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Nine Energy Service, Inc. provides oilfield completion and production services for unconventional oil and gas wells in North America and abroad. Its news commonly centers on quarterly operating results, revenue guidance, rig-count trends, pricing pressure across service lines and basin-level activity in areas such as the Permian, Eagle Ford, Haynesville, SCOOP/STACK, Bakken, Marcellus, Utica and Canada.
Company updates also cover completion tools, cementing work, technology development, international tools activity, revolving credit arrangements, at-the-market equity program disclosures, shareholder voting matters and governance changes tied to the company’s public-company reporting.
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Nine Energy Service (NYSE: NINE) has announced its first quarter 2023 earnings conference call set for May 9, 2023, at 9:00 am Central Time. During this call, the company will discuss financial and operational results for the quarter ending March 31, 2023, which are expected to be released prior to the conference call.
Participants can join the call by dialing U.S. Toll Free: (877) 524-8416, or International: (412) 902-1028. A telephonic replay will be available until May 23, 2023 by dialing U.S. Toll Free: (877) 660-6853.
Headquartered in Houston, Texas, Nine Energy Service offers oilfield completion solutions across North America, emphasizing customized solutions and technology to enhance efficiencies in the oil and gas sector.
Nine Energy Service (NYSE: NINE) announced its financial results for 2022, reporting revenues of $593.4 million, net income of $14.4 million, and adjusted EBITDA of $93.7 million. The fourth quarter delivered revenues of $166.7 million and a net income of $8.0 million. The company achieved a significant 70% year-over-year revenue growth and improved its ROIC to 16.3%. Notably, the gross profit rose from a loss in 2021 to $97.9 million in 2022, reflecting effective margin management amidst inflationary challenges. Looking ahead, Nine anticipates a declining Q1 due to operational disruptions and a reduced rig count, but maintains a focus on liquidity and debt reduction.
Nine Energy Service (NYSE: NINE) has announced the redemption of all outstanding 8.750% Senior Notes due 2023. This redemption is partially funded by a public offering of 300,000 units, each comprising $1,000 principal amount of 13.000% Senior Secured Notes due 2028 and five shares of common stock. The offering generated net proceeds of approximately $279.75 million. Additionally, Nine extended the maturity date of its asset-based revolving credit facility to January 29, 2027, enhancing its financial flexibility and cash flow generation for debt repayment.
Nine Energy Service (NYSE:NINE) has scheduled its Q4 and full year 2022 earnings conference call for March 8, 2023, at 9:00 AM Central Time. The financial and operating results for the period ending December 31, 2022 will be discussed, with the results expected to be published before the call. Interested participants can join the call by dialing the provided numbers. A telephonic replay will be available until March 22, 2023.
Nine Energy Service specializes in oilfield services, offering completion solutions across North America and beyond, emphasizing superior service quality and cutting-edge technology.