Nabors Industries (NBR)
Market Price (8/15/2026): $94.18 | Market Cap: $1.3 BilSector: Energy | Industry: Oil & Gas Drilling
Nabors Industries (NBR)
Market Price (8/15/2026): $94.18Market Cap: $1.3 BilSector: EnergyIndustry: Oil & Gas Drilling
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 18%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 14% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22% Megatrend and thematic driversMegatrends include US Energy Independence, and Automation & Robotics. Themes include US Oilfield Technologies, and Drilling Automation. | Weak multi-year price returns2Y Excs Rtn is -31%, 3Y Excs Rtn is -94% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 120% Stock price has recently run up significantly12M Rtn12 month market price return is 181% Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.2% Key risksNBR key risks include [1] a substantial debt position, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 18%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 14% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22% |
| Megatrend and thematic driversMegatrends include US Energy Independence, and Automation & Robotics. Themes include US Oilfield Technologies, and Drilling Automation. |
| Weak multi-year price returns2Y Excs Rtn is -31%, 3Y Excs Rtn is -94% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 120% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 181% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.2% |
| Key risksNBR key risks include [1] a substantial debt position, Show more. |
Qualitative Assessment
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Nabors Industries (NBR) stock has lost about 10% since 4/30/2026 because of the following key factors:
1. Nabors Industries reported a significant earnings per share (EPS) miss in its fiscal Q2 2026 results, despite a modest revenue beat. The company announced a net loss attributable to shareholders of $22.3 million for the quarter ended June 30, 2026, and a reported EPS of -$2.04, which missed the consensus analyst estimate of -$1.30 by $0.74. While operating revenues of $814.8 million were approximately 4% higher than fiscal Q1 2026 and surpassed analyst estimates of $809.28 million, the deeper-than-expected loss likely weighed on investor sentiment.
2. Downward revisions in crude oil and natural gas price forecasts contributed to negative sentiment for the drilling sector. J.P. Morgan Global Research lowered its forecast for Brent crude to average $78 per barrel by year-end 2026, a notable reduction from its previous forecast of $95 per barrel. Similarly, the U.S. Energy Information Administration (EIA) projected the Henry Hub natural gas spot price to average $2.87 per million British thermal units (MMBtu) in fiscal Q3 2026, which is 50 cents lower than the prior month's forecast, driven by record natural gas production and reduced liquefied natural gas (LNG) feedgas demand. These lowered price expectations for key commodities negatively impact the outlook for drilling activity and future profitability.
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Nabors Industries (NBR) stock has lost about 10% since 4/30/2026 because of the following key factors:
1. Nabors Industries reported a significant earnings per share (EPS) miss in its fiscal Q2 2026 results, despite a modest revenue beat. The company announced a net loss attributable to shareholders of $22.3 million for the quarter ended June 30, 2026, and a reported EPS of -$2.04, which missed the consensus analyst estimate of -$1.30 by $0.74. While operating revenues of $814.8 million were approximately 4% higher than fiscal Q1 2026 and surpassed analyst estimates of $809.28 million, the deeper-than-expected loss likely weighed on investor sentiment.
2. Downward revisions in crude oil and natural gas price forecasts contributed to negative sentiment for the drilling sector. J.P. Morgan Global Research lowered its forecast for Brent crude to average $78 per barrel by year-end 2026, a notable reduction from its previous forecast of $95 per barrel. Similarly, the U.S. Energy Information Administration (EIA) projected the Henry Hub natural gas spot price to average $2.87 per million British thermal units (MMBtu) in fiscal Q3 2026, which is 50 cents lower than the prior month's forecast, driven by record natural gas production and reduced liquefied natural gas (LNG) feedgas demand. These lowered price expectations for key commodities negatively impact the outlook for drilling activity and future profitability.
3. Analyst downgrades and concerns about the stock's valuation likely pressured shares. Within the specified period, Zacks Research downgraded Nabors Industries from a "strong-buy" to a "hold" rating on August 15, 2026. Additionally, on August 1, 2026, Wall Street Zen downgraded the stock from "hold" to "sell." These downgrades coincided with market analysis indicating that NBR shares were considered significantly overvalued, trading at $94.17 as of August 14, 2026, which was 80.8% above its GF Value™ estimate of $52.09. The company's trailing twelve-month (TTM) P/E ratio of 7.0x also stood 29% higher than its 5-year median P/E of 5.4x.
4. Broader weakness and volatility in the oilfield services sector, influenced by crude price fluctuations, impacted Nabors Industries. The stock experienced a notable single-day decline of 5.31% to $79.15 on August 5, 2026, a movement attributed to "broader weakness across the oilfield services sector, as crude price volatility continues to influence sentiment toward drilling-related companies." Despite an increase in the U.S. rotary rig count to 593 rigs by August 14, 2026, the highest since March 2025, the overall sector remained sensitive to macroeconomic headwinds and upstream capital expenditure decisions.
