Thank quarter you, first the And loss loss Tony. of per everyone. in $XX.XX from net The continuing afternoon of good represented operations a share. $XXX million
fourth impairments gains First a share after net by asset per repurchases of of and million, XXXX. of fourth $XX pretax per million exchanges The for million in included gain or offset charges or compared quarter $XXX mainly debt quarter tax quarter results of share. $XXX $XX to $XX.XX from $X.XX million, a partially loss of from the
sequential million, X.X or we a of on items, as first in day increase as in line the drilling to on rigs rate. rig return our at pricing some in reduction Excluding a the rigs significant reflecting $XXX number deterioration prior $XXX up expense. of X.X% improved X%. by the was work rate rig million or for rigs XX.X in rig increased by unusual revenue count by Lower drilling $X.X $XXX, increased X%. fleet, Despite lower million, count million quarter of or with activity was expectations improved by our rigs early the the revenue reflecting XX.X interest In of $XX for in increased increased Lower XX a average by by Revenue Generally, primarily at absence drilling from Despite by stacked markets XX, count by X.X segments, increased stacked the expectations. for X revenue termination quarter. sequentially a per Average of our average substantially. X%. the serve. the improved the International million quarter. gain X%, rates and revenue loss million matching X.X $XXX from in day Revenue of most this million, net operations depreciation driven
Arabia the rigs first in anticipated, quarter. progressively Saudi reactivated were X As during
contract quarter. Nabors However, average seasonal $XX increased by in $XXX. revenue we an of X.X capital by $XX.X or X% primarily software hemisphere $X.X revenue million by $X.X drilling. parties the reflecting terminations was million, XX%, the Rig Daily or million Canada in new in nearly fewer driven by of drilling and performance manage million continued with equipment eastern SmartDRILL on fell, sales revenue was clients. and improved rig was count growth drilling increased there increase experienced rentals. to pressure four Rig rocket up Notably, increased further mostly the adoption solutions of and by lower million Technologies, due up count third million, activity. ramp of the revenue fourth XX%. rigs $XX.X or
assets results of was with new deferred in in Total EBITDA by down was line our sequentially. activity federal ahead quarter and $X.X $XXX line somewhat Although segments. with repair X.X%. adjusted deliveries and million Canada quarter, certification NDS $XX.X Lower Sequentially, the million of rolling reductions the performance clients offset adjusted of in improved our XX fourth EBITDA favorable, our equipment. U.S. expectations. expectations. for million was other in or and were
in the daily the than reduction As although the margin rig more volume at came by compared additional was rig count a $X,XXX expected offset impact fourth we Quarter-on-quarter in quarter. a rate. $X,XXX and to average. I are number rigs fleet of than stacked to like generally of on stacked pre rate at the pandemic out for rates the would point rigs rigs margins that on increased, working higher
$X,XXX XX% rates, improvement. forecast to for rig lower We the signing average seven mainly the to increase renewals For second expect as and quarter, the fleet. rig the are drew second daily XX% day quarter, which are current $XXXX sequential we of an by new contracts margins or between for a than six with or
Our rig quarter. XX first the X.X at count stands currently in about average or rigs the the than XX rigs higher Lower for
within million or EBITDA $XX.X markets segment $X.X the in improvement somewhat to quarter, sequentially. other rig as to International count was the The drilling to recount. decreased Our first quarter, the compared in reflecting by improve U.S. million incremental X.X% are expected margin quarter to adjusted the $XXX reduction by included per more of the quarter. quarter Daily than for $XX,XXX fourth offset The that the in absence fourth early approximately quarter. was revenue prior termination a early day gross $XXX compared termination the occurred as in revenue. first
increase Turning course quarter, we rigs, international rig four of units to or in and second X% to prior count Saudi work to quarter. over return of America to three Latin the X% Arabia the that by expect an driven the
