Nabors Industries Ltd. Q3 Loss Increases, Misses Estimates

(RTTNews) - Nabors Industries Ltd. (NBR) revealed Loss for its third quarter that increased from the same period last year and missed the Street estimates.

The company's bottom line came in at -$55.83 million, or -$6.96 per share. This compares with -$48.92 million, or -$6.26 per share, in last year's third quarter.

Excluding items, Nabors Industries Ltd. reported adjusted earnings of -$63.19 million or -$6.86 per share for the period.

Analysts on average had expected the company to earn -$2.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.1% to $743.31 million from $744.14 million last year.

Nabors Industries Ltd. earnings at a glance (GAAP) :

-Earnings (Q3): -$55.83 Mln. vs. -$48.92 Mln. last year. -EPS (Q3): -$6.96 vs. -$6.26 last year. -Revenue (Q3): $743.31 Mln vs. $744.14 Mln last year.