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Nabors Industries Ltd. — Third Quarter 2026 Earnings Summary

  • Operating revenues increased 7% sequentially and 7% year-over-year to $872.2 million, while adjusted EBITDA rose 11% sequentially to $245.5 million and adjusted free cash flow surged to $74.5 million.
  • Full-year 2026 adjusted EBITDA guidance was raised to approximately $930 million, with full-year adjusted free cash flow now expected between $100 million and $110 million.
  • Management expects an annualized adjusted EBITDA run rate of approximately $1 billion heading into 2027, supported by record International Drilling margins and a 7% increase in the U.S. Drilling working fleet.
  • The company redeemed $100 million of 9.125% notes using cash on hand, reducing total debt to $2,022.8 million, and secured a multiyear contract to deploy one rig in Venezuela in early 2027.
Company
NABORS INDUSTRIES LTD
Sector
Energy
Industry
Oil & Gas Drilling