administrative costs, research and engineering costs and depreciation and amortization. In addition, adjusted EBITDA and adjusted operating income (loss) exclude certain cash expenses that the Company is obligated to make. Net debt is calculated as total debt minus the sum of cash, cash equivalents and short-term investments. Adjusted free cash flow represents net cash provided by operating activities less cash used for capital expenditures, net of proceeds from sales of assets, and before cash paid for acquisition-related costs. Management believes that adjusted free cash flow is an important liquidity measure for the Company and that it is useful to investors and management as a measure of the Company's ability to generate cash flow, after reinvesting in the Company for future growth, that could be available for paying down debt or other financing cash flows, such as dividends to shareholders. Adjusted free cash flow does not represent the residual cash flow available for discretionary expenditures. Adjusted free cash flow is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior to, cash flow from operations reported in accordance with GAAP. Each of these non-GAAP measures has limitations and therefore should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including Adjusted EBITDA, adjusted operating income (loss), net debt, and adjusted free cash flow, because it believes that these financial measures accurately reflect the Company's ongoing profitability, performance and liquidity. Securities analysts and investors also use these measures as some of the metrics on which they analyze the Company's performance. Other companies in this industry may compute these measures differently. Reconciliations of consolidated adjusted EBITDA and adjusted operating income (loss) to income (loss) before income taxes, net debt to total debt, and adjusted free cash flow to net cash provided by operations, which are their nearest comparable GAAP financial measures, are included in the tables at the end of this press release. We do not provide a forward-looking reconciliation of our outlook for Segment Adjusted EBITDA, Segment Gross Margin or Adjusted Free Cash Flow, as the amount and significance of items required to develop meaningful comparable GAAP financial measures cannot be estimated at this time without unreasonable efforts. These special items could be meaningful. Investor Contacts: William C. Conroy, CFA, Vice President of Corporate Development & Investor Relations, +1 281-775-2423 or via email [email protected], or Kara Peak, Director of Corporate Development & Investor Relations, +1 281-775-4954 or via email [email protected]. To request investor materials, contact Nabors' corporate headquarters in Hamilton, Bermuda at +441-292-1510 or via email [email protected] (20,807)(28,705)(19,428)(40,235)(52,896)Less: accrued distribution on redeemable noncontrolling interest in subsidiary(6,757)(7,264)(6,683)(13,440)(14,448)Numerator for basic earnings per share:Adjusted income (loss), net of tax - basic$(29,087)$(38,174)$(21,849)$(50,936)$(12,370)Weighted-average number of shares outstanding - basic14,27314,08314,21314,24312,271Earnings (losses) per share:Total Basic$(2.04)$(2.71)$(1.54)$(3.58)$(1.01)DILUTED EPS:Adjusted income (loss), net of tax - diluted$(29,087)$(38,174)$(21,849)$(50,936)$(12,370)Weighted-average number of shares outstanding - diluted 14,27314,08314,21314,24312,271Earnings (losses) per share:Total Diluted$(2.04)$(2.71)$(1.54)$(3.58)$(1.01) View original content:https://www.prnewswire.com/news-releases/momentum-accelerates-cash-flow-improves-nabors-2q-2026-results-302836940.html

Nabors Industries Ltd. NBR is set to report second-quarter 2026 earnings on July 28, after the closing bell. The Zacks Consensus Estimate for the top line is pegged at $811.8 million and the same for the bottom line is pinned at a loss of $1.54 per share. Let us delve into the factors that might have influenced NBR’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter. In the last reported quarter, the Hamilton-based oil and gas drilling service company’s adjusted loss was $1.54 per share, narrower than the Zacks Consensus Estimate of a loss of $2.39. This was mainly backed by higher adjusted operating income from its International Drilling segment. Operating revenues of $783.5 million beat the Zacks Consensus Estimate of $779 million, driven by higher contributions from the U.S. Drilling, International Drilling and Drilling Solutions segments. As for its surprise track record, NBR’s earnings missed the Zacks Consensus Estimate in two of the trailing four quarters and beat the mark twice, delivering an average surprise of 13.6%. This is depicted in the graph below: Nabors Industries Ltd. price-eps-surprise | Nabors Industries Ltd. Quote The Zacks Consensus Estimate for second-quarter 2026 earnings has been revised 1.9% downward in the past 30 days. The estimated figure indicates a 43.2% year-over-year bottom-line increase. The Zacks Consensus Estimate for revenues indicates a decrease of 2.5% from the year-ago period’s level. NBR earns revenues by providing critical services to the oil and gas sector. The demand for these services — and thus their revenues — depends on factors such as commodity prices, exploration and production activity, competition and overall economic conditions. The company’s revenues are likely to have decreased in the quarter to be reported. The Zacks Consensus Estimate for second-quarter revenues is lower than the year-ago figure of $832.8 million, caused by lower contribution from NBR’s Drilling Solutions segment. Based on our model, revenues from the Drilling Solutions segment are projected to decrease 35.3% year over year. Nabors Industries' second-quarter results could remain under pressure as persistent Middle East conflict-related inefficiencies are expected to reduce EBITDA due to logistics disruptions, supply-chain bottlenecks and higher crew rotation costs. Management also highlighted a still-cautious U.S. drilling environment, while offshore maintenance, contract roll-offs and elevated capital spending could further weigh on margins and cash flow. On a bullish note, lower year-over-year total costs are likely to have improved NBR’s bottom-line performance. We expect the company’s total costs and other deductions to reach $806.4 million in the second quarter, which is down from the year-ago quarter’s level of $818 million. According to our model, General and Administrative, Depreciation and Amortization and Interest Expenses are expected to decrease 8.7%, 7.8% and 9.6% year over year, respectively. The proven Zacks model does not conclusively predict an earnings beat for Nabors Industries this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. However, that is not the case here. Earnings ESP of NBR: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company, is -1.95%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. NBR’s Zacks Rank: NBR currently carries a Zacks Rank #2. Here are some firms from the energy space that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle. ProPetro Holding Corp. PUMP has an Earnings ESP of +52.38% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here. ProPetro is scheduled to release earnings on July 29. The Zacks Consensus Estimate for current quarter earnings indicates year-over-year growth of about 85.7%. Valued at around $1.6 billion, PUMP’s shares have surged 122.4% in a year. Cactus, Inc. WHD has an Earnings ESP of +7.04% and a Zacks Rank #2 at present. It is scheduled to release earnings on July 29. The Zacks Consensus Estimate for WHD’s 2026 earnings indicates year-over-year growth of about 8.6%. Valued at around $4.4 billion, WHD’s shares rose 21% in a year. Oil States International, Inc. OIS currently has an Earnings ESP of +27.27% and a Zacks Rank #3. It is scheduled to release earnings on July 30. Notably, the Zacks Consensus Estimate for OIS’ 2026 earnings indicates year-over-year growth of about 43.2%. Valued at around $517.1 million, OIS’ shares have gained 55.3% in a year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nabors Industries Ltd. (NBR) : Free Stock Analysis Report Oil States International, Inc. (OIS) : Free Stock Analysis Report ProPetro Holding Corp. (PUMP) : Free Stock Analysis Report Cactus, Inc. (WHD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The market expects Nabors Industries (NBR) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 28. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This drilling contractor is expected to post quarterly loss of $1.54 per share in its upcoming report, which represents a year-over-year change of +43.2%. Revenues are expected to be $811.82 million, down 2.5% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 70.18% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Nabors, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -1.95%. On the other hand, the stock currently carries a Zacks Rank of #2. So, this combination makes it difficult to conclusively predict that Nabors will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Nabors would post a loss of$2.39 per share when it actually produced a loss of -$1.54, delivering a surprise of +35.56%. Over the last four quarters, the company has beaten consensus EPS estimates two times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Nabors doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nabors Industries Ltd. (NBR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research