HAMILTON, Bermuda, Sept. 3,
2024 /PRNewswire/ -- Nabors Industries
Ltd. ("Nabors") (NYSE: NBR) today announced that William Restrepo, Chief Financial Officer, plans
to participate in Barclays 38th Annual Energy-Power
Conference on September 3-4, 2024.
Mr. Restrepo will deliver a presentation on Nabors and participate
in a panel discussion on land drilling, both on September 4.
The investor slide deck to be used for the presentation and in
meetings with investors is available in the Investor
Relations section of Nabors website, under Events &
Presentations.
About Nabors Industries
Nabors Industries (NYSE: NBR) is a leading provider of advanced
technology for the energy industry. With presence in more than 20
countries, Nabors has established a global network of people,
technology and equipment to deploy solutions that deliver safe,
efficient and responsible energy production. By leveraging its core
competencies, particularly in drilling, engineering, automation,
data science and manufacturing, Nabors aims to innovate the future
of energy and enable the transition to a lower-carbon world. Learn
more about Nabors and its energy technology leadership:
www.nabors.com.
Forward-looking Statements
The information included in this press release includes
forward-looking statements within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934. Such
forward-looking statements are subject to a number of risks and
uncertainties, as disclosed by Nabors from time to time in its
filings with the Securities and Exchange Commission. As a result of
these factors, Nabors' actual results may differ materially from
those indicated or implied by such forward-looking
statements. The forward-looking statements contained in this
press release reflect management's estimates and beliefs as of the
date of this press release. Nabors does not undertake to
update these forward-looking statements.
Non-GAAP Disclaimer
This press release may present certain "non-GAAP" financial
measures. The components of these non-GAAP measures are
computed by using amounts that are determined in accordance with
accounting principles generally accepted in the United States of America
("GAAP"). Adjusted operating income (loss) represents income
(loss) from continuing operations before income taxes, interest
expense, investment income (loss), and other, net. Adjusted EBITDA
is computed similarly, but also excludes depreciation and
amortization expenses. In addition, adjusted EBITDA and adjusted
operating income (loss) exclude certain cash expenses that the
Company is obligated to make. Net debt is calculated as total debt
minus the sum of cash, cash equivalents and short-term
investments.
Adjusted free cash flow represents net cash provided by
operating activities less cash used for capital expenditures, net
of proceeds from sales of assets. Management believes that
adjusted free cash flow is an important liquidity measure for the
company and that it is useful to investors and management as a
measure of the company's ability to generate cash flow, after
reinvesting in the company for future growth, that could be
available for paying down debt or other financing cash flows, such
as dividends to shareholders. Management believes that this
non-GAAP measure is useful information to investors when comparing
our cash flows with the cash flows of other companies.
Each of these non-GAAP measures has limitations and therefore
should not be used in isolation or as a substitute for the amounts
reported in accordance with GAAP. However, management evaluates the
performance of its operating segments and the consolidated Company
based on several criteria, including Adjusted EBITDA, adjusted
operating income (loss), net debt, and adjusted free cash flow,
because it believes that these financial measures accurately
reflect the Company's ongoing profitability and
performance. Securities analysts and investors also use these
measures as some of the metrics on which they analyze the Company's
performance. Other companies in this industry may compute these
measures differently. Reconciliations of consolidated adjusted
EBITDA and adjusted operating income (loss) to income (loss) from
continuing operations before income taxes, net debt to total debt,
and adjusted free cash flow to net cash provided by operations,
which are their nearest comparable GAAP financial measures, are
included in the tables at the end of this press release. We do
not provide a forward-looking reconciliation of our outlook for
Segment Adjusted EBITDA, Segment Gross Margin or Adjusted Free Cash
Flow, as the amount and significance of items required to develop
meaningful comparable GAAP financial measures cannot be estimated
at this time without unreasonable efforts. These special items
could be meaningful.
Investor Contacts: William C.
Conroy, CFA, Vice President of Corporate Development &
Investor Relations, +1 281-775-2423 or via e-mail
william.conroy@nabors.com, or Kara
Peak, Director of Corporate Development & Investor
Relations, +1 281-775-4954 or via email kara.peak@nabors.com. To
request investor materials, contact Nabors' corporate headquarters
in Hamilton, Bermuda at
+441-292-1510 or via e-mail mark.andrews@nabors.com
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SOURCE Nabors Industries Ltd.