Drilling services company Nabors Industries (NYSE: NBR) will be announcing earnings results this Tuesday afternoon. Here’s what to look for.
Nabors Industries beat analysts’ revenue expectations last quarter, reporting revenues of $797.5 million, up 9.3% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a decent beat of analysts’ EBITDA estimates.
Is Nabors Industries a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Nabors Industries’s revenue to grow 4.7% year on year, improving from its flat revenue in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Nabors Industries has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Nabors Industries’s peers in the oilfield services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. World Kinect delivered year-on-year revenue growth of 2.5%, beating analysts’ expectations by 10.4%, and Liberty Energy reported revenues up 4.5%, topping estimates by 6.7%. World Kinect traded up 10.9% following the results while Liberty Energy was also up 9.9%.
Read our full analysis of World Kinect’s results here and Liberty Energy’s results here.
Investors in the oilfield services segment have had steady hands going into earnings, with share prices flat over the last month. Nabors Industries is up 2.9% during the same time and is heading into earnings with an average analyst price target of $85.25 (compared to the current share price of $89.94).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
