Nabors Industries Posts $872M Q3 Revenue, $75M Free Cash Flow

Nabors Industries Ltd. reported third-quarter 2026 operating revenues of $872 million, reflecting a 7% increase from the prior quarter, the oilfield drilling contractor announced Tuesday from its Hamilton, Bermuda headquarters. The results were headlined by a record margin performance in the company's international drilling segment and $75 million in adjusted free cash flow.

Despite the top-line growth, Nabors recorded a net loss attributable to shareholders of $11 million for the quarter. Adjusted EBITDA reached $246 million, signaling that core operational profitability remained resilient even as bottom-line results stayed in negative territory.

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The record international drilling margin underscores growing demand for Nabors' services outside North America, where the company has been expanding its footprint. Strong international activity has increasingly offset softer conditions in domestic markets, a trend that has shaped the broader contract drilling sector in recent quarters.

The adjusted free cash flow figure of $75 million is a closely watched metric for capital-intensive drilling companies, as it speaks to the firm's ability to service debt and fund operations without tapping external financing. Nabors has been focused on deleveraging its balance sheet, making cash generation a strategic priority.

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