NABORS INDUSTRIES LTD (NBR) Form 8-K — Oct 27, 2026
Nabors Industries (NYSE: NBR) reported Q3 2026 operating revenues of $872 million, up 7% sequentially, with adjusted EBITDA of $246 million, up nearly 11% from Q2. Net loss attributable to shareholders was $11 million, but adjusted free cash flow reached $75 million, up $62 million sequentially. International Drilling hit a record daily adjusted gross margin of $19,060, and the Lower 48 working fleet grew to an average of 72.8 rigs. The company redeemed $100 million of its 9.125% notes, cutting gross leverage to its lowest level since 2013.
Key figures
- Revenue
- 872200000
- Guidance
- FY2026 adjusted EBITDA ~$930M (upper end of prior guidance); FY2026 adjusted FCF $100-110M (materially higher than prior guidance); Q4 2026: Lower 48 rig count ~75, L48 daily gross margin $14,500-$14,700, International rig count 92-93 at ~$19,500 daily margin, capex $250-260M, adjusted FCF $60-70M; targeting ~$1B annualized adjusted EBITDA run rate heading into 2027
- Total Debt
- 2022758000
- Revenue Yoy
- 0
- Cash Position
- 475145000
- Net debt
- 1547613000
- Fy2026 capex guidance
- $710-720M
- Adjusted ebitda q3 2026
- 245543000
- Gross debt reduction q3
- $100M redemption of 9.125% notes
- Lower48 avg rigs working
- 72.8
- Adjusted free cash flow q3
- 74523000
- International avg rigs working
- 94.9
- Record international daily gross margin usd
- 19060
AI analysis
Red flags4 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.