HAMILTON, Bermuda, July 17, 2024 /PRNewswire/ -- Nabors Industries Ltd. (NYSE:NBR) ("Nabors" or "the Company") announced today certain preliminary operating results for the second quarter ended June 30, 2024. Nabors preliminary results for the second quarter continued to highlight the ongoing international expansion and relatively stable activity and pricing in its U.S. markets. Revenue and EBITDA estimates met the Company's expectations with adjusted free cash flow somewhat stronger than anticipated. The Company expects that for the three months ended June 30, 2024: (i) operating revenue to be approximately $735 million, (ii) income (loss) before income taxes of between ($5) million and $5 million, (iii) adjusted EBITDA of approximately $218 million and (iv) adjusted free cash flow of between $55 million and $60 million. During the same quarter, Nabors averaged 68.7 rigs operating in the Lower 48 at an average gross margin of $15,598 per rig day and averaged 84.4 rigs operating internationally at an average gross margin of $16,050 per rig day. Nabors plans to release its full second-quarter financial results after the market closes on July 23, 2024, followed by its previously announced earnings conference call at 10:00 a.m. CT on Wednesday, July 24, 2024. Nabors is currently finalizing its financial results for the three and six months ended June 30, 2024. The financial results discussed above and below for the three months ended June 30, 2024 are preliminary, based upon estimates and subject to completion of financial and operating closing procedures. Such preliminary operating results do not represent a comprehensive statement of financial results or operating metrics for this period and actual results and metrics may differ materially from these estimates following the completion of Nabors' financial and operating closing procedures, or as a result of other adjustments or developments that may arise before the results for this period are finalized. In addition, even if actual results and metrics are consistent with these preliminary results, those results or developments may not be indicative of results or developments in subsequent periods. Nabors has provided a range for certain of the preliminary results described above because the financial closing procedures for the quarter ended June 30, 2024 are not yet complete. As a result, there is a possibility that Nabors' final results will vary from these preliminary estimates. Nabors currently expects that its financial results will be within the ranges described above. It is possible, however, that final results will not be within the ranges currently estimated. About Nabors Industries Nabors Industries (NYSE:NBR) is a leading provider of advanced technology for the energy industry. With presence in more than 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com. Forward-looking Statements The information included in this press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities ...