NBR

A month has gone by since the last earnings report for Nabors Industries (NBR). Shares have lost about 6.3% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Nabors due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Nabors Industries reported a first-quarter 2026 adjusted loss of $1.54 per share, narrower than the Zacks Consensus Estimate of a loss of $2.39. Additionally, the metric is significantly above the prior-year quarter’s reported loss of $7.5 per share. This outperformance was mainly driven by higher adjusted operating income from its International Drilling segment. The oil and gas drilling company’s operating revenues of $783.5 million beat the Zacks Consensus Estimate of $779 million. The top line also increased from the year-ago quarter’s $736.2 million, primarily supported by higher contributions from the U.S. Drilling, International Drilling and Drilling Solutions segments. Adjusted EBITDA totaled $204.8 million, down from $206.3 million in the prior-year quarter and $221.6 million in the fourth quarter of 2025. The metric was also below our model estimate of $227.8 million. U.S. Drilling generated operating revenues of $241.1 million, up from the year-ago quarter’s $230.7 million and slightly higher than the prior quarter’s $240.6 million. However, the figure missed our model estimate of $252.1 million. Operating profit totaled $24.6 million compared with $31.6 million in the year-ago quarter. The figure missed our estimated profit of $33.9 million. Adjusted EBITDA from the segment totaled $88.1 million, down from $92.7 million a year ago and $93.2 million in the previous quarter. The figure missed our estimated profit of $105.1 million. Lower 48 average rig count increased to 65.3 rigs from 60.6 rigs in the prior-year quarter and 59.8 rigs in the fourth quarter of 2025. The company noted that it added four rigs in the Lower 48 market during the first quarter, bringing the current working rig count in the region to 66, up eight rigs since November 2025. International Drilling reported operating revenues of $419.5 million, up from $381.7 million in the year-ago quarter but down from $423.8 million in th...

Unsurprisingly, Nabors Industries Ltd.'s (NYSE:NBR) stock price was strong on the back of its healthy earnings report. We did some analysis and think that investors are missing some details hidden beneath the profit numbers. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Importantly, our data indicates that Nabors Industries' profit received a boost of US$420m in unusual items, over the last year. While we like to see profit increases, we tend to be a little more cautious when unusual items have made a big contribution. When we crunched the numbers on thousands of publicly listed companies, we found that a boost from unusual items in a given year is often not repeated the next year. Which is hardly surprising, given the name. Nabors Industries had a rather significant contribution from unusual items relative to its profit to March 2026. All else being equal, this would likely have the effect of making the statutory profit a poor guide to underlying earnings power. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. As we discussed above, we think the significant positive unusual item makes Nabors Industries' earnings a poor guide to its underlying profitability. For this reason, we think that Nabors Industries' statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. The good news is that it earned a profit in the last twelve months, despite its previous loss. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. To help with this, we've discovered 3 warning signs (2 don't sit too well with us!) that you ought to be aware of before buying any shares in Nabors Industries. This note has only looked at a single factor that sheds light on the nature of Nabors Industries' profit. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable busin...

Diamondback Energy, Inc. FANG reported first-quarter 2026 adjusted earnings per share (EPS) of $4.23, which beat the Zacks Consensus Estimate of $3.55, driven by strong production. However, the company’s bottom line declined from the year-ago adjusted profit of $4.54. The underperformance was due to a 91.5% drop in the year-over-year realized natural gas prices. This Midland, TX-based oil and gas exploration and production company’s revenues of $4.2 billion increased 4.7% from the year-ago quarter and topped the Zacks Consensus Estimate by 10.6%, fueled primarily by higher sales of oil, natural gas and natural gas liquids, increased sales of purchased oil and higher revenues from other operating income. Diamondback Energy, Inc. price-consensus-eps-surprise-chart | Diamondback Energy, Inc. Quote In the first quarter of 2026, Diamondback Energy generated free cash flow of about $1.7 billion, while adjusted free cash flow stood at $1.74 billion. Over the same period, it bought back nearly 3.3 million common shares for roughly $548 million at an average price of $167.61 per share, excluding excise taxes. This included a $509 million transaction to repurchase 3 million shares from SGF FANG Holdings, LP. Overall, shareholder returns totaled approximately $859 million through a combination of share repurchases and the declared base dividend for the quarter, accounting for 50% of adjusted free cash flow. FANG’s board of directors approved a 5% increase to the company's base quarterly dividend, raising it to $1.10 per common share for the first quarter of 2026, payable on May 21, 2026, to stockholders of record on May 14. FANG’s production of oil and natural gas averaged 979,356 barrels of oil equivalent per day (BOE/d), comprising 53.2% oil. The figure was up 15.1% from the year-ago quarter and beat our estimate of 951,053.3 BOE/d. While crude and natural gas output increased 9.5% and 17.7% year over year, respectively, natural gas liquids volumes climbed 26.9%. The average realized oil price during the quarter was $73.47 per barrel, 3.5% higher than the year-ago realization of $70.95. The figure also beat our estimate of $51.71 per barrel. Meanwhile, the average realized natural gas price decreased to 18 cents per thousand cubic feet from $2.11 in the prior year. The figure was also below our estimate of $1.71. Overall, the upstream oil and gas company fetched $43....

