Nabors Industries Ltd. reported Q4 2023 operating revenues of $726 million, with a net loss of $17 million. Adjusted EBITDA was $230 million. The company saw improvements in U.S. and International drilling margins and growth in Drilling Solutions and Rig Technologies segments.
Q4 operating results exceeded expectations across all segments.
U.S. daily rig margins in the Lower 48 increased sequentially.
International daily margins widened due to better operating performance and newbuild deployments in Saudi Arabia.
Drilling Solutions segment growth reflected expansion in third-party and international markets.
Nabors anticipates building on its 2023 results in 2024, with international rig awards driving growth and expanding demand for advanced technology solutions.
Visualization of income flow from segment revenue to net income
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