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Stock Movement Drivers
Fundamental Drivers
The -8.2% change in NBR stock from 4/30/2026 to 8/14/2026 was primarily driven by a -14.6% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 8142026 | Change |
|---|---|---|---|
| Stock Price ($) | 102.61 | 94.17 | -8.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,185 | 3,214 | 0.9% |
| Net Income Margin (%) | 9.0% | 7.7% | -14.6% |
| P/E Multiple | 5.1 | 5.4 | 7.5% |
| Shares Outstanding (Mil) | 14 | 14 | -1.0% |
| Cumulative Contribution | -8.2% |
Market Drivers
4/30/2026 to 8/14/2026| Return | Correlation | |
|---|---|---|
| NBR | -8.2% | |
| Market (SPY) | 8.0% | -7.6% |
| Sector (XLE) | 3.8% | 77.1% |
Fundamental Drivers
The 40.9% change in NBR stock from 1/31/2026 to 8/14/2026 was primarily driven by a 28.5% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8142026 | Change |
|---|---|---|---|
| Stock Price ($) | 66.84 | 94.17 | 40.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,117 | 3,214 | 3.1% |
| Net Income Margin (%) | 7.1% | 7.7% | 7.6% |
| P/E Multiple | 4.2 | 5.4 | 28.5% |
| Shares Outstanding (Mil) | 14 | 14 | -1.2% |
| Cumulative Contribution | 40.9% |
Market Drivers
1/31/2026 to 8/14/2026| Return | Correlation | |
|---|---|---|
| NBR | 40.9% | |
| Market (SPY) | 12.5% | 2.8% |
| Sector (XLE) | 22.1% | 66.5% |
Fundamental Drivers
The 170.8% change in NBR stock from 7/31/2025 to 8/14/2026 was primarily driven by a 237.1% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8142026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.78 | 94.17 | 170.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,933 | 3,214 | 9.6% |
| P/S Multiple | 0.1 | 0.4 | 237.1% |
| Shares Outstanding (Mil) | 10 | 14 | -26.7% |
| Cumulative Contribution | 170.8% |
Market Drivers
7/31/2025 to 8/14/2026| Return | Correlation | |
|---|---|---|
| NBR | 170.8% | |
| Market (SPY) | 23.9% | 18.3% |
| Sector (XLE) | 45.4% | 59.5% |
Fundamental Drivers
The -23.1% change in NBR stock from 7/31/2023 to 8/14/2026 was primarily driven by a -35.6% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312023 | 8142026 | Change |
|---|---|---|---|
| Stock Price ($) | 122.49 | 94.17 | -23.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,000 | 3,214 | 7.1% |
| P/S Multiple | 0.4 | 0.4 | 11.4% |
| Shares Outstanding (Mil) | 9 | 14 | -35.6% |
| Cumulative Contribution | -23.1% |
Market Drivers
7/31/2023 to 8/14/2026| Return | Correlation | |
|---|---|---|
| NBR | -23.1% | |
| Market (SPY) | 75.6% | 37.4% |
| Sector (XLE) | 54.7% | 70.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NBR Return | 39% | 91% | -47% | -30% | -5% | 68% | 57% |
| Peers Return | 55% | 100% | -17% | -15% | 1% | 51% | 234% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| NBR Win Rate | 50% | 58% | 33% | 42% | 75% | 75% | |
| Peers Win Rate | 59% | 63% | 32% | 43% | 55% | 72% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NBR Max Drawdown | -48% | -53% | -59% | -50% | -64% | -32% | |
| Peers Max Drawdown | -36% | -39% | -38% | -36% | -42% | -29% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HP, PTEN, PDS, VAL, SLB. See NBR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/14/2026 (YTD)
How Low Can It Go
| Event | NBR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -44.5% | -18.8% |
| % Gain to Breakeven | 80.3% | 23.1% |
| Time to Breakeven | 138 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -90.7% | -33.7% |
| % Gain to Breakeven | 980.0% | 50.9% |
| Time to Breakeven | 310 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -47.7% | -12.2% |
| % Gain to Breakeven | 91.3% | 13.9% |
| Time to Breakeven | 93 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -57.4% | -17.9% |
| % Gain to Breakeven | 134.8% | 21.8% |
| Time to Breakeven | 984 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -22.4% | -15.4% |
| % Gain to Breakeven | 28.8% | 18.2% |
| Time to Breakeven | 115 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -70.1% | -53.4% |
| % Gain to Breakeven | 234.2% | 114.4% |
| Time to Breakeven | 728 days | 1085 days |
In The Past
Nabors Industries's stock fell -44.5% during the 2025 US Tariff Shock. Such a loss loss requires a 80.3% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | NBR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -44.5% | -18.8% |
| % Gain to Breakeven | 80.3% | 23.1% |
| Time to Breakeven | 138 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -90.7% | -33.7% |
| % Gain to Breakeven | 980.0% | 50.9% |
| Time to Breakeven | 310 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -47.7% | -12.2% |
| % Gain to Breakeven | 91.3% | 13.9% |
| Time to Breakeven | 93 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -57.4% | -17.9% |
| % Gain to Breakeven | 134.8% | 21.8% |
| Time to Breakeven | 984 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -22.4% | -15.4% |
| % Gain to Breakeven | 28.8% | 18.2% |
| Time to Breakeven | 115 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -70.1% | -53.4% |
| % Gain to Breakeven | 234.2% | 114.4% |
| Time to Breakeven | 728 days | 1085 days |
In The Past
Nabors Industries's stock fell -44.5% during the 2025 US Tariff Shock. Such a loss loss requires a 80.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Nabors Industries (NBR)
Nabors Industries Ltd. (NBR) is a global provider of drilling and drilling-related services, primarily serving the oil and natural gas industry. The company operates a substantial fleet of land-based drilling rigs across the United States, Canada, and 20 other countries worldwide, along with offshore platform drilling operations in the U.S. and internationally. Its core business revolves around enabling the exploration and production of oil and gas wells.