Northern Oil and Gas, Inc. NOG reported first-quarter 2026 adjusted earnings per share of 74 cents, which beat the Zacks Consensus Estimate of 71 cents. The outperformance reflects strong production. However, the bottom line declined from the year-ago adjusted profit of $1.33 due to weaker natural gas prices and a 77% increase in operating expenses. The Minnetonka, MN-based oil and gas exploration and production company reported oil and gas sales of $539.9 million, beating the Zacks Consensus Estimate of $511 million, supported by higher crude oil realizations. However, the top line decreased from the year-ago figure of $576.9 million. The year-over-year decline was mainly due to lower oil and gas sales during this quarter. Northern Oil and Gas, Inc. price-consensus-eps-surprise-chart | Northern Oil and Gas, Inc. Quote In February, NOG closed the joint Ohio Utica acquisition of upstream and midstream assets with an adjusted ownership split of 40% for $464.6 million, including the previously paid $58.8 million deposit. In March, NOG completed a common stock offering of 8.3 million shares of common stock, generating net proceeds of $227.9 million. Funds raised in the offering were applied to the outstanding borrowings on the company’s revolving credit facility. The first-quarter production increased 10% year over year to 148,303 barrels of oil equivalent per day (Boe/d). Additionally, the figure beat our estimate of 141,049 Boe/d. While oil volume totaled 73,567 Bod (a 6% decrease year over year), natural gas (and natural gas liquids) amounted to 448,444 thousand cubic feet per day (a 33% increase). Our model estimate for oil volume and natural gas production was pegged at 70,000 Bod and 411,400 thousand cubic feet per day, respectively. The average sales price for crude was $66.32 per barrel, indicating a 2% increase from the prior-year quarter’s level of $64.92. Moreover, the figure beat our expectation of $52.51 per barrel. The average realized natural gas price was $2.50 per thousand cubic feet compared with $3.86 in the year-earlier period. Our model estimate for the same was pinned at $4.58 per thousand cubic feet. Total operating expenses in the quarter rose to $660 million from $372.8 million in the year-ago period. This was mainly on account of a surge in production expenses, general and administrative expenses, impairment of oil and gas assets, and o...

Imperial Oil Limited IMO reported first-quarter 2026 adjusted earnings per share of $1.41, which missed the Zacks Consensus Estimate of $1.67 and decreased from the year-ago quarter’s $1.75 due to lower net income in the upstream segment and a lower average realized price for synthetic crude. Revenues of $9.1 billion missed the Zacks Consensus Estimate of $9.8 billion due to weak performance in both the Upstream and Downstream segments. However, the top line increased from the year-ago quarter’s level of $8.7 billion. Imperial Oil Limited price-consensus-eps-surprise-chart | Imperial Oil Limited Quote During the quarter, Imperial Oil returned C$350 million to its shareholders through dividend payments. On May 1, 2026, the Calgary-based integrated oil and gas company declared a quarterly dividend of 87 Canadian cents per share on its outstanding common shares, payable on July 1, 2026, to its shareholders of record as of June 4. Upstream: Revenues of C$4 billion decreased from the prior-year level of C$4.5 billion. The segment reported a net income of C$470 million compared with C$731 million in the year-ago quarter. The company recorded average upstream production of 419,000 gross oil-equivalent barrels per day (boe/d) in the first quarter, which increased from the prior-year level of 418,000 boe/d. However, the figure missed our expectation of 436,000 boe/d. IMO recorded total gross bitumen production at Kearl averaged 259,000 barrels per day (183,000 barrels Imperial Oil's share), up from 256,000 barrels per day (181,000 barrels Imperial Oil's share) in the first quarter of 2025. The company also posted gross bitumen production at Cold Lake, averaging 155,000 barrels per day (bpd), which was an increase from 154,000 bpd in the first quarter of 2025. IMO’s share of gross production from Syncrude averaged 72,000 bpd, down from 73,000 bpd in the first quarter of 2025. Lower volumes at Syncrude were caused by unplanned coker downtime. Bitumen price realizations totaled C$68.21 per barrel compared with C$75.31 in the year-ago period. IMO received an average realized price of C$96.13 per barrel for synthetic oil compared with the prior-year quarter’s C$98.79. For conventional crude oil, it received C$52.44 per barrel compared with C$48.70 in the corresponding period of 2025. Downstream: Revenues of C$13.9 billion decreased from the prior-year level of C$14 billio...

