Nabors Sees Q1 EPS To Fall Below Consensus Estimates - Quick Facts

(RTTNews) - Oilfield services and drilling company Nabors Industries Ltd. (NBR) said that it expects first quarter earnings per share to fall below consensus estimates. Analysts polled by Thomson Reuters expect the company to report earnings of $0.21 per share for the first-quarter. Analysts' estimates typically exclude special items.

The company said that the impact is essentially confined to the Completion Services segment and should approximate $0.07 per share. The company attributed the shortfall to the persistent extraordinary weather and the resulting delays in some customers' well completion activity.

Tony Petrello, Nabors' Chairman and CEO, said "We view the first quarter's operating performance in Completion Services as temporary. Weather notwithstanding, improving underlying demand for pressure pumping gives us a constructive, though tempered, outlook for this business through the remainder of 2014. As for the balance of our business lines, our near- and longer-term outlooks remain intact."