Nabors Industries (NYSE: NBR) reported earnings on April 23. Here are the numbers you need to know.

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

Compared to the prior-year quarter, revenue contracted. GAAP earnings per share shrank significantly.

Gross margins grew, operating margins contracted, net margins shrank.

Revenue details
 Nabors Industries booked revenue of $1.58 billion. The 17 analysts polled by S&P Capital IQ predicted sales of $1.63 billion on the same basis. GAAP reported sales were 12% lower than the prior-year quarter's $1.89 billion.

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

EPS details
 EPS came in at $0.34. The 26 earnings estimates compiled by S&P Capital IQ forecast $0.28 per share. GAAP EPS of $0.34 for Q1 were 26% lower than the prior-year quarter's $0.46 per share. (The prior-year quarter included -$0.03 per share in earnings from discontinued operations.)

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 38.2%, 90 basis points better than the prior-year quarter. Operating margin was 13.8%, 320 basis points worse than the prior-year quarter. Net margin was 6.0%, 110 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $1.55 billion. On the bottom line, the average EPS estimate is $0.20.

Next year's average estimate for revenue is $6.55 billion. The average EPS estimate is $1.14.

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 $18.42.

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