Benzinga | Jul 28, 2020 05:28PM EDT

Nabors Industries: Q2 Earnings Insights

Shares of Nabors Industries (NYSE:NBR) rose 3.52% in after-market trading after the company reported Q2 results.

Quarterly Results

Revenue of $533,931,000 decreased by 30.78% year over year, which missed the estimate of $536,900,000.

Looking Ahead

Nabors Industries hasn't issued any earnings guidance for the time being.

Nabors Industries hasn't issued any revenue guidance for the time being.

Technicals

Company's 52-week high was at $87.00

Company's 52-week low was at $0.20

Price action over last quarter: Up 248.35%

Company Description

Nabors is one of the world's largest land rig drilling contractors. The company has more than 500 land rigs, more than 600 land workover rigs, and numerous offshore rigs that drill for oil and natural gas globally. The company derives about 75% of its revenue from North America. In addition, Nabors provides well servicing, engineering, transportation, and other services for oil and gas producers.