Nabors Industries Ltd. (NBR) said it expects its fourth quarter results to modestly exceed mean estimates of $0.16 per share, excluding estimated non-cash, pre-tax charges of about $274 million or $0.65 per share. Tenty-five analysts estimate earnings per share of $0.16 for the fourth quarter.
The company stated that its oil and gas segment incurred about $255 million of these non-cash, pre-tax charges, the majority of which resulted from year-end ceiling-test adjustments in unconsolidated joint venture entities which utilize the full-cost method of accounting.
Gene Isenberg, Nabors' chairman and chief executive, commented, "These sizable non-cash charges obscure what was otherwise a good quarter, with most of our larger units achieving improved results. The writedowns in our oil and gas segment reduce to less than $700 million the carrying value of both our joint venture companies and our wholly owned oil and gas interests."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.