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Last $11.40 USD
Change Today +0.63 / 5.85%
Volume 13.6M
NBR On Other Exchanges
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Exchange
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As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

nabors industries ltd (NBR) Key Developments

Nabors Industries Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year 2015

Nabors Industries Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues and other income of $863,370,000 against $1,623,471,000 a year ago. Income from continuing operations before income taxes was $24,555,000 against $77,719,000 a year ago. Loss from continuing operations, net of tax was $41,890,000 or $0.13 per basic and diluted share against income from continuing operations, net of tax of $65,729,000 or $0.21 per basic and diluted share a year ago. Net loss attributable to the company was $36,821,000 or $0.13 per basic and diluted share against net income attributable to the company of $64,444,000 or $0.21 per basic and diluted share a year ago. Adjusted EBITDA was $288,177,000 against $416,280,000 a year ago. Operating Revenue was $863,305,000 against $1,616,981,000 a year ago. Adjusted income derived from operating activities was $69,981,000 against $133,460,000 a year ago. Adjusted loss from continuing operations was $41,126,000 against adjusted income from continuing operations of $62,814,000 a year ago. For the six months, the company reported operating revenues of $2,278,012,000 against $3,206,599,000 a year ago. Total revenues and other income was $2,285,548,000 against $3,211,624,000 a year ago. Income from continuing operations before income taxes was $128,212,000 against $141,454,000 a year ago. Income from continuing operations, net of tax was $82,472,000 or $0.28 per basic and diluted share against $114,706,000 or $0.37 per basic and diluted share a year ago. Net income attributable to the company was $86,813,000 or $0.30 per basic and diluted share against $114,363,000 or $0.37 per basic and diluted share a year ago. Adjusted EBITDA was $662,643,000 against $807,448,000 a year ago. Adjusted income derived from operating activities was $163,428,000 against $242,501,000 a year ago. Adjusted income from continuing operations was $81,294,000 against $110,485,000 a year ago. For the full year 2015, the company still expects to achieve substantially higher results in International and Alaska operations compared to 2014. Effective income tax rate is now estimated at a low to mid-single-digit benefit on normalized pretax earnings, as the mix of profitability has continued to shift from high tax locations towards lower tax jurisdictions.

Nabors Industries Ltd. Declares Cash Dividend, Payable on September 30, 2015

On July 24, 2015, Nabors Industries Ltd. announced that the Board of Directors declared a cash dividend of $0.06 per common share, which will be paid on September 30, 2015 to shareholders of record at the close of business on September 9, 2015.

Nabors Industries Ltd. to Report Q2, 2015 Results on Aug 04, 2015

Nabors Industries Ltd. announced that they will report Q2, 2015 results After-Market on Aug 04, 2015

Nabors Industries Ltd., Q2 2015 Earnings Call, Aug 05, 2015

Nabors Industries Ltd., Q2 2015 Earnings Call, Aug 05, 2015

Nabors Industries Ltd. Announces Amendments to Revolving Credit Facility

Nabors Industries Ltd. announced the execution of an amendment to its existing committed, unsecured revolving credit facility. Under the terms of the amendment, the borrowing capacity under the revolving credit facility has been increased to $2.2 billion. In addition, the term of the revolving credit facility has been extended until July 2020. The current rate under the revised facility has been reduced to LIBOR plus 125 bps with standby fees of 15 bps applying to the undrawn commitment. Nabors expects to use the extended facility to provide financial flexibility for strategic investment opportunities, debt refinancing and other corporate uses. Under the terms of the revolving credit agreement, as amended, Citigroup Global Markets Inc., Mizuho Bank Ltd., HSBC Bank USA, N.A. and Wells Fargo Bank Securities, LLC., are joint lead arrangers and bookrunners. The lenders participating in the facility are Citibank, N.A., Mizuho Bank Ltd., HSBC Bank USA, N.A., Wells Fargo Bank, N.A., HSBC Bank Canada, Bank of America, N.A., Bank of Tokyo-Mitsubishi UFJ Ltd., PNC Bank, National Association, Deutsche Bank AG New York Branch, Morgan Stanley Bank, N.A., Compass Bank, U.S. Bank National Association, Goldman Sachs Bank USA, Sumitomo Mitsui Banking Corporation, Australia and New Zealand Banking Group Limited, Arab Banking Corporation, Grand Cayman Branch, and Riyad Bank, Houston Agency.

 

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Valuation NBR Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.6x
Price/Book 0.7x
Price/Cash Flow 9.9x
TEV/Sales NM Not Meaningful
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