National Energy Services Reuni Stock Price, News & Analysis

National Energy Services Reunited Corp. (NESR) reported third-quarter 2021 results with revenue of $218 million, a decrease of 7% sequentially. The company achieved net income of $2 million and adjusted net income of $7 million, while diluted EPS stood at $0.02, down 75% year-over-year. Free cash flow reached $17 million, demonstrating strong liquidity. The company also refinanced its debt, enhancing financial flexibility with an expanded borrowing capacity of $860 million, including a green credit facility. Despite challenges from COVID-19, NESR aims to capitalize on growth in the MENA region.

National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) announced its third quarter 2021 financial results will be released on November 3, 2021, followed by an earnings conference call at 8:00 AM ET. Interested parties can join via U.S. toll-free at 1-877-407-0312 or internationally at 1-201-389-0899. Founded in 2017, NESR is a leading provider of integrated energy services across the MENA and Asia Pacific regions, employing over 5,000 professionals globally.

National Energy Services Reunited Corp. (NESR) has secured multiple contracts exceeding USD $150 million in several Drilling & Evaluation service lines across key Gulf Cooperation Council (GCC) countries. These multi-year contracts include services like Slickline, Tubular Running, and Testing with national oil companies. CEO Sherif Foda noted the MENA region's potential for a multi-year upcycle in oil production capacity. NESR aims to enhance its Evaluation services using advanced technologies and is committed to sustainability initiatives, including reducing flaring during operations.

NESR (NASDAQ:NESR, NESRW) has partnered with Ulterra Drilling Technologies to deploy PDC drill bits across the MENA and Asia regions. This collaboration aims to enhance drilling optimization and expand customer reach. John Clunan, CEO of Ulterra, emphasized the partnership's potential to increase sales and improve performance. Sherif Foda, CEO of NESR, highlighted the agreement as a key addition to their Drilling Services portfolio. Established in 2017, NESR is a major oilfield services provider in the MENA and Asia Pacific regions, offering comprehensive energy services.

National Energy Services Reunited Corp. (NASDAQ:NESR, NASDAQ:NESRW) announced its participation in the United Nations Global Compact, reinforcing its commitment to responsible business practices. This voluntary initiative aligns companies with ten principles covering human rights, labor, environment, and anti-corruption. With over 9,000 companies in 160 countries involved, NESR aims to embed these principles into its operations, enhancing governance and sustainability since its inception in 2017. The company, a prominent oilfield service provider, is dedicated to driving corporate responsibility forward.

Cactus, Inc. (NYSE: WHD) and National Energy Services Reunited Corp. (NASDAQ: NESR) have entered an agreement to provide and deploy Cactus frac rental equipment in the Middle East. This collaboration aims to leverage Cactus' innovative products and NESR's extensive market presence to enhance unconventional oil and gas development in the region. Cactus CEO Scott Bender expressed optimism about growth prospects, while NESR CEO Sherif Foda highlighted the significance of their partnership for delivering efficient services to customers. Both companies anticipate a significant value addition for their clients.

National Energy Services Reunited Corp. (NASDAQ:NESR, NASDAQ:NESRW) has entered into a collaboration with Cactus, Inc. (NYSE:WHD) to provide frac rental equipment in the Middle East. This partnership aims to leverage Cactus' technology and NESR's extensive market access, enhancing oil and gas operations in the region. Cactus' CEO emphasized potential growth in MENA's unconventional oil and gas development. NESR, with over 5,000 employees, aims to unlock reservoir potential through various integrated energy services, positioning itself for future growth.

National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) announced participation in several investor conferences scheduled for September 2021. The events include the NBF 9th Annual Energy Conference on September 1, Barclays CEO Energy-Power Conference on September 8 at 11:30 AM ET, and Peters & Co. Limited 25th Annual Energy Conference from September 14-16. NESR, a leading provider of integrated energy services in the MENA and Asia Pacific regions, aims to showcase its offerings in hydraulic fracturing, drilling services, and more through these platforms.

National Energy Services Reunited Corp. (NESR) reported 16% year-over-year revenue growth for Q2 2021, totaling $235 million. Free cash flow was $12 million, while net income reached $8 million. Adjusted EBITDA improved to $54 million, reflecting a 7% increase from the prior quarter. Diluted earnings per share (EPS) were $0.08, with adjusted EPS at $0.14 after accounting for charges. The company continues to enhance its operations with a successful integration of acquired services, solidifying its presence in Kuwait. Cash and cash equivalents stood at $66.1 million.