Nabors Industries (NYSE: NBR) reported earnings on April 24. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Nabors Industries beat expectations on revenue and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share improved significantly.

Gross margin dropped, operating margin expanded, and net margin increased.

Revenue details
Nabors Industries booked revenue of $1.84 billion. The 17 analysts polled by S&P Capital IQ anticipated revenue of $1.80 billion on the same basis. GAAP reported sales were 33% higher than the prior-year quarter's $1.38 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Non-GAAP EPS came in at $0.65. The 24 earnings estimates compiled by S&P Capital IQ forecast $0.50 per share on the same basis. GAAP EPS of $0.46 for Q1 were 64% higher than the prior-year quarter's $0.28 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 35.7%, 220 basis points worse than the prior-year quarter. Operating margin was 14.8%, 210 basis points better than the prior-year quarter. Net margin was 7.3%, 130 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.77 billion. On the bottom line, the average EPS estimate is $0.47.

Next year's average estimate for revenue is $7.43 billion. The average EPS estimate is $2.17.

Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Nabors Industries is outperform, with an average price target of $27.00.

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