Beyond traditional drilling, Nabors offers a comprehensive range of advanced solutions designed to optimize drilling performance. These include specialized software and technology for wellbore placement, directional drilling, real-time operational insights, and automation, such as its REVit system for stick-slip mitigation and RigCLOUD for integrating applications. The company further differentiates itself by manufacturing and selling key drilling equipment like top drives, robotic systems, and downhole tools, providing both new sales and aftermarket support for its installed base.
Nabors' primary customers are oil and natural gas exploration and production (E&P) companies seeking efficient and technologically advanced drilling services. By combining physical drilling capabilities with innovative drilling technologies and equipment manufacturing, Nabors positions itself as a full-service partner in the global energy sector.
```AI Analysis | Feedback
Here are 1-3 brief analogies to describe Nabors Industries (NBR):
- Caterpillar for oil and gas drilling: Like Caterpillar provides heavy equipment and services for construction and mining, Nabors provides the essential rigs, machinery, and related services to drill for oil and gas.
- Deere & Company for oil and gas drilling: Similar to how Deere provides specialized machinery and increasingly advanced technology for agriculture, Nabors offers high-tech drilling rigs and sophisticated software solutions for the oil and gas industry.
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- Land and Offshore Drilling Services: Provides comprehensive drilling operations for oil and natural gas wells across land and offshore environments.
- Specialized Drilling Services: Offers services including tubular running, wellbore placement, directional drilling, and measurement-while-drilling (MWD).
- Logging-While-Drilling (LWD) Systems and Services: Delivers real-time wellbore logging data and insights during drilling operations.
- REVit System: An automated real-time system designed to mitigate stick-slip during drilling.
- ROCKit System: A directional steering control system for precise wellbore trajectory.
- SmartNAV Platform: A collaborative guidance and advisory platform supporting drilling operations.
- SmartSLIDE System: An advanced directional steering control system for optimized drilling.
- RigCLOUD Platform: Provides tools and infrastructure to integrate applications for real-time operational insight across the rig fleet.
- Drilling Optimization Software: Software solutions aimed at enhancing overall drilling efficiency and performance.
- Drilling Rig Components: Manufactures and sells essential drilling equipment such as top drives, catwalks, wrenches, and drawworks.
- Robotic Systems and Downhole Tools: Produces advanced robotic systems and specialized tools used within the wellbore.
- Equipment Aftermarket Support: Provides sales and services for its installed base of manufactured drilling equipment.
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Major Customers of Nabors Industries (NBR)
Nabors Industries Ltd. primarily sells its drilling and drilling-related services and equipment to other companies in the oil and natural gas sector. Based on the provided background information, its major customers are companies involved in oil and gas exploration and production (E&P).
The specific names of Nabors Industries' major customer companies are not disclosed in the provided background description.
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Anthony G. Petrello, Chairperson, President and Chief Executive Officer
Anthony G. Petrello has served as Chairman of the Board of Nabors Industries Ltd. since June 2012, and as its Chief Executive Officer and President since October 2011. He was first elected to the Nabors Board of Directors in 1991. Before becoming CEO, he served as the company's President and Chief Operating Officer from 1991 to October 2011, and Deputy Chairman since 2003. Prior to joining Nabors in 1991, Mr. Petrello was the Managing Partner of the New York office of the law firm Baker & McKenzie from 1986 to 1991. He holds a J.D. degree from Harvard Law School and B.S. and M.S. degrees in Mathematics from Yale University. Mr. Petrello also serves as a director of Hilcorp Energy Company. He previously served as Chairman, President, CEO & Secretary of Nabors Energy Transition Corp. from 2021 to 2023.
Miguel Rodriguez, Chief Financial Officer
Miguel Rodriguez was appointed Chief Financial Officer of Nabors Industries Ltd. effective October 1, 2025, succeeding William Restrepo. He joined Nabors in February 2019 as Senior Vice President for Operations Finance. Prior to joining Nabors, Mr. Rodriguez spent over 25 years with SLB (formerly Schlumberger) in various senior financial positions requiring strong corporate finance, treasury, tax, and financial management skills, with postings in the United States, Latin America, and Russia. His roles at SLB included senior executive positions in Corporate Treasury, Group Controller for Latin America, and worldwide Controller. Mr. Rodriguez holds a Bachelor's degree in Business Administration and is a CPA, both from Universidad Católica Andrés Bello (UCAB) in Venezuela.
Siggi Meissner, President, Global Drilling and Energy Transition
Siggi Meissner serves as the President of Global Drilling Operations & Engineering at Nabors Industries Ltd. He is also listed as President, Global Drilling and Energy Transition.
