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NCS Multistage Holdings, Inc. provides engineered products and support services for oil and natural gas well construction, well completions and field development. Its products and services are used by exploration and production companies in onshore and offshore wells, including horizontal wells in unconventional and conventional formations.
Company news commonly covers quarterly results, North American and selected international activity, fracturing systems, wellbore construction products, tracer diagnostics, Repeat Precision adoption, and ResMetrics integration. Updates also discuss regional demand in Canada, the United States, the North Sea, the Middle East and Argentina, as well as cash flow, liquidity, capital allocation and product development such as composite and dissolvable frac plugs.
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NCS Multistage Holdings, Inc. (Nasdaq: NCSM) reported revenues of $40.2 million for Q4 2022, an 11% year-over-year increase. Net income rose to $2.0 million, up from $1.7 million in Q4 2021, leading to earnings per diluted share of $0.81. For the full year, revenues reached $155.6 million, a 31% increase, while the net loss improved to $(1.1) million from $(4.7) million in 2021. Adjusted EBITDA for the year was $15.1 million, a 66% increase. The company ended 2022 with $16.2 million in cash and $7.9 million in debt, maintaining a solid liquidity position.
NCS Multistage Holdings, Inc. (NCSM) will announce its fourth quarter and full year 2022 results during a conference call on March 7, 2023, at 7:30 a.m. CT. The earnings release will be issued the evening prior. NCS specializes in providing highly engineered products and services that optimize oil and gas well construction and completions, primarily for exploration and production firms. The company operates in major oil and gas regions across North America and select international markets like Argentina and the Middle East.
NCS Multistage Holdings, Inc. (Nasdaq: NCSM) reported a strong third quarter 2022 with total revenues of $48.9 million, marking a 51% year-over-year increase. Net income rose to $3.9 million from $2.8 million, equating to earnings per diluted share of $1.58. Adjusted EBITDA improved to $8.4 million, up from $4.2 million in Q3 2021. The increase was driven by higher product sales, particularly in Canada, despite challenges like increased costs and no international product sales. NCS maintained a net cash position of $2.0 million as of September 30, 2022.
NCS Multistage Holdings, Inc. (NASDAQ:NCSM) has announced a conference call scheduled for November 1, 2022, at 7:30 a.m. CT to discuss its third quarter 2022 results. The earnings release will be available the evening prior. This call aims to provide insights into the company's financial performance, facilitating discussions and questions from participants. NCS Multistage specializes in engineered products and support services for oil and natural gas well optimization across various international markets.
NCS Multistage Holdings, Inc. (Nasdaq: NCSM) announced management changes effective November 1 and 3, 2022. Ryan Hummer transitions from Chief Financial Officer to Chief Executive Officer, while Michael Morrison will assume the CFO role. Morrison, previously CFO at ION Geophysical Corporation, expressed optimism about NCS's growth potential, citing its talented workforce and strong technology. Hummer emphasized Morrison's expertise will enhance NCS's leadership and drive operational excellence.