Last $13.03 USD
Change Today -2.04 / -13.54%
Volume 6.0M
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As of 11:58 AM 11/28/14 All times are local (Market data is delayed by at least 15 minutes).

nabors industries ltd (NBR) Key Developments

Nabors Industries Ltd. Reports Revised Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Nabors Industries Ltd. reported revised earnings results for the third quarter and nine months ended September 30, 2014. The company revised third-quarter 2014 diluted earnings per share from continuing operations of $0.34, versus the $0.19 previously announced in earnings press release for the third quarter of 2014 that was issued on October 21, 2014. The revision is due to a change in the non-cash income tax provision for the third quarter. Upon review, it was determined that the previously reported $63.3 million non-cash tax charge related to the restructuring of the company's completion and production entities in preparation for the pending transaction with C&J Energy Services should be reduced by approximately $45.0 million to $18.3 million. As a result of the revision, the total income tax provision for the third quarter of 2014 is $61.5 million, compared to the $106.5 million previously announced, and net income for the period is $106.4 million, compared to the $61.4 million previously announced. Income from continuing operations, net of tax was $102,430,000 compared to $57,426,000 previously announced. For the nine months, net income for the period is $220,411,000, compared to the $175,407,000 previously announced. Income from continuing operations, net of tax was $217,136,000 compared to $172,132,000 previously announced. Diluted earnings per share from continuing operations were $0.71, versus the $0.56 previously announced.

Nabors Industries Declares Cash Dividend, Payable on December 31, 2014

On October 24, 2014, Nabors Industries Ltd. Board of Directors declared a cash dividend of $0.06 per common share, which will be paid on December 31, 2014 to shareholders of record at the close of business on December 10, 2014.

Nabors Industries Ltd. Presents at Stephens Inc. Fall Investment Conference 2014, Nov-12-2014 08:00 AM

Nabors Industries Ltd. Presents at Stephens Inc. Fall Investment Conference 2014, Nov-12-2014 08:00 AM. Venue: New York Palace Hotel, 455 Madison Avenue, New York, New York, United States.

Nabors Industries Ltd. Reports Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Financial Guidance for the Full Year of 2014

Nabors Industries Ltd. reported consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported operating revenues were $1,813,762,000 against $1,551,593,000 a year ago. Total revenues and other income was $1,813,100,000 against $1,550,194,000 a year ago. Income from continuing operations before income taxes was $163,941,000 against loss of $134,444,000 a year ago. Income from continuing operations, net of tax was $57,426,000 or $0.19 diluted per share against loss of $90,510,000 or $0.30 diluted per share a year ago. Net income attributable to the company was $61,044,000 or $0.20 diluted per share against loss of $105,381,000 or $0.35 diluted per share a year ago. Adjusted EBITDA was $489,958,000 against $439,337,000 a year ago. Capital expenditures for the third quarter were $488 million. Operating income was $203,377 million against $165,893 million a year ago. Net income from continuing operations, excluding net charges from strategic transactions, was $116,730,000, a sequential increase of 57%. Earnings per diluted share, excluding net charges, were $0.39, compared to $0.24 in the second quarter of this year. Adjusted income from operating activities was $203,377,000 compared to $165,893,000 a year ago. For the nine-month period, the company reported operating revenues were $5,020,361,000 against $4,545,037,000 a year ago. Total revenues and other income was $5,024,724,000 against $4,642,135,000 a year ago. Income from continuing operations before income taxes was $305,395,000 against $3,277,000 a year ago. Income from continuing operations, net of tax was $172,132,000 or $0.56 diluted per share against 29,825,000 or $0.08 diluted per share a year ago. Net income attributable to the company was $175,407,000 or $0.58 diluted per share against net loss attributable to the company of $10,621,000 or $0.03 diluted per share a year ago. Adjusted EBITDA was $1,297,406,000 against $1,207,654,000 a year ago. Net debt as on September 30, 2014, was $3,791 million. Adjusted income from operating activities was $445,878,000 compared to $398,635,000 a year ago. The company expects full year 2014 capital spending of approximately $1.9 billion. The company estimates full year depreciation and amortization of approximately $1.2 billion. The company's full year effective income tax rate is now estimated at 20% on normalized pretax earnings. The company expects the operating income and earnings of business to continue improving as compared to the third quarter.

Nabors Industries Ltd. to Report Q3, 2014 Results on Oct 21, 2014

Nabors Industries Ltd. announced that they will report Q3, 2014 results at 5:00 PM, SA Western Standard Time on Oct 21, 2014

 

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