Mark Andrews, Vice President and Corporate Secretary
Mark Andrews serves as Vice President and Corporate Secretary of Nabors Industries Ltd. He has also been listed as Vice President and General Manager of Nabors Global Holdings Ltd.
Michael Csizmadia, General Counsel and Chief Compliance Officer
Michael Csizmadia serves as General Counsel and Chief Compliance Officer at Nabors Industries Ltd. He is also a Senior Vice President.
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Nabors Industries Ltd. (NYSE: NBR) faces several key risks to its business, primarily driven by the cyclical nature of the oil and natural gas industry and the company's financial structure.
Key Risks
- Fluctuations in Oil and Natural Gas Prices and Declining Drilling Activity: The primary risk to Nabors Industries is the volatility in oil and natural gas prices, which directly impacts drilling activity, revenues, cash flows, and overall profitability. A sustained decrease in commodity prices reduces the incentive for exploration, development, and production activities, leading to lower demand for Nabors' drilling and drilling-related services. The U.S. drilling market, a significant operational area for Nabors, has experienced a decline in activity and daily rig margins due to increased costs and operational inefficiencies, further exacerbating this risk.
- High Debt Load and Limited Financial Flexibility: Nabors Industries carries a substantial long-term debt burden, reported at approximately $2.5 billion as of December 31, 2025, and $2.7 billion as of June 30, 2025. This high leverage limits the company's financial flexibility, increases interest expenses, and makes it vulnerable to changes in interest rates and broader credit market conditions. Persistent net losses, despite efforts to improve cash flow, highlight the challenges in managing this debt and affect the company's ability to reinvest in growth or strengthen its balance sheet.
- Customer Concentration and Intense Competition: The company faces significant customer concentration risk, with Saudi Aramco accounting for a substantial portion of its consolidated operating revenues (30% in 2025, 31% in 2024, and 26% in both 2023 and 2022). The loss of this or other major customers, or the renegotiation or termination of drilling contracts on short notice or without early termination payments, could materially harm Nabors' business, financial condition, and results of operations. Additionally, Nabors operates in a highly competitive industry characterized by excess drilling capacity, which can adversely affect market share, utilization rates, and pricing.
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Global Markets
- Global Oil and Gas Wells Drilling Services Market: The market for global oil and gas wells drilling services was valued at approximately USD 160.88 billion in 2025.
- Global Offshore Drilling Market: The global offshore drilling market was valued at about USD 43.78 billion in 2025 and is projected to reach USD 47.73 billion in 2026. Other sources indicate a 2024 value of USD 39.865 million or USD 39.61 billion.
- Global Land Drilling Rig Market: This market, which includes the manufacturing and sale of drilling equipment, was valued at USD 45.19 billion in 2025 and is projected to reach USD 47.08 billion in 2026.
- Global Oilfield Services Market: The broader global oilfield services market, which encompasses drilling and drilling-related services, was valued at USD 270.53 billion in 2025 and is projected to grow to USD 290.8 billion in 2026.
U.S. Markets
- U.S. Oil Field Drilling Services Market: This market was valued at USD 71.0 billion in 2025 and is projected to be USD 67.0 billion in 2026.
- United States Offshore Drilling Market: The market size for offshore drilling in the United States was valued at USD 2.48 billion in 2023 and is expected to reach USD 4.13 billion by 2033.
Canada Markets
- Canada Oil & Gas Field Services Market: The market size for oil and gas field services in Canada, which includes drilling services, was USD 47.8 billion in 2025 and USD 48.4 billion in 2026. Another source indicates a value of USD 10 billion based on historical analysis.
- Canada Underbalanced Drilling Market: This specialized drilling service market generated USD 190.1 million in revenue in 2024.
International Markets (Offshore Drilling by Region)
- Asia Pacific Offshore Drilling Market: This region's offshore drilling market was valued at USD 8,999 million (approximately USD 9.0 billion) in 2024 and is expected to reach USD 11,033 million by 2030. Asia Pacific held the largest share of the global offshore drilling market at 44.73% in 2024.
- Middle East & Africa Offshore Drilling Market: This market captured 22.42% of the global market in 2025, generating USD 9.82 billion in revenue, and is projected to reach USD 10.88 billion in 2026.
- Latin America Offshore Drilling Market: In 2025, Latin America generated USD 3.82 billion, contributing 8.72% to global market revenue, and is projected to grow to USD 4.21 billion in 2026.
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Nabors Industries (NYSE: NBR) is positioned for future revenue growth over the next two to three years, driven by several strategic initiatives and market trends:
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International Drilling Expansion: The company anticipates continued growth in its international drilling operations, particularly in the Middle East (including Saudi Arabia and Kuwait), Asia Pacific, and Latin America (Argentina). This expansion is supported by new rig deployments and reactivations, often secured through long-term contracts, which are expected to increase the international rig count.
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Growth in Drilling Solutions and Rig Technologies: Nabors expects its Drilling Solutions and Rig Technologies segments to significantly increase their contributions to revenue. Drilling Solutions is highlighted for its high-margin services, while Rig Technologies benefits from third-party sales of high-margin rig components, rentals, and spare parts.
