Nabors Industries (NBR) shares plummeted 5.12% in Thursday's pre-market session following the company's disappointing Q4 2024 earnings report.
The oil and gas drilling contractor reported an adjusted loss per share of $(6.67), widely missing analyst estimates of $(1.71). Revenue for the quarter came in at $738.647 million, slightly below the consensus estimate of $739.992 million.
The significant earnings miss, driven by higher costs and operational challenges, seems to be the primary driver behind the stock's sharp decline. Investors were clearly disappointed by Nabors' larger-than-expected quarterly losses, sparking a selloff in the pre-market trading session.
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