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Earnings analysis · 10-Q

NBR earnings analysis

Filed May 1, 2026 · Our reading of the company's report

The latest report

Nabors Industries reported Q1 2026 revenues of $783.5 million, exceeding analyst expectations of $774.4 million, although it suffered a net loss of $15.2 million compared to a profit of $33 million in Q1 2025. The…

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Nabors Industries reported Q1 2026 revenues of $783.5 million, exceeding analyst expectations of $774.4 million, although it suffered a net loss of $15.2 million compared to a profit of $33 million in Q1 2025. The company's EPS of -$1.54 reflects a significant decline from the prior year's earnings of $2.18. Notable segment performance included growth in U.S. and International Drilling, while Rig Technologies faced a sharp downturn.

Read the original on SEC.gov

Where revenue came from

The business segments reported by the company.

International Drilling 52.8% U.S. Drilling 30.4% Drilling Solutions 13.4% Rig Technologies 3.4%

Shares of the segments disclosed in this filing, largest first.

Reported figures

Earnings per share
$-1.54

What stood out

  • Revenue Exceeds Expectations

    Operating revenues reached $783.5 million, surpassing consensus of $774.4 million.

  • Improved Operating Cash Flow

    Net cash provided by operating activities totaled $113.3 million, a rise from $87.7 million in Q1 2025.

  • Growth in International Drilling

    The International Drilling segment's revenues increased by $37.8 million, up 10% year over year.

  • Decrease in Interest Expense

    Interest expense decreased by $10.6 million to $43.8 million, due to reduced average debt.

  • Growth in U.S. Drilling

    U.S. Drilling segment revenues grew by $10.4 million, a 5% increase over the previous year.

  • Significant Decrease in Rig Technologies

    Rig Technologies segment revenues plummeted by $16.9 million, a 38% decline year over year.

What to watch

  • Significant Net Loss

    Nabors reported a net loss of $15.2 million compared to a profit of $33 million in Q1 2025.

  • Sluggish Rig Technologies Performance

    Rig Technologies segment saw a 38% drop in revenues, highlighting operational challenges.

  • Dependence on Oil and Gas Prices

    The company’s future performance is closely tied to fluctuations in oil and gas prices, leading to persistent uncertainties.

Management's outlook

Outlook deferred to earnings press release / call.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.