Nabors Industries (NBR) released its second-quarter financial results on July 31. From the second quarter of 2017 to the second quarter of 2018, Nabors Industries’ Drilling Solutions segment’s revenues increased 88%. The US Drilling segment increased 41%, while the Rig Technologies segment increased 33%. The International Drilling segment was Nabors Industries’ highest revenue contributor at 47% followed by the US Drilling at 33% in the second quarter.
By adjusted EBITDA, the US Drilling segment saw the strongest growth of 130% in the second quarter—compared to the second quarter of 2017. The Drilling Solutions segment saw its adjusted EBITDA increase ~94%. The International Drilling segment’s adjusted EBITDA fell 9% in the second quarter—compared to the second quarter of 2017.
Next, we’ll discuss Nabors Industries’ returns.