Nabors Industries

Q2 FY2026 EarningsQ2 FY2026 operating revenue was $815M, up 4% QoQ but down 2% YoY, primarily reflecting the divestiture of Quail Tools in 2025. Adjusted EBITDA reached $222M, up 8% QoQ, driven by international expansion and Lower 48 fleet growth. Net loss narrowed to $22M compared to a $31M loss YoY. Adjusted free cash flow turned positive to $12M, a $60M sequential improvement, despite ongoing SANAD newbuild capital requirements.