Overview

* Nabors Q2 operating revenue of $833 mln missed analyst expectations, per LSEG data

* Adjusted EBITDA for Q2 was $248 mln, beating analyst estimates, per LSEG data

* Co reports Q2 net loss, compared to net income in Q1

Outlook

* Nabors expects Q3 U.S. Drilling lower 48 average rig count of 57 - 59 rigs

* Company forecasts Q3 U.S. Drilling lower 48 dailyadjustedgross margin of approximately

* Nabors sees Q3 international averagerig count of 87-88 rigs

* Company anticipates Q3 international dailyadjustedgross margin of approximately

* Nabors projects Q3 capital expenditures of $200-210 mln

* Company expects Q3 adjusted free cash flow in line with Q2

Result Drivers

* RIG DEPLOYMENTS - New rigs deployed in Saudi Arabia and Kuwait contributed to international drilling earnings

* PARKER INTEGRATION - Integration of Parker Wellbore operations provided cost synergies and improved financial results

* U.S. DRILLING - Higher rig counts in U.S. drilling segment offset challenges in Lower 48 market

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $832.79 $851.10

Operatin mln mln (6

g Analysts

Revenue )

Q2 EPS -$2.71

Q2 Beat $248.46 $247.20

Adjusted mln mln (6

EBITDA Analysts

)

Q2 Beat $73.40 $12.40

Adjusted mln mln (3

Operatin Analysts

g Income )

Q2 $20.87

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and 3 "sell" or "strong sell"

* The average consensus recommendation for the oil & gas drilling peer group is "buy."

* Wall Street's median 12-month price target for Nabors Industries Ltd ( NBR ) is $36.50, about 3.3% above its July 28 closing price of $35.29

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)