Nabors Industries Sees Q2 Operating Income Below Consensus - Quick Facts

(RTTNews) - Nabors Industries Ltd. (NBR) announced that it expects second quarter operating income to be in the range of $88 to $91 million. Operating results are expected to fall below consensus estimates.

The company said the shortfall is most pronounced in two business lines: Rig Services and Completion and Production Services. Within Rig Services, lower sales of capital equipment and reduced service and rental activity impacted financial performance. Adverse weather and intense competition negatively affected results in Completion and Production Services, particularly for pressure pumping in the U.S. and Canada.