Nabors Industries Ltd. - NBR STOCK NEWS

Nabors Industries reported second quarter 2021 operating revenues of $489 million, up from $461 million in the prior quarter. The net loss attributable to shareholders was $196 million, or $26.59 per share, which included $81 million in unusual charges. Adjusted EBITDA improved to $117 million. The company experienced growth in its U.S. and International drilling segments, with a 16% average increase in Lower 48 land drilling activity. Free cash flow was $68 million, and net debt was reduced by $58 million. Further gains in drilling activity are expected.

Nabors Industries Ltd. (NYSE: NBR) will discuss its second-quarter results for the period ended June 30, 2021, on July 28, 2021, at 10:00 a.m. CT. Earnings will be released after market close on July 27, 2021. Investors can join the call through various dial-in numbers or via a live audio webcast available on Nabors' Investor Relations page. The conference call will be recorded for replay from August 4, 2021. Nabors operates one of the largest land-based drilling rig fleets and provides various drilling services and technologies.

Nabors Industries Ltd. (NYSE: NBR) announced the filing of a Registration Statement on Form S-1 by Nabors Energy Transition Corp. (NETC), its newly formed SPAC, for a proposed IPO aiming to raise $250 million. NETC plans to list on the NYSE under the symbol NETC.U and will consist of shares and warrants. The strategic goal is to identify business opportunities in the energy transition sector by leveraging Nabors' extensive experience and technology. Citigroup and Wells Fargo Securities are the joint book-running managers for the offering.

Nabors Industries Ltd. (NYSE: NBR) announced a warrant distribution to holders of its common shares. Shareholders will receive two-fifths of a warrant per share, enabling them to purchase common shares at an exercise price of $166.66667. Warrants can be exercised with cash or certain company-issued notes and expire on June 11, 2026. This move aims to enhance balance sheet leverage and maximize shareholder value. The distribution will be effective on June 11, 2021, for shareholders recorded by June 4, 2021, with trading expected over-the-counter.

Nabors Industries Ltd. (NYSE: NBR) reported first quarter 2021 operating revenues of $461 million, an increase from $443 million in Q4 2020. Despite this, the company posted a net loss of $141 million, or $20.16 per share, compared to a loss of $112 million, or $16.46 per share, in the prior quarter. Adjusted EBITDA was $108 million, matching the strong Q4 results. Notably, free cash flow reached $60 million, and total debt was reduced by $70 million. The company expects increased drilling activity due to improved commodity prices, particularly in North America and internationally.

Nabors Industries Ltd. (NYSE: NBR) will discuss its first quarter operating results on April 29, 2021, at 1:00 p.m. CT. The earnings release will be available post-market close on April 28, 2021. Participants can join the conference call via dial-in numbers or through a live audio webcast on Nabors' website. The call will also be recorded for replay. Nabors operates one of the largest land-based drilling rig fleets globally and provides various directional drilling services and technologies.

Nabors Industries Ltd. (NYSE: NBR) reported fourth quarter 2020 operating revenues of $443 million, up from $438 million in Q3 2020. The net loss for the quarter was $112 million, or $16.46 per share, despite $162 million in pretax gains from debt transactions. Adjusted EBITDA decreased to $108 million from $114 million in the previous quarter. The company saw improvements in its U.S. drilling segment and a 23% increase in the Lower 48 rig count. Free cash flow reached $66 million, while net debt decreased to $2.5 billion.

Nabors Industries Ltd. (NYSE: NBR) has postponed its fourth quarter 2020 earnings release and conference call due to severe weather conditions and power outages affecting its Houston-area employees. The earnings release is now scheduled for February 23, 2021, after market close, while the conference call will take place on February 24, 2021, at 1:00 PM CT. Participants can join via dial-in or through a live audio webcast on the company's website. Nabors operates one of the largest land-based drilling rig fleets globally, providing a range of services and technologies in the drilling sector.

Nabors Industries Ltd. (NYSE: NBR) will hold a conference call on February 18, 2021, at 1:00 p.m. CT to discuss fourth-quarter earnings results for the period ending December 31, 2020. The earnings release is scheduled for February 17, 2021. Participants can join via telephone or through a live audio webcast available on Nabors' website. Additionally, a recorded version of the call will be accessible for one week post-event. Nabors operates a large drilling rig fleet and provides various drilling services worldwide.