Nabors Industries Announces Preliminary Q2 2024 Operating Results; Revenue Approximately $735M, Adjusted EBITDA $218M, Adjusted Free Cash Flow Between $55M And $60M; International Expansion And Stable U.S. Activity Noted; Averaged 68.7 Rigs In Lower 48 With $15,598 Gross Margin Per Rig Day, 84.4 Rigs Internationally With $16,050 Gross Margin Per Rig Day; Full Results To Be Released July 23, 2024, With Earnings Call On July 24, 2024
Portfolio Pulse from Benzinga Newsdesk
Nabors Industries has announced its preliminary Q2 2024 operating results, reporting revenue of approximately $735 million, adjusted EBITDA of $218 million, and adjusted free cash flow between $55 million and $60 million. The company highlighted international expansion and stable U.S. activity, with an average of 68.7 rigs in the Lower 48 and 84.4 rigs internationally. Full results will be released on July 23, 2024, followed by an earnings call on July 24, 2024.
July 17, 2024 | 12:53 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Nabors Industries reported preliminary Q2 2024 results with strong revenue and EBITDA figures, indicating stable U.S. activity and international expansion. The full results will be released on July 23, 2024, with an earnings call on July 24, 2024.
The preliminary results show strong financial performance with significant revenue and EBITDA, which is likely to positively impact the stock price in the short term. The upcoming full results and earnings call could provide further insights and potentially drive the stock price higher.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100