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Why Nabors Industries’ 1Q18 Earnings Missed Estimates

Alex Chamberlin
Why Nabors Industries’ 1Q18 Earnings Missed Estimates

Nabors Industries (NBR) released its 1Q18 financial results on May 1, after the market closed. The company recorded operating revenues of $734.1 million in 1Q18, up 30.5% from $562.5 million in 1Q17. Nabors Industries’ revenues for 1Q18 increased mostly due to significantly higher year-over-year revenues in the US Drilling, Drilling Solutions, and Rig Technologies segments.