Expand Energy Corporation EXE reported first-quarter 2026 adjusted earnings per share of $3.83, beating the Zacks Consensus Estimate of $3.69. The company’s bottom line increased from the year-ago adjusted profit of $2.02, fueled by strong production and higher natural gas price realization. Expand Energy’s ‘natural gas, oil and NGL’ revenues of $3.3 billion surpassed the Zacks Consensus Estimate of $3.1 billion. The top line was also higher than the year-ago figure of $2.3 billion. Expand Energy Corporation price-consensus-eps-surprise-chart | Expand Energy Corporation Quote During the first quarter of 2026, Expand Energy signed a 20-year Sales and Purchase Agreement (SPA) with Delfin FLNG Vessel 1 for about 1.15 million tons of LNG offtake per year, extending the company’s market reach to growing global demand centers. The company reported the average first-quarter daily production (comprising 93% natural gas) of 7,436 million cubic feet of gas equivalent (MMcfe/day), increasing 9.5% from the year-ago level of 6,788 MMcfe/day. The daily production levels surpassed the Zacks Consensus Estimate of 7,431 MMcfe/day. Natural gas volume for the period came in at 6,914 MMcfe/day, up 10.6% year over year. The consensus mark called for 6,864 MMcf/day of natural gas. EXE’s oil production was 15 thousand barrels per day (MBbl/d), while NGL output totaled 72 MBbl/d. The average sales price for natural gas during the first quarter was $4.92 per Mcf, up 37.4% from the prior-year realization of $3.58 per Mcf, and it was also above the consensus mark of $4.75. The average realized oil price was $64.37 per barrel compared with the consensus mark of $62. Meanwhile, the average realized NGL price was $25.49 per barrel, above the Zacks Consensus Estimate of$25.36. Total operating expenses in the quarter rose to $2.9 billion from the year-ago quarter’s $2.5 billion. This was mainly due to an increase in gathering, processing and transportation, exploration and marketing expenses. The company’s gathering, processing and transportation, exploration and marketing costs of $690 million, $14 million and $1.1 billion during the first quarter of 2026 rose from the year-ago levels of $563 million, $7 million and $919 million, respectively. In the first quarter, the company plans to pay its quarterly base dividend of 57.5 cents per share on June 04, 2026, to its shareholders of record...

Nabors Industries recently reported higher operating revenues and broader rig deployment in the U.S. and internationally, while posting a net loss of US$15.2 million due to the absence of a prior one-time bargain purchase gain. At the same time, the company has been cutting debt by redeeming US$379.1 million of senior notes and benefiting from upward earnings estimate revisions, which together point to improving balance sheet strength and a more constructive outlook among some analysts. Next, we’ll examine how Nabors’ debt reduction push and improving earnings estimates could influence its existing investment narrative and risk profile. Uncover the next big thing with 24 elite penny stocks that balance risk and reward. To own Nabors Industries today, you have to believe that stronger global drilling demand and its higher-spec fleet can offset segment headwinds and a still‑heavy balance sheet. The recent quarter’s higher operating revenues and broader rig deployment support that view, while the net loss tied to last year’s one‑off gain does not materially change the key near term catalyst of improving earnings quality or the main risk around leverage and activity-sensitive margins. The company’s redemption of US$379.1 million in 7.50% senior notes, pushing its next major maturity to 2029, looks most relevant here. It directly addresses the high‑debt risk in the story, reduces interest expense, and gives Nabors more breathing room if U.S. or international drilling softens, which matters for how investors assess both the recent earnings volatility and the durability of any recovery in rig margins. Yet beneath this improving balance sheet, investors should still be aware of the risk that weakening U.S. rig margins and high capital needs could... Read the full narrative on Nabors Industries (it's free!) Nabors Industries' narrative projects $3.5 billion revenue and $243.3 million earnings by 2028. This requires 4.5% yearly revenue growth and a $380.3 million earnings increase from $-137.0 million today. Uncover how Nabors Industries' forecasts yield a $71.25 fair value, a 29% downside to its current price. Some of the most optimistic analysts once penciled in about US$3.7 billion of revenue and US$264.5 million of earnings by 2029, which is far more upbeat than the consensus view and could look different after this latest earnings miss and debt progress, so it is...