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Synergies from Acquisitions, notably Parker Wellbore: The acquisition of Parker Wellbore is a key driver, projected to enhance adjusted EBITDA through synergies and an expanded portfolio of services and products.
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Advancements in Technology and Drilling Automation: Nabors is leveraging its advanced technology solutions, including drilling automation platforms like REVit, ROCKit, SmartNAV, SmartSLIDE, and RigCLOUD, as well as new rig technologies such as the PACE-X Ultra. These innovations are expected to drive demand by offering enhanced efficiency, performance, and contributing to margin expansion.
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Newbuild Programs: The company's newbuild programs, such as the SANAD joint venture, especially in Saudi Arabia, are anticipated to contribute to future revenue growth through long-term contracts and increased rig deployments. These programs involve significant capital expenditures and are expected to generate substantial EBITDA.
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Share Repurchases
- Nabors Industries completed a share repurchase program in 2025, retiring 14,012,000 shares for US$121.27 million under its 2015 authorization.
Share Issuance
- In March 2025, Nabors acquired Parker Drilling Company for cash plus 4.8 million shares.
- The number of common shares outstanding increased from 9,331,097 in aggregate as of October 31, 2021, to 10,764,937 in aggregate as of December 31, 2024. By February 6, 2026, the aggregate number of common shares outstanding reached 15,834,469.
Outbound Investments
- In March 2025, Nabors acquired Parker Drilling Company for cash plus 4.8 million shares, with the deal valued at approximately $180.6 million. This acquisition expanded Nabors' Drilling Solutions business by adding Quail Tools, a casing running contractor, and a fleet of ten drilling rigs.
- Nabors sold its Quail Tools, LLC subsidiary to Superior Energy Services for $625 million, which included $375 million in cash at closing and a $250 million seller financing note that was fully prepaid.
- Nabors has invested in venture opportunities focused on carbon reduction, including alternative energy sources such as geothermal, hydrogen, energy storage, carbon capture, and emissions monitoring. Specific investments include a business combination with Vast Solar Pty. Ltd. in December 2023 and an investment in GA Drilling, an ultra-deep geothermal drilling technology innovator, in March 2022.
Capital Expenditures
- Capital expenditures for the full year 2025 totaled $695 million, which included $274 million allocated for SANAD newbuilds.
- For the full year 2026, Nabors projects capital expenditures to be in the range of $730 million to $760 million, with $360 million to $380 million specifically for SANAD newbuilds.
- The primary focus of these capital expenditures is on rig enhancements and new construction, particularly within the SANAD newbuild program.
Peer Outperformance in Oil & Gas Drilling
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Oil & Gas Refining & Marketing | 11 | 119.5% | 128.3% | 324.7% | PBF 813% · MPC 577% · VLO 502% |
| Oil & Gas Storage & Transportation | 18 | 35.6% | 118.7% | 236.4% | INSW 875% · LPG 752% · TRGP 597% |
| Integrated Oil & Gas | 7 | 50.6% | 62.3% | 233.9% | IMO 454% · CVE 328% · SU 327% |
| Coal & Consumable Fuels | 14 | 29.3% | 65.0% | 175.7% | EU 1114% · LEU 722% · CCJ 491% |
| Oil & Gas Equipment & Services | 34 | 69.3% | 44.9% | 140.0% | FTI 1064% · SEI 883% · TDW 737% |
| Oil & Gas Exploration & Production | 51 | 23.3% | 4.9% | 111.6% | KGEI 10167% · OBE 6446% · EP 2683% |
| Oil & Gas Drilling ← | 7 | 83.6% | 0.0% | 95.5% | VAL 234% · PDS 168% · NE 148% |
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 69.20 |
| Mkt Cap | 4.4 |
| Rev LTM | 3,605 |
| Op Inc LTM | 184 |
| FCF LTM | 178 |
| FCF 3Y Avg | 193 |
| CFO LTM | 702 |
| CFO 3Y Avg | 613 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.2% |
| Rev Chg 3Y Avg | 7.1% |
| Rev Chg Q | 0.1% |
| QoQ Delta Rev Chg LTM | 0.0% |
