Nabors Industries has raised its full-year 2026 adjusted EBITDA guidance to a range of $920 million to $930 million and now expects to generate $20 million to $30 million in adjusted free cash flow. The company reported second-quarter adjusted EBITDA of $222 million on consolidated revenue of $815 million, with EBITDA margin expanding 107 basis points to 27.2 percent. International drilling revenue reached $432 million and EBITDA rose to $131 million, while U.S. Lower 48 drilling revenue increased to $207 million. Management highlighted that SANAD put its 16th newbuild rig into service in Saudi Arabia, where Nabors operates approximately 196 land rigs, and noted that 34 rigs remain to be delivered under the 50-rig newbuild program. The company also reaffirmed its commitment to reduce gross debt by at least $100 million during 2026 and revised its full-year capital expenditure forecast to between $710 million and $730 million.
Nabors Industries Ltd.Raised full-year EBITDA guidance and reaffirmed debt reduction plan.
SANAD put its 16th newbuild rig into service in Saudi Arabia, indicating operational progress.