Nabors: 4Q Earnings Snapshot
HAMILTON, Bermuda (AP) _ Nabors Industries Ltd. (NBR) on Thursday reported a loss of $262.7 million in its fourth quarter.
The Hamilton, Bermuda-based company said it had a loss of 77 cents per share. Losses, adjusted for one-time gains and costs, were 24 cents per share.
The results matched Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for a loss of 24 cents per share.
The drilling contractor posted revenue of $715.8 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $743.2 million.
For the year, the company reported that its loss widened to $702.9 million, or $2.11 per share. Revenue was nearly unchanged at $3.05 billion.
In the final minutes of trading on Thursday, the company's shares hit $2.32. A year ago, they were trading at $3.32.
_____
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