Nabors Q2 Loss Narrows

(RTTNews) - Nabors Industries Ltd. (NBR) on Tuesday reported a loss for the second quarter that narrowed from a year ago, despite a drop in revenues.

For the second quarter, net loss narrowed to $22.3 million or $2.04 per share from a loss of $30.9 million or $2.71 per share a year ago.

Revenue increased to $816.9 million from $838.9 million.

Total costs and other deductions dropped to $802.0 million from $818.0 million last year.

During the quarter, average total rigs working increased to 171.2 from 167.9 in the prior quarter, with gains in both the Lower 48 and International Drilling businesses.

Looking ahead, Nabors now expects full-year 2026 adjusted EBITDA of $920 million to $930 million and adjusted free cash flow of $20 million to $30 million.