Nabors Q3 revenue beats estimates

Nabors Industries

27/10/2026 20:26

Overview
Drilling technology firm's Q3 operating revenue rose, beating analyst expectations
Adjusted EBITDA rose nearly 11% from Q2, driven by record international drilling margins and fleet growth
Company generated $75 mln in adjusted free cash flow for the quarter

Outlook
Nabors expects full-year 2026 adjusted EBITDA of about $930 mln
Company sees full-year adjusted free cash flow of $100 mln to $110 mln
Nabors expects 2026 capital spending of $710 mln to $720 mln

Result Drivers
RECORD INTERNATIONAL MARGINS - Co said strong field performance and high-margin rig deployments boosted international drilling margins
LOWER 48 FLEET GROWTH - Co attributed improved results to a larger working fleet and higher daily margins in the Lower 48

Company press release: ID:nPn5rmYXHa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Operating Revenue
Beat
$872.20 mln
$861.59 mln (5 Analysts)
Q3 Adjusted EBITDA
 
$245.50 mln
 
Q3 Adjusted Operating Income
 
$85.80 mln
 
Q3 Pretax Profit
 
$36.43 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and 1 "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. is $110.00, about 33.7% above its October 26 closing price of $82.29
The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 148 three months ago

Reuters Recommended Reads
Oct 26 - Noble Q3 net loss widens on rigs transitioning between contracts; co lowers FY revenue guidance
Oct 26 - Borr Drilling shares fall after rig sinks offshore Gabon
Oct 27 - Freeport-McMoRan Q3 revenue rises on higher copper prices

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)