Nabors Industries Posts Q3 Loss Despite Higher Revenue, Adjusted EBITDA Growth

Nabors Industries Ltd. (NBR) reported a third-quarter net loss attributable to shareholders of $11.2 million, or $1.24 per share, on Tuesday, reversing a year-earlier profit of $274.2 million, or $16.85 per share. Operating revenues rose to $872.2 million from $818.2 million. Adjusted EBITDA increased nearly 4% to $245.5 million from $236.3 million, and adjusted operating income climbed to $85.8 million from $76.0 million, supported by stronger International Drilling performance, a larger Lower 48 fleet and growth in Drilling Solutions. For the fourth quarter, Nabors expects adjusted free cash flow of $60 million to $70 million and sequential adjusted EBITDA growth. For full-year 2026, the company projects adjusted EBITDA of approximately $930 million and adjusted free cash flow of $100 million to $110 million.