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Nabors: 4Q Earnings Snapshot
AP

Nabors: 4Q Earnings Snapshot

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HAMILTON, Bermuda (AP) — Nabors Industries Ltd. (NBR) on Tuesday reported a loss of $108.2 million in its fourth quarter.

The Hamilton, Bermuda-based company said it had a loss of $16.45 per share. Losses, adjusted for non-recurring gains and to account for discontinued operations, were $23.82 per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $23.56 per share.

The drilling contractor posted revenue of $446.7 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $421.2 million.

For the year, the company reported that its loss widened to $805.6 million, or $118.69 per share. Revenue was reported as $2.14 billion.

Nabors shares have increased 51% since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 3%. In the final minutes of trading on Tuesday, shares hit $88.10, a drop of 10% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NBR at https://www.zacks.com/ap/NBR

Copyright by Automated Insights, Inc. All rights reserved.

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