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Nabors: 2Q Earnings Snapshot

July 29, 2019

HAMILTON, Bermuda (AP) _ Nabors Industries Ltd. (NBR) on Monday reported a loss of $203.6 million in its second quarter.

On a per-share basis, the Hamilton, Bermuda-based company said it had a loss of 61 cents. Losses, adjusted for one-time gains and costs, were 41 cents per share.

The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.

The drilling contractor posted revenue of $771.9 million in the period, which also did not meet Street forecasts. Eight analysts surveyed by Zacks expected $798.5 million.

In the final minutes of trading on Monday, the company’s shares hit $2.11. A year ago, they were trading at $6.01.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NBR at https://www.zacks.com/ap/NBR

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