Nabors Industries Ltd Dossier
Outlook & Key Dates
Estimates, guidance, catalysts, and upcoming events
Analyst Estimates Learn more →
5-Yr Fwd EPS Growth
-27.1%projected annual EPS growth
Analyst Coverage
8analysts covering
FY Revenue (est.)
$3.3Bnext fiscal year
Monitoring Framework
Key Performance Indicators
Average Total Rigs Working Quarterly167.9Target: Modest sequential increases in active rig counts across key markets
Lower 48 Average Rig Count Quarterly65Target: 67 - 68 rigs for Q2 2026, exiting Q2 with approximately 69 rigs and sustaining through year-end 2026
International Average Rig Count Quarterly93Target: 93 - 95 rigs for Q2 2026
Lower 48 Daily Adjusted Gross Margin Quarterly13.3KTarget: Approximately $13,300 for Q2 2026
International Daily Adjusted Gross Margin Quarterly17.5KTarget: $17,400 - $17,500 for Q2 2026
Consolidated Adjusted EBITDA Quarterly205MTarget: Stable segment-level EBITDA sequentially with targeted growth
Watch Items
- Middle East Geopolitical Tensions and Strait of Hormuz StatusTrigger: Escalation of hostilities in the Gulf region leading to infrastructure damage or suspended drilling operationsAction: Assess potential EPS hits, customer payment risks, and operational disruptions at the SANAD joint venture in Saudi Arabia.
- SANAD Joint Venture Newbuild DeploymentsTrigger: Delays in deploying the 4 remaining scheduled newbuild rigs in Saudi Arabia for 2026Action: Monitor capital expenditure efficiency and adjust the timeline for the 20th newbuild rig expected in early 2027.
- U.S. Lower 48 Rig Count and Fleet UtilizationTrigger: Lower 48 average rig count falling below the projected 67-68 range or exit target of 69 rigsAction: Re-evaluate customer portfolio demand, pricing discipline, and the mix of gas-directed drilling activity.
- Debt Reduction and Leverage TargetsTrigger: Total debt rising above $2.1 billion or failure to progress toward the medium/long-term net leverage target of ~1xAction: Review capital allocation, free cash flow generation, and potential non-core asset sales.
Research as of 19 Jun 2026