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Jun 30, 2022
Nabors Q2 2022 Earnings Report
Nabors reported an increase in operating revenues and adjusted EBITDA, driven by strong performance across all operating segments.
Key Takeaways
Nabors Industries Ltd. reported second quarter 2022 operating revenues of $631 million, an increase of approximately 11%, compared to the first quarter of 2022. The net loss from continuing operations attributable to Nabors shareholders for the quarter was $83 million, or $9.41 per share. Second quarter adjusted EBITDA was $158 million, a 21% increase, compared to the previous quarter.
Operating revenues increased by approximately 11% compared to the first quarter of 2022.
Net loss from continuing operations attributable to Nabors shareholders was $83 million, or $9.41 per share.
Adjusted EBITDA was $158 million, a 21% increase compared to the previous quarter.
All operating segments contributed to the strong adjusted EBITDA growth in the second quarter.
Forward Guidance
Nabors expects similar improvement in the third quarter. Utilization for high-spec Lower 48 rigs currently stands at 81%. For the full year 2022, Nabors expects to generate adjusted free cash flow well in excess of $100 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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