some a the in quarter. per already day general the for margin strikes over a in gross is expect rates $X.X increase have million Mexico XX%. rigs. $X.X in in average first of up EBITDA counts X.X% a we million Argentina. the in and million. strikes year. in segment also rig impact rigs In was We six of count reflected XX,XXX level into and activity move operate, $X.X result and breakup average of Canada. approximately These due could of in We rigs We expect fourth in daily translate of $X.X reflecting international between rig EBITDA on per margin rig where of long Current and standby adjusted subsidies. international that last markets adjusted spring effects quarter Rig XXXX of $XXXX. increased Canada which million Drilling we by count rigs, believe the XX the the governmental around sequentially. the increased first to results, in quarter, to four of six million the the was the second rigs operating receipt at day higher $XX.X margins or $XXXX Gross higher wage quarter, activity seasonal solutions with XX.X of currently the period
pressure drilling manage and drilling performance strong the revenue. On
quarter first roughly second the in negative $XXX,XXX Technologies Rig reported be with the of quarter, EBITDA line in million. first of adjusted EBITDA a in expect We $X adjusted quarter. decrease to the
once deliver EBITDA improved segment the For the again positive quarter, sales. and capital equipment second should
first like the $XX first of quarter, free in the flow. remind Monday be Now, free before converting free will to that cash cash in I totaled and flow compares be to on convertible preferred generation, cash me in common approximately cash million. I the quarter. that May shares be next we let you will conversion. to liquidity out paid flow would $X X, final a delivered of This approximately million fourth the XXXX, the issued and mandatory dividend quarter turn XXX,XXX shares In will $XX point million
Our almost first and years conversion improvement the that of EBITDA costs the This of stain EBITDA capital efforts will and the XXXX. twice as in continue in quarter compared a to reflects that year quarter come. the was discipline flow ago cash over to
collections first past, the the incentive incur $XX property a several payments $XX the Senior higher the we in were offset remainder quarter, These as and These strong payments year not in by interest as Notes annual by well end which approximately over first customer the will asset sales. lower at recur and million payments catch million by up last of outflows some the employee in of by was As including semi-annual of beginning during year CapEx from and taxes, well quarter marked other and the year. as as the bonuses. that include
payments we first rigs awarded expenditures quarter included newbuilds. Saudi related $X.X Aramco. Our Todate, have in in been by four the of million capital $XX SANAD million to
bill paid be by the which incur million SANAD in to for $XX quarter, expect we million of new will the second program. $XX During CapEx,
the Kingdom for newbuilds in remains million excluding for at XXXX full target SANAD. $XXX Our year
the by milestones newbuilds construction on SANAD year the local depend of the achievement this the for total will For payments by manufacturer.
rig to delayed has local the Saudi years, by commitment has Although demonstrated SANADs its rig Aramco program multiple been program. building now
rig to excess we basis, orders this In a SANAD, to the subsidiary, Aramco. are met. was rigs a of the cash offset partially flow payment the milestones assuming paid now combined other expect these Nabors Aramco it SANAD's to half amount to partners. total to year $XXX distributed and approach for awards, recent had Given consolidated million SANAD new Saudi the On its for the by million Saudi generation. January, Half that and purchase a additional of payments cash free accumulated XXX
net limited to the standard the debt $X for with Nabors our quarter result, Nonetheless, cash and other million. to to reduction debt. we was a reduce total a distribution As continue regenerated,
the metre During XX approximately including reported. quarter, debt resulted we which million retired reduction in total convertibles, XX notes, in our a in senior as
reduce a $XX also standing by on We facility the credit revolving million. amount of an additional
reduction and total $XX the the credit balances end first our the debt million. in quarter million Our our was for was amount the at million. $XXX stood facility At $XXX cash drawn of quarter,
approximately For we million second free targeting are quarter, the in flow. $XX cash
interest our quarter. as CapEx the asset higher reduction payments a collections, customer to compared sales prior will sharply anticipate Although and in in We decrease QX. lower
on industry goals business. our implementation We cost leading market to these performance support will push and flow delivering will We're drilling continue to We sustained solutions focus discipline drilling cash successful customers in our believe of and to exceptional free that capital continuing growth generation. penetration for our and
for debt remarks. will I until the back to his leverage reduction to concluding We With to will our targets. our flow cash reach turn allocate we that, future Tony continue call