| Op Inc Chg LTM | -34.1% |
| Op Inc Chg 3Y Avg | -14.3% |
| Op Mgn LTM | 5.5% |
| Op Mgn 3Y Avg | 8.9% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 16.8% |
| CFO/Rev 3Y Avg | 18.7% |
| FCF/Rev LTM | 3.8% |
| FCF/Rev 3Y Avg | 5.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.4 |
| P/S | 1.0 |
| P/Op Inc | 16.7 |
| P/EBIT | 15.4 |
| P/E | -13.4 |
| P/CFO | 7.6 |
| Total Yield | 3.5% |
| Dividend Yield | 1.1% |
| FCF Yield 3Y Avg | 6.1% |
| D/E | 0.4 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 13.7% |
| 3M Rtn | -9.1% |
| 6M Rtn | 20.6% |
| 12M Rtn | 98.2% |
| 3Y Rtn | 8.2% |
| 1M Excs Rtn | 10.7% |
| 3M Excs Rtn | -11.0% |
| 6M Excs Rtn | 7.6% |
| 12M Excs Rtn | 77.1% |
| 3Y Excs Rtn | -67.8% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| International Drilling | 1,598 | 1,446 | 1,345 | 1,199 | 1,043 |
| U.S. Drilling | 977 | 1,028 | 1,208 | 1,101 | 670 |
| Drilling Solutions | 513 | 314 | 302 | 243 | 172 |
| Rig Technologies | 154 | 202 | 243 | 195 | 149 |
| Other items | -57 | -60 | -91 | -85 | -56 |
| Canada Drilling | 39 | ||||
| Total | 3,185 | 2,930 | 3,006 | 2,654 | 2,018 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Drilling Solutions | 167 | 112 | 111 | 78 | 33 |
| International Drilling | 164 | 108 | 41 | -1 | -40 |
| U.S. Drilling | 131 | 176 | 262 | 109 | -76 |
| Rig Technologies | 8 | 20 | 20 | 9 | 0 |
| Other reconciling items | -208 | -169 | -164 | ||
| Other items | -150 | -131 | |||
| Canada Drilling | 3 | ||||
| Total | 263 | 248 | 270 | 44 | -211 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| International Drilling | 2,435 | 2,349 | 2,227 | 2,274 | 2,381 |
| Other reconciling items | 1,020 | 812 | |||
| U.S. Drilling | 967 | 1,050 | 1,240 | 1,389 | 1,607 |
| Drilling Solutions | 213 | 79 | 78 | 64 | 66 |
| Rig Technologies | 154 | 215 | 239 | 207 | 190 |
| Other items | 1,493 | 795 | 1,280 | ||
| Canada Drilling | 0 | 1 | |||
| Total | 4,790 | 4,504 | 5,278 | 4,730 | 5,525 |
Price Behavior
| Market Price | $94.17 | |
| Market Cap ($ Bil) | 1.3 | |
| First Trading Date | 02/28/1991 | |
| Distance from 52W High | -14.9% | |
| 50 Days | 200 Days | |
| DMA Price | $84.89 | $75.60 |
| DMA Trend | up | down |
| Distance from DMA | 10.9% | 24.6% |
| 3M | 1YR | |
| Volatility | 55.2% | 58.2% |
| Downside Capture | 11.49 | 21.95 |
| Upside Capture | -40.12 | 136.02 |
| Correlation (SPY) | -5.7% | 16.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.13 | -0.04 | -0.26 | 0.16 | 0.90 | 1.53 |
| Up Beta | 4.31 | -0.48 | -0.78 | -0.85 | 0.09 | 1.51 |
| Down Beta | -3.00 | -0.89 | -0.66 | 0.56 | 1.51 | 2.26 |
| Up Capture | -33% | 17% | -33% | 58% | 177% | 91% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 12 | 20 | 29 | 66 | 133 | 363 |
| Down Capture | -69% | 67% | 51% | 18% | 54% | 107% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 10 | 23 | 34 | 60 | 119 | 388 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NBR | |
|---|---|---|---|---|
| NBR | 165.0% | 58.4% | 1.88 | - |
| Sector ETF (XLE) | 48.3% | 21.6% | 1.73 | 59.4% |
| Equity (SPY) | 21.5% | 12.8% | 1.25 | 16.4% |
| Gold (GLD) | 30.0% | 28.5% | 0.91 | 3.9% |
| Commodities (DBC) | 38.1% | 20.1% | 1.49 | 40.7% |
| Real Estate (VNQ) | 14.4% | 13.9% | 0.73 | 4.7% |
| Bitcoin (BTCUSD) | -48.7% | 42.8% | -1.44 | 13.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NBR | |
|---|---|---|---|---|
| NBR | 2.8% | 66.2% | 0.32 | - |
| Sector ETF (XLE) | 24.4% | 25.8% | 0.83 | 73.2% |
| Equity (SPY) | 13.4% | 17.2% | 0.60 | 37.8% |
| Gold (GLD) | 19.5% | 18.6% | 0.85 | 11.3% |
| Commodities (DBC) | 9.6% | 19.6% | 0.38 | 53.6% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 27.2% |
| Bitcoin (BTCUSD) | 8.2% | 52.8% | 0.34 | 18.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NBR | |
|---|---|---|---|---|
| NBR | -13.7% | 82.0% | 0.19 | - |
| Sector ETF (XLE) | 10.7% | 29.6% | 0.40 | 65.4% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 38.5% |
| Gold (GLD) | 12.0% | 16.2% | 0.60 | 5.4% |
| Commodities (DBC) | 7.7% | 18.0% | 0.34 | 47.2% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 28.3% |
| Bitcoin (BTCUSD) | 60.0% | 66.1% | 1.00 | 11.6% |