Middle East conflict has created logistics and crew-rotation inefficiencies but Nabors says it maintained pre-conflict operating tempo; the company quantified a ~$3.5 million EBITDA hit in Q1 and is modeling a $6–8 million impact for Q2, mainly in International Drilling. Q1 consolidated revenue of $784 million and adjusted EBITDA of $205 million, while Nabors added Lower‑48 rigs (66 at quarter-end) and outperformed the broader U.S. market; management expects U.S. rig pricing to trend from the low‑$30Ks to the mid‑$30Ks through 2026–27. Debt reduction remains the company's top priority: Nabors redeemed $379 million of 2028 notes, targets ~1x net debt leverage before returning capital to shareholders, guided full‑year capex of $730–760 million (with SANAD spending significant), and expects free‑cash‑flow to improve after a $48 million adjusted FCF outflow in Q1. Interested in Nabors Industries Ltd.? Here are five stocks we like better. 3 Bargain-Cheap Small Caps Worth a Second Look Nabors Industries (NYSE:NBR) reported first-quarter 2026 results that management said were largely in line with prior expectations, despite operational inefficiencies stemming from the ongoing Middle East conflict. On the company’s earnings call, Chairman, President and CEO Tony Petrello and CFO Miguel Rodriguez emphasized continued operating continuity across Nabors’ regional footprint, rising Lower 48 activity for the company despite a broadly flat U.S. market, and ongoing debt reduction efforts. Petrello opened by detailing Nabors’ exposure in the Gulf region, including 53 rigs in Saudi Arabia operating under the SANAD Land Drilling joint venture, four rigs in Oman, and three rigs in Kuwait, along with casing running operations in Saudi Arabia and Abu Dhabi and Canrig facilities in Saudi Arabia and Dubai. He said Nabors has maintained its “pre-conflict operating tempo” and that clients have not communicated “any material change to their forward plans.” → Meta Posted Its Best Sales Growth Since 2021—So Why Did Shares Fall? Helmerich & Payne Stock, A Lot More Upside Than Meets the Eye Rodriguez said the conflict introduced inefficiencies during the quarter, “primarily affecting logistics, supply chain, and crew rotations.” He quantified the first-quarter impact as approximately $3.5 million of adverse EBITDA effect across the International Drilling and Rig Technology segments. Look...

Nabors Industries Ltd. NBR reported a first-quarter 2026 adjusted loss of $1.54 per share, narrower than the Zacks Consensus Estimate of a loss of $2.39. Additionally, the metric is significantly above the prior-year quarter’s reported loss of $7.5 per share. This outperformance was mainly driven by higher adjusted operating income from its International Drilling segment. The oil and gas drilling company’s operating revenues of $783.5 million beat the Zacks Consensus Estimate of $779 million. The top line also increased from the year-ago quarter’s $736.2 million, primarily supported by higher contributions from the U.S. Drilling, International Drilling and Drilling Solutions segments. Nabors Industries Ltd. price-consensus-eps-surprise-chart | Nabors Industries Ltd. Quote Adjusted EBITDA totaled $204.8 million, down from $206.3 million in the prior-year quarter and $221.6 million in the fourth quarter of 2025. The metric was also below our model estimate of $227.8 million. U.S. Drilling generated operating revenues of $241.1 million, up from the year-ago quarter’s $230.7 million and slightly higher than the prior quarter’s $240.6 million. However, the figure missed our model estimate of $252.1 million. Operating profit totaled $24.6 million compared with $31.6 million in the year-ago quarter. The figure missed our estimated profit of $33.9 million. Adjusted EBITDA from the segment totaled $88.1 million, down from $92.7 million a year ago and $93.2 million in the previous quarter. The figure missed our estimated profit of $105.1 million. Lower 48 average rig count increased to 65.3 rigs from 60.6 rigs in the prior-year quarter and 59.8 rigs in the fourth quarter of 2025. The company noted that it added four rigs in the Lower 48 market during the first quarter, bringing the current working rig count in the region to 66, up eight rigs since November 2025. International Drilling reported operating revenues of $419.5 million, up from $381.7 million in the year-ago quarter but down from $423.8 million in the fourth quarter. Moreover, the figure beat our estimate of $389.4 million. Operating profit totaled $40.8 million compared with $33 million in the year-ago quarter. The figure missed our estimated profit of $43.8 million. The segment’s adjusted EBITDA was $121.3 million, compared with $115.5 million a year ago and $131.3 million in the preceding quarter. The fi...

