HAMILTON, Bermuda, Sept. 10,
2024 /PRNewswire/ -- Nabors Industries Ltd. ("Nabors"
or "the Company") (NYSE: NBR) today announced that William Restrepo, Chief Financial Officer, plans
to participate in Pareto Securities' 31st Annual Energy
Conference on September 11-12, 2024.
Mr. Restrepo will deliver a presentation on Nabors on September 11.
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.
