Nabors Industries Earnings: Everything You Must Know Now
Nabors Industries Ltd. (NYSE:NBR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Nabors Industries Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 49.23% to $0.33 in the quarter versus EPS of $0.65 in the year-earlier quarter.
Revenue: Decreased 14.22% to $1.58 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Nabors Industries Ltd. reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.28. It missed the average revenue estimate of $1.64 billion.
Quoting Management: Tony Petrello , Nabors’ Chairman, President & CEO, commented, “Operating income and cash flow were essentially flat compared to the fourth quarter, as improved results in Production Services coupled with the seasonal peak in Canada were offset by a sharp decline in Completion Services and more moderate declines in our U.S. and International drilling operations. The anticipated seasonal trough in Completion Services was exacerbated by the slow restart of activity following the holidays and the series of late winter storms across the areas where a majority of our operations are located. Despite the slow start, we expect our performance to improve later this year as we begin to restore operating leverage across our Production Services and drilling operations.”
Key Stats (on next page)…