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Returns Analyses
Earnings Returns History
Updated 8/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/28/2026 | 4.8% | 10.5% | |
| 4/28/2026 | 11.3% | 12.5% | -0.4% |
| 2/11/2026 | -9.9% | 8.1% | 8.1% |
| 10/28/2025 | 10.2% | 9.8% | 5.7% |
| 7/29/2025 | 2.2% | 1.6% | 8.2% |
| 4/29/2025 | -7.0% | -8.7% | -8.5% |
| 2/13/2025 | -5.0% | -13.0% | -11.7% |
| 10/22/2024 | -1.8% | 2.5% | 1.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 11 |
| # Negative | 11 | 11 | 12 |
| Median Positive | 6.5% | 10.5% | 8.1% |
| Median Negative | -5.0% | -8.7% | -10.0% |
| Max Positive | 22.4% | 24.9% | 80.6% |
| Max Negative | -13.1% | -16.8% | -27.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/28/2026 | 4.8% | 10.5% | |
| 4/28/2026 | 11.3% | 12.5% | -0.4% |
| 2/11/2026 | -9.9% | 8.1% | 8.1% |
| 10/28/2025 | 10.2% | 9.8% | 5.7% |
| 7/29/2025 | 2.2% | 1.6% | 8.2% |
| 4/29/2025 | -7.0% | -8.7% | -8.5% |
| 2/13/2025 | -5.0% | -13.0% | -11.7% |
| 10/22/2024 | -1.8% | 2.5% | 1.6% |
| 7/23/2024 | 10.4% | 21.7% | -4.2% |
| 4/25/2024 | 1.3% | -7.7% | -4.3% |
| 2/6/2024 | -1.2% | -6.8% | 4.4% |
| 10/26/2023 | -6.2% | -15.9% | -17.9% |
| 7/25/2023 | 3.1% | 2.3% | -7.3% |
| 4/25/2023 | -3.4% | -12.5% | -11.4% |
| 2/7/2023 | 6.7% | -5.0% | -22.7% |
| 10/25/2022 | 22.4% | 24.9% | 14.1% |
| 8/3/2022 | -13.1% | -6.5% | -7.1% |
| 4/27/2022 | -0.7% | 3.3% | 2.7% |
| 2/8/2022 | 5.5% | 11.2% | 44.7% |
| 10/27/2021 | -8.3% | -16.8% | -27.9% |
| 7/28/2021 | 1.9% | -13.8% | -16.8% |
| 4/28/2021 | -3.9% | -2.9% | 8.5% |
| 2/23/2021 | 19.7% | 19.3% | 2.8% |
| 11/3/2020 | 6.5% | 23.2% | 80.6% |
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 11 |
| # Negative | 11 | 11 | 12 |
| Median Positive | 6.5% | 10.5% | 8.1% |
| Median Negative | -5.0% | -8.7% | -10.0% |
| Max Positive | 22.4% | 24.9% | 80.6% |
| Max Negative | -13.1% | -16.8% | -27.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/13/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/12/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/09/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/13/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/12/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/09/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/02/2022 | 10-Q |
| 12/31/2021 | 02/18/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/02/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/24/2021 | 10-K |
| 09/30/2020 | 11/04/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/25/2020 | 10-K |
| 09/30/2019 | 11/01/2019 | 10-Q |
Recent Forward Guidance
Updated 7/29/2026Latest: Q2 2026 Earnings Reported 7/28/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Lower 48 average rig count | 73 | 8.1% | Higher New | Actual: 67.5 for Q2 2026 | |||
| Q3 2026 Lower 48 daily adjusted gross margin | 1380000.0% | 3.8% | Higher New | Actual: 1330000.0% for Q2 2026 | |||
| Q3 2026 Alaska and Gulf of America combined adjusted EBITDA | 11.00 Mil | -26.7% | Lower New | Actual: 15.00 Mil for Q2 2026 | |||
| Q3 2026 International average rig count | 94 | 95 | 96 | 1.1% | Higher New | Actual: 94 for Q2 2026 | |
| Q3 2026 International daily adjusted gross margin | 1810000.0% | 1825000.0% | 1840000.0% | 4.6% | Higher New | Actual: 1745000.0% for Q2 2026 | |
| Q3 2026 Drilling Solutions adjusted EBITDA | 42.00 Mil | 7.7% | Higher New | Actual: 39.00 Mil for Q2 2026 | |||
| Q3 2026 Rig Technologies adjusted EBITDA | 5.00 Mil | 5.50 Mil | 6.00 Mil | 83.3% | Higher New | Actual: 3.00 Mil for Q2 2026 | |
| Q3 2026 Capital Expenditures | 245.00 Mil | 250.00 Mil | 255.00 Mil | 35.1% | Higher New | Actual: 185.00 Mil for Q2 2026 | |
| Q3 2026 Adjusted free cash flow consumption | -40.00 Mil | -500.0% | Lower New | Actual: 10.00 Mil for Q2 2026 | |||
| 2026 Capital Spending | 710.00 Mil | 720.00 Mil | 730.00 Mil | -3.4% | Lowered | Guidance: 745.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 920.00 Mil | 925.00 Mil | 930.00 Mil | ||||
| 2026 Adjusted free cash flow | 20.00 Mil | 25.00 Mil | 30.00 Mil | ||||
Prior: Q1 2026 Earnings Reported 4/28/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Lower 48 average rig count | 67 | 67.5 | 68 | 4.7% | Higher New | Guidance: 64.5 for Q1 2026 | |