This article first appeared on GuruFocus. Adjusted EBITDA: $205 million. Consolidated Revenue: $784 million. EBITDA Margin: 26.1%. International Drilling Revenue: $419 million. International Drilling EBITDA: $121 million. Average Daily Gross Margin (International): $16,880. U.S. Drilling Revenue: $241 million. U.S. Drilling EBITDA: $88 million. Average Daily Revenue (Lower 48): $32,650. Average Daily Margin (Lower 48): $13,177. Drilling Solutions Revenue: $106 million. Drilling Solutions EBITDA: $39 million. Rig Technologies Revenue: $27 million. Rig Technologies EBITDA: $0.5 million. Capital Expenditures: $159 million. Consolidated Adjusted Free Cash Flow: Consumed $48 million. Debt Reduction: Redeemed $379 million of senior guaranteed notes maturing in 2028. Warning! GuruFocus has detected 7 Warning Signs with NBR. Is NBR fairly valued? Test your thesis with our free DCF calculator. Release Date: April 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nabors Industries Ltd (NYSE:NBR) maintained operational continuity in the Middle East despite the challenging environment, demonstrating strong management and resilience. The company achieved a significant increase in its U.S. Lower 48 rig count, adding 8 rigs since last year, with plans to reach 69 rigs by the second half of 2026. Nabors' SANAD joint venture in Saudi Arabia is on track for growth, with newbuild deployments proceeding as planned, representing a long-term growth opportunity. The company is focused on deploying advanced technology, such as the PACE-X Ultra rigs, which are equipped with high-performance capabilities and integrated solutions. Nabors Industries Ltd (NYSE:NBR) is committed to debt reduction, having redeemed $379 million of senior guaranteed notes, extending its nearest maturity to June 2029. The Middle East conflict introduced operational inefficiencies, affecting logistics, supply chain, and crew rotations, impacting financial results. Despite higher oil prices, U.S. operators have not broadly adjusted activity levels, limiting immediate market opportunities for Nabors. The company's International Drilling segment experienced a decline in EBITDA due to labor costs in Saudi Arabia and disruptions in Colombia. Nabors' Rig Technologies segment faced a sequential decline in revenue and EBITDA, impacted by parts delivery delay...

HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Nabors Industries Ltd. (NBR) on Tuesday reported a loss of $15.2 million in its first quarter. The Hamilton, Bermuda-based company said it had a loss of $1.54 per share. The drilling contractor posted revenue of $786.4 million in the period. Its adjusted revenue was $783.5 million, beating Street forecasts. Four analysts surveyed by Zacks expected $778.9 million. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NBR at https://www.zacks.com/ap/NBR

Maintained operational continuity in the Middle East despite significant logistical friction, including crew rotation challenges and supply chain rerouting through the Red Sea. Achieved Lower 48 rig count growth of eight units since November 2024, outperforming the broader market decline through strong coordination with public operators. Attributed international growth to a geographically diversified portfolio, which offset the wind-down of operations in several smaller markets and contract non-renewals. Nabors continues to expand its SANAD joint venture in Saudi Arabia, deploying its fifteenth newbuild in the first quarter with plans to reach 19 newbuilds by the end of 2026 to align with regional development plans. Leveraged the PaceX Ultra rig's 10k PSI mud system and integrated automation to capture premium pricing and multi-year term contracts from high-end operators. Maintained pricing integrity in the US by focusing on high-spec assets that meet increasing operator demands for four- and five-mile laterals. Expects Lower 48 rig pricing to trend toward the mid-$30,000 range through 2027 as industry utilization tightens and demand for high-spec upgrades increases. Nabors anticipates exiting 2026 with 101 international rigs, supported by the deployment of four additional SANAD newbuilds in Saudi Arabia, the reactivation of suspended rigs in the kingdom, and an additional rig starting in Argentina later this year. Assumes persistent Middle East logistical inefficiencies will impact Q2 EBITDA by $6 million to $8 million, primarily within the International Drilling segment. Projects potential for significant activity resumption in Venezuela, with discussions underway for commercial terms that protect capital in-country. Targets a long-term net debt leverage ratio of approximately one time, prioritizing gross debt reduction over immediate shareholder returns. Identified a $3.5 million adverse impact in Q1 related to the Middle East conflict, affecting logistics, supply chain, and crew rotation costs. Noted an unplanned transition of two SANAD rigs from oil to gas drilling, which weighed on Q1 margins due to inspection and acceptance procedures. Flagged currency headwinds from a stronger Colombian peso and continued activity disruptions in Colombia as ongoing cost pressures. Elected not to renew three low-margin workover contracts in Saudi Arabia to prioritize...