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Sep 30, 2021
Nabors Q3 2021 Earnings Report
Nabors' performance in Q3 2021 was driven by increased adjusted EBITDA, strong free cash flow generation, and advancements in technology portfolio.
Key Takeaways
Nabors Industries reported Q3 2021 operating revenues of $524 million. Adjusted EBITDA increased by 7% versus the second quarter even with the sale of Canada drilling operations. Free cash flow generation was excellent, leading to an improvement in leverage.
Adjusted EBITDA increased by 7% versus the second quarter even with the sale of Canada drilling operations.
All current segments grew sequentially.
Free cash flow generation was excellent, facilitating leverage improvement.
Successfully deployed the industry’s first fully-automated PACE®-R rig for an operator in the Permian Basin.
Forward Guidance
Nabors anticipates continued improvement in industry fundamentals into 2022. The company expects strong increases in rig count and pricing driven by a favorable commodity environment.
Positive Outlook
- Continued favorable commodity environment will drive strong increases in rig count and pricing.
- Advancements in technology and digital automation.
- Talented workforce and a global fleet that is second-to-none.
- Robust offering of apps and digital automation technology in the industry.
- Implemented multiple financial strategies to improve leverage.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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