Contractor beats estimates as average rig count climbs
Drilling activity for Nabors Industries accelerated across all markets in the second quarter of 206, although its revenue fell year-on-year because of a drop in its digital and automation segment.
The company’s second quarter revenue was $814.8 million, down 2% from the same three months of 2025. It posted adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $221.7 million, according to the US drilling contractor’s quarterly report.
Nabors beat analyst projections for revenue and adjusted EBITDA, according to figures from Barclays.
Nabors recorded a $22 million net loss, an improvement upon its $31 million loss in the same frame of 2025.
Although Nabors’ US and international drilling segments saw revenue rise, its drilling solutions unit, which includes its digital and automation offering, endured a 35% revenue drop to $170 million.
Nabors’ average rig count grew by 13 year-over-year to 171 in the second quarter as both its US and international segments posted rig count increases. Nabors expects both divisions to post additional gains in the third quarter.
Nabors said it maintained “reliable operations” in Persian Gulf markets despite volatility in the Middle East this year.
Sanad, Nabors’ joint venture with Saudi Aramco, deployed one newbuild rig in Saudi Arabia in the second quarter, and three more newbuild deployments are scheduled for this year. The joint venture also reactivated another rig that had previously been suspended by the kingdom.
Shares for Nabors fell 3.8% on Tuesday.
“Your company news doesn’t just get published – it’s seen by the decision makers who matter.”
