Marine Link
Thursday, September 29, 2016

Nabors Reports Higher-Than-Expected Earnings

April 19, 2001

Nabors Industries Inc. on Thursday reported better-than-expected first-quarter earnings, propelled by a surge in demand for its drilling rig fleet and services.

The Houston-based driller earned $.51 per diluted share on a quarterly record operating income of $124 million, compared with $.12 a share on $33.2 million in the year-ago quarter. Wall Street analysts polled by Thomson Financial/First Call had estimated first-quarter earnings of 45 cents a share.

evenues for the quarter reached $513.8 million compared with $279.1 million in the prior year.

"These results only begin to demonstrate our potential, with global rig utilization at only 60 percent during the quarter and average pricing still well short of current leading edge rates," company officials said.



Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News