filecrux
Oct 27, 10:43 PM
$NBR Does Nabors' raised
$100–110M free cash flow guide hold once delayed Saudi rig spending comes due?
🚀 Nabors Industries, an oil and gas drilling contractor that averaged about 177 working rigs in roughly 20 countries last quarter, now expects 2026 adjusted free cash flow of
$100M–
$110M, up from the
$20M–
$30M it guided in September
📈 Third-quarter adjusted free cash flow came in at
$75M, where the company's September outlook had called for about
$40M of cash consumption, on revenue of
$872M (up 7% from Q2) and adjusted EBITDA of
$246M
⚠️ Part of the beat is timing, because the CFO said Saudi SANAD newbuild spending ran below forecast as construction milestones shifted to later periods, and the full-year SANAD newbuild budget fell to
$295–305M from
$325–335M, spending that has been pushed out rather than cancelled
📅 Next: Management discusses the quarter at 10:00 a.m. Central Time on October 28, 2026
Source: SEC 8-K, Oct 27 + SEC 8-K, Sep 8
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