Nabors Q4 Revenue Climbs 9.3% to $797.5M, EPS of $0.17 Far Exceeds Estimate
Nabors Industries posted Q4 revenue of $797.53M, up 9.3% year over year, narrowly topping $796.62M consensus while delivering EPS of $0.17 versus -$6.67 a year ago, a 105.8% surprise to -$2.93 estimate. International drilling revenues rose 14.1% to $423.84M, though U.S. drilling slipped 0.4% to $240.62M.
1. Q4 Financial Results
Nabors reported Q4 revenue of $797.53 million, up 9.3% year over year, narrowly beating the $796.62 million consensus. The company swung to EPS of $0.17 from a loss of $6.67 a year ago, surpassing the -$2.93 estimate by 105.8%.
2. Segment Performance Trends
International drilling operating revenues climbed 14.1% to $423.84 million, while U.S. drilling revenues dipped 0.4% to $240.62 million. Drilling solutions revenue advanced 42% to $107.88 million and rig technologies revenue declined 32.8% to $37.75 million.
3. Rig Activity Metrics
Average rigs working totaled 93 internationally versus 91 forecast and 70 in the U.S. versus 69 estimated. Daily rig revenues were $49.39 million internationally and $37.58 million domestically, with daily adjusted gross margin of $17.63 million offshore.
4. Market Reaction and Positioning
Shares have gained 9.9% over the past month versus a 0.3% decline in the S&P 500, and analysts maintain a Hold rating signaling expected in-line performance with the broader market.