Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Nabors Industries Ltd.    NBR   BMG6359F1032

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Nabors 1Q Profit Climbs 62% On U.S. Drilling Activity

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/24/2012 | 10:42pm CEST

Nabors Industries Ltd.'s (>> Nabors Industries Ltd.) first-quarter profit jumped 62% on continued revenue growth in its continental U.S. drilling business.

The stronger-than-expected results continue Nabors's streak of improved core earnings, as U.S. oil-and-gas producers adopt increasingly complex drilling techniques to access harder-to-reach reserves, boosting the contractor's top line.

At the same time, Nabors is working to improve its operational efficiency after the company acknowledged it strayed off target in its exploration and production forays, which led it to miss growth opportunities in the U.S. The company last month unveiled plans to raise at least $800 million from selling oil and gas properties and other noncore businesses, the latest in a series of divestitures.

Heavy North American drilling activity also helped boost earnings for rival Schlumberger Ltd. (SLB), which on Friday reported a stronger-than-expected core profit.

Nabors posted a profit of $134.1 million, or 46 cents a share, up from $82.8 million, or 28 cents a share, a year earlier. Excluding impairment charges and other adjustments, per-share earnings from continuing operations rose to 65 cents from 29 cents as revenue jumped 32% to $1.84 billion.

Analysts polled by Thomson Reuters were looking for a 50-cent per-share profit with $1.8 billion of revenue.

Operating earnings in Nabors's U.S.-lower-48 land-drilling business, its largest segment, grew 31%, while its domestic pressure-pumping business reported 54% higher earnings. Profit rose 17% in the smaller international business.

Shares were up 1.4% at $16.18 in light after-hours trading Tuesday. The stock had declined 50% over the past year through Tuesday's close.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stocks mentioned in the article : Nabors Industries Ltd.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NABORS INDUSTRIES LTD.
07/17 NABORS INDUSTRIES : Technical Insights on Oil & Gas Stocks -- Ensco, Nabors Indu..
07/12 Facebook's Zuckerberg drills down into North Dakota's oil patch
07/10 NABORS INDUSTRIES LTD : . Second Quarter 2017 Earnings Conference Call Invitatio..
07/07 NABORS INDUSTRIES LTD. : Second Quarter 2017 Earnings Conference Call Invitation
07/05 NABORS INDUSTRIES LTD. : Today's Research Reports on Stocks to Watch: Nabors Ind..
06/20 NABORS INDUSTRIES : Announces Commencement of Offer to Exchange Senior Notes due..
06/16 NABORS INDUSTRIES : Technical Insights on Oil & Gas Stocks -- Noble, Ensco, Nabo..
06/12 NABORS INDUSTRIES LTD. : ex-dividend day
06/09 NABORS INDUSTRIES LTD : Submission of Matters to a Vote of Security Holders, Reg..
05/25 U.S. oilfield service firms lag shale recovery; old deals hold
More news
News from SeekingAlpha
07/20 Cypress Semiconductor Will Go To $17 - Cramer's Lightning Round (7/19/17)
07/17 After Hours Gainers / Losers
07/07 "Prolonged stagnation" for oil prices prompts three Wells Fargo downgrades
07/07 Oil prices plunge 3% as signs of oversupplied market persist
06/27 Eight oil services stocks cut, Hi-Crush Partners is new Best Idea at Guggenhe..
Financials ($)
Sales 2017 2 522 M
EBIT 2017 -221 M
Net income 2017 -367 M
Debt 2017 3 499 M
Yield 2017 3,15%
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 2,26x
EV / Sales 2018 1,77x
Capitalization 2 198 M
Chart NABORS INDUSTRIES LTD.
Duration : Period :
Nabors Industries Ltd. Technical Analysis Chart | NBR | BMG6359F1032 | 4-Traders
Technical analysis trends NABORS INDUSTRIES LTD.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 13,1 $
Spread / Average Target 71%
EPS Revisions
Managers
NameTitle
Anthony G. Petrello Chairman, President & Chief Executive Officer
William J. Restrepo Chief Financial & Accounting Officer
Sri Valleru Chief Information Officer & Vice President
Martin Jacob Whitman Director-Emeritus
John Yearwood Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
NABORS INDUSTRIES LTD.-53.11%2 198
CHINA OILFIELD SERVICES LIMITED-13.95%6 392
SINOPEC OILFIELD SERVICE CORP-23.41%5 987
HELMERICH & PAYNE, INC.-30.06%5 877
PATTERSON-UTI ENERGY, INC.-26.63%4 186
TRANSOCEAN LTD-42.27%3 328