HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Nabors Industries Ltd. (NBR) on Tuesday reported a loss of $69.1 million in its fourth quarter.
The Hamilton, Bermuda-based company said it had a loss of $7.87 per share. Losses, adjusted for non-recurring costs, came to $3.89 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.06 per share.
The drilling contractor posted revenue of $769.3 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $734.5 million.
For the year, the company reported that its loss narrowed to $350.3 million, or $40.52 per share. Revenue was reported as $2.67 billion.
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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
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