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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.
NCS Multistage Holdings, Inc. (NASDAQ: NCSM) reported its third quarter results for 2020, showing total revenues of $16.3 million, a notable 73% decrease year-over-year but an 87% increase from the previous quarter. The company experienced a net loss of $(5.9) million, translating to $(0.12) per diluted share. Adjusted EBITDA improved to $(2.1) million, up $5.8 million from Q2 2020. Cash on hand stood at $8.6 million against $6.0 million in total debt. A significant settlement with Diamondback Industries is expected to yield $15.5 million, pending court approval of a Chapter 11 plan. A reverse stock split was approved to comply with NASDAQ listing requirements.
NCS Multistage Holdings, Inc. (NASDAQ:NCSM) will host a conference call to discuss its third quarter 2020 results on November 5, 2020, at 7:30 a.m. CT. The earnings release will be issued on the evening prior. Participants can join by calling (844) 400-1696 (US) or (703) 736-7385 (international), using access code 1837259. An audio replay will be available for seven days following the call. NCS Multistage specializes in products and services for oil and gas well completions across North America and other selected international markets.
NCS Multistage Holdings reported total revenues of $8.7 million for Q2 2020, marking a 78% year-over-year decrease. The company experienced a net loss of $(8.8) million or $(0.19 per diluted share. Adjusted EBITDA was $(7.9) million. The drop in revenues stemmed from reduced product sales and service volumes in North America, compounded by lower pricing, heavily impacted by the COVID-19 pandemic. However, the company reported a cash position of $31.3 million and enacted cost-saving measures expected to save approximately $20 million annually, improving its financial outlook.
NCS Multistage Holdings will host a conference call on August 11, 2020, at 7:30 a.m. CT to discuss its second quarter 2020 results. The earnings release will precede the call on August 10. Participants can join via phone at (844) 400-1696 in the U.S. or (703) 736-7385 internationally, using access code 1249830. A live webcast will be available on the Company's website. An audio replay will be accessible for one week following the conference call. NCS is a provider of engineered products and support services for oil and gas well completions and operates in North America and select international markets.
NCS Multistage Holdings, Inc. (NASDAQ: NCSM) has successfully settled a patent infringement lawsuit against Innovex Downhole Solutions in the Western District of Texas. The lawsuit, concerning U.S. Patent No. 10,465,445 related to casing floatation technology, has been resolved with a patent license agreement between the two companies. CEO Robert Nipper emphasized the importance of protecting their substantial patent portfolio, reflecting the company's commitment to its proprietary technology. NCS provides engineered products and services for oil and gas completions across various international markets.
NCS Multistage Holdings, Inc. (NASDAQ: NCSM) has announced its participation in the 2020 J.P. Morgan Energy, Power & Renewables Conference, scheduled for June 17, 2020, at 4:20 p.m. Eastern time. CEO Robert Nipper and CFO Ryan Hummer will present at the event. The presentation will be accessible via webcast on the Company’s website and will remain available for approximately 90 days. NCS specializes in highly engineered products and services for optimizing oil and gas well completions, serving clients in North America and select international markets.
NCS Multistage Holdings, Inc. (NCSM) reported first quarter revenues of $54.6 million, reflecting a 3% year-over-year increase. However, the company faced a significant net loss of $(51.5) million, driven by impairment charges related to asset evaluations amid COVID-19 impacts. Adjusted EBITDA reached $9.2 million, with a 17% margin. The company's cash position improved to $15.5 million. NCS emphasized ongoing cost reduction initiatives to enhance liquidity and expects further declines in revenues due to the pandemic's effect on oil demand and prices.
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