| Q2 2026 Lower 48 daily adjusted gross margin | 1330000.0% | 0.8% | Higher New | Guidance: 1320000.0% for Q1 2026 | |||
| Q2 2026 Alaska and Gulf of America combined adjusted EBITDA | 15.00 Mil | -9.1% | Lower New | Guidance: 16.50 Mil for Q1 2026 | |||
| Q2 2026 International average rig count | 93 | 94 | 95 | 2.7% | Higher New | Guidance: 91.5 for Q1 2026 | |
| Q2 2026 International daily adjusted gross margin | 1740000.0% | 1745000.0% | 1750000.0% | -0.6% | Lower New | Guidance: 1755000.0% for Q1 2026 | |
| Q2 2026 Drilling Solutions Adjusted EBITDA | 39.00 Mil | 0 | Same New | Guidance: 39.00 Mil for Q1 2026 | |||
| Q2 2026 Rig Technologies Adjusted EBITDA | 3.00 Mil | 50.0% | Higher New | Guidance: 2.00 Mil for Q1 2026 | |||
| Q2 2026 Capital Expenditures | 180.00 Mil | 185.00 Mil | 190.00 Mil | 5.7% | Higher New | Guidance: 175.00 Mil for Q1 2026 | |
| Q2 2026 Adjusted free cash flow | 10.00 Mil | ||||||
| 2026 Full-year capital spending | 730.00 Mil | 745.00 Mil | 760.00 Mil | 0 | Affirmed | Guidance: 745.00 Mil for 2026 | |
Q4 2025 Earnings Reported 2/11/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Lower 48 average rig count | 64 | 64.5 | 65 | 11.2% | Higher New | Guidance: 58 for Q4 2025 | |
| Q1 2026 Lower 48 daily adjusted gross margin | 1320000.0% | 1.5% | Higher New | Guidance: 1300000.0% for Q4 2025 | |||
| Q1 2026 Alaska and Gulf of America combined adjusted EBITDA | 16.00 Mil | 16.50 Mil | 17.00 Mil | -34.0% | Lower New | Guidance: 25.00 Mil for Q4 2025 | |
| Q1 2026 International average rig count | 91 | 91.5 | 92 | 0.5% | Higher New | Guidance: 91 for Q4 2025 | |
| Q1 2026 International daily adjusted gross margin | 1750000.0% | 1755000.0% | 1760000.0% | -3.3% | Lower New | Guidance: 1815000.0% for Q4 2025 | |
| Q1 2026 Drilling Solutions Adjusted EBITDA | 39.00 Mil | 0.0% | Same New | Guidance: 39.00 Mil for Q4 2025 | |||
| Q1 2026 Rig Technologies Adjusted EBITDA | 2.00 Mil | -63.6% | Lower New | Guidance: 5.50 Mil for Q4 2025 | |||
| Q1 2026 Capital Expenditures | 170.00 Mil | 175.00 Mil | 180.00 Mil | ||||
| 2026 Lower 48 average rig count | 61 | 62.5 | 64 | ||||
| 2026 Lower 48 daily adjusted gross margin | 1300000.0% | 1320000.0% | 1340000.0% | ||||
| 2026 Alaska and Gulf of America combined adjusted EBITDA | 55.00 Mil | 57.50 Mil | 60.00 Mil | ||||
| 2026 International average rig count | 96 | 97 | 98 | ||||
| 2026 International daily adjusted gross margin | 1850000.0% | ||||||
| 2026 Drilling Solutions Adjusted EBITDA | 160.00 Mil | 165.00 Mil | 170.00 Mil | ||||
| 2026 Rig Technologies Adjusted EBITDA | 22.00 Mil | 23.50 Mil | 25.00 Mil | ||||
| 2026 Capital Expenditures | 730.00 Mil | 745.00 Mil | 760.00 Mil | 302.7% | Higher New | Guidance: 185.00 Mil for 2025 | |
Q3 2025 Earnings Reported 10/28/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Lower 48 average rig count | 57 | 58 | 59 | 0 | Affirmed | Guidance: 58 for Q3 2025 | |
| Q4 2025 Lower 48 daily adjusted gross margin | 1300000.0% | -2.3% | Lowered | Guidance: 1330000.0% for Q3 2025 | |||
| Q4 2025 Alaska and Gulf of America combined adjusted EBITDA | 25.00 Mil | -3.8% | Lowered | Guidance: 26.00 Mil for Q3 2025 | |||
| Q4 2025 International average rig count | 91 | 4.0% | Raised | Guidance: 87.5 for Q3 2025 | |||
| Q4 2025 International daily adjusted gross margin | 1810000.0% | 1815000.0% | 1820000.0% | 1.4% | Raised | Guidance: 1790000.0% for Q3 2025 | |
| Q4 2025 Drilling Solutions Adjusted EBITDA | 39.00 Mil | ||||||
| Q4 2025 Rig Technologies Adjusted EBITDA | 5.00 Mil | 5.50 Mil | 6.00 Mil | 120.0% | Raised | Guidance: 2.50 Mil for Q3 2025 | |
| 2025 Capital Expenditures | 180.00 Mil | 185.00 Mil | 190.00 Mil | -73.8% | Lowered | Guidance: 705.00 Mil for 2025 | |
| Q4 2025 Adjusted Free Cash Flow | 10.00 Mil | ||||||
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Industry Resources
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| CNBC | Etrade |
| MarketWatch | Unusual Whales |
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| FinViz |
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