Nabors Industries Ltd. (NYSE:NBR) Q3 2023 Earnings Call Transcript October 26, 2023 2:00 PM ET

Company Participants

William Conroy - Vice President, Corporate Development & Investor Relations

Tony Petrello - Chairman, President & Chief Executive Officer

William Restrepo - Chief Financial Officer

Conference Call Participants

Derek Podhaizer - Barclays

Arun Jayaram - JPMorgan

John Daniel - Daniel Energy Partners

Dan Kutz - Morgan Stanley

Operator

Hello and welcome to the Q3 2023 Nabors Industries Limited Earnings Call. [Operator Instructions]. Please note today's event is being recorded.

I'll now turn the conference over to William Conroy, Vice President of Investor Relations. Please go ahead, sir.

William Conroy

Good afternoon everyone. Thank you for joining Nabors' third quarter 2023 earnings conference call. Today, we will follow our customary format with Tony Petrello, our Chairman, President, and Chief Executive Officer; and William Restrepo, our Chief Financial Officer, providing their perspectives on the quarter's results, along with insights into our markets and how we expect Nabors to perform in these markets.

In support of these remarks, a slide deck is available, both as a download within the webcast and in the Investor Relations section of nabors.com. Instructions for the replay of this call are posted on the website as well. With us today, in addition to Tony, William, and me, are other members of the senior management team.

Since much of our commentary today will include our forward expectations, they may constitute 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 certain risks and uncertainties as disclosed by Nabors from time-to-time in our filings with the Securities and Exchange Commission. As a result of these factors, our actual results may vary materially from those indicated or implied by such forward-looking statements.

Also, during the call, we may discuss certain non-GAAP financial measures such as net debt, adjusted operating income, adjusted EBITDA, and adjusted free cash flow. All references to EBITDA made by either Tony or William during their presentations, whether qualified by the word adjusted or otherwise, mean adjusted EBITDA as that term is defined on our website and in our earnings release.

Likewise, unless the context clearly indicates otherwise, references to cash flow mean adjusted free cash flow as that non-GAAP measure is defined in our earnings release. We have posted to the Investor Relations section of our website a reconciliation of these non-GAAP financial measures to the most recently comparable GAAP measures.