Nabors (NBR) Reports Q4 Earnings: What Key Metrics Have to Say
Nabors Industries (NBR) reported $737.84 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 4.1%. EPS of -$3.84 for the same period compares to -$3.89 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $749.52 million, representing a surprise of -1.56%. The company delivered an EPS surprise of -149.35%, with the consensus EPS estimate being -$1.54.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nabors performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Daily Rig Revenue - International Drilling: $46.78 million versus $48.01 million estimated by three analysts on average.
Daily Adjusted Gross Margin - International Drilling: $16.65 million versus the three-analyst average estimate of $16.25 million.
Average Rigs Working - International Drilling: 80 versus the three-analyst average estimate of 82.
Average Rigs Working - U.S. Drilling: 76 compared to the 79 average estimate based on three analysts.
Daily Rig Revenue - U.S. Drilling: $37.87 million compared to the $37.24 million average estimate based on three analysts.
Operating Revenues- U.S. Drilling: $265.76 million versus the four-analyst average estimate of $275.83 million. The reported number represents a year-over-year change of -20.2%.
Operating Revenues- International Drilling: $342.77 million versus the four-analyst average estimate of $359.65 million. The reported number represents a year-over-year change of +7.9%.
Operating Revenues- Drilling Solutions: $77.03 million versus the four-analyst average estimate of $75.46 million. The reported number represents a year-over-year change of +8%.
Operating Revenues- Other reconciling items: -$19.05 million compared to the -$24.25 million average estimate based on four analysts. The reported number represents a change of -21.9% year over year.
Operating Revenues- Rig Technologies: $59.29 million versus the four-analyst average estimate of $60.33 million. The reported number represents a year-over-year change of -5.6%.
Revenues and other income- Total Operating Revenues: $725.80 million versus $748.32 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -4.5% change.
Revenues and other income- Investment income: $12.04 million versus $8.61 million estimated by two analysts on average.
View all Key Company Metrics for Nabors here>>>
Shares of Nabors have returned -3% over the past month versus the Zacks S&P 500 composite's +5.3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Nabors Industries Ltd. (NBR) : Free Stock Analysis Report
