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Dec 31, 2022
Nabors Q4 2022 Earnings Report
Nabors reported impressive Q4 2022 results with growth across all segments.
Key Takeaways
Nabors Industries Ltd. reported Q4 2022 operating revenues of $760 million, a 10% increase compared to the previous quarter. The net loss attributable to Nabors shareholders for the quarter was $69 million, or $7.87 per share. Adjusted EBITDA was $230 million, a 21% increase compared to the previous quarter.
Total adjusted EBITDA was the highest quarterly level since 2015.
U.S. Drilling segment drove most of the growth, with unprecedented daily margins in the Lower 48 market.
Daily margin and adjusted EBITDA also improved in the International segment.
Drilling Solutions growth accelerated, surpassing $120 million annual adjusted EBITDA run rate.
Forward Guidance
Nabors expects strong performance in 2023, driven by higher dayrates, newbuild deployments in Saudi Arabia, greater penetration of advanced performance solutions, expanding activity in international markets, and broader recognition of decarbonization initiatives.
Positive Outlook
- Higher dayrates
- Newbuild deployments in Saudi Arabia
- Greater penetration of advanced performance solutions
- Expanding activity in international markets
- Broader recognition of decarbonization initiatives
Historical Earnings Impact
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Avg. Return Before/After Earnings
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