Nabors Industries Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 05:15 pm EDT
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Nabors Industries Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 733.97 million compared to USD 694.14 million a year ago. Revenue was USD 744.14 million compared to USD 698.95 million a year ago. Net loss was USD 48.92 million compared to USD 13.78 million a year ago. Basic loss per share from continuing operations was USD 6.26 compared to USD 1.8 a year ago. Diluted loss per share from continuing operations was USD 6.26 compared to USD 1.8 a year ago.
For the nine months, sales was USD 2,280.18 million compared to USD 1,893.62 million a year ago. Revenue was USD 2,311.96 million compared to USD 1,899.42 million a year ago. Net income was USD 4.92 million compared to net loss of USD 281.2 million a year ago. Basic loss per share from continuing operations was USD 2.79 compared to USD 32.72 a year ago. Diluted loss per share from continuing operations was USD 2.79 compared to USD 32.72 a year ago.
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and international markets. The Company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions and Rig Technologies. Its services include tubular running services, wellbore placement solutions, directional drilling, measurement-while-drilling (MWD), logging-while-drilling (LWD) systems and services, equipment manufacturing, rig instrumentation and optimization software. Its United States fleet consists of approximately 171 alternating current (AC) rigs and 11 silicon-controlled rectifier (SCR) land rigs. Its international fleet consists of approximately 117 land-based drilling rigs located in approximately 14 countries. Through its Drilling Solutions, the Company offers specialized drilling technologies, such as patented steering systems and rig instrumentation software systems.
NABORS INDUSTRIES LTD. 
