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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.
Nine Energy Service reported strong Q3 2022 results with revenues of $167.4 million, net income of $14.3 million, and adjusted EBITDA of $32.6 million. The company exceeded its revenue guidance of $145.0-$155.0 million, reflecting an 18% quarter-over-quarter increase. Strong performance was driven by price increases and higher volumes in completion tools. Nine aims to de-lever its balance sheet, having repurchased $92.7 million in senior notes. The company holds a total liquidity position of $88.2 million and forecasts stable revenue for Q4 2022.
Nine Energy Service (NYSE:NINE) has announced its third quarter 2022 earnings conference call scheduled for November 7, 2022, at 9:00 am Central Time. The company will discuss its financial and operating results for the quarter ended September 30, 2022, which will be released before the call. Participants can join by dialing U.S. Toll Free: (877) 524-8416 or International: (412) 902-1028. A telephonic replay will be available until November 21, 2022.
Headquartered in Houston, Texas, Nine Energy Service specializes in oilfield services, providing completion solutions across North America.
Nine Energy Service (NYSE: NINE) has regained compliance with NYSE listing standards as of September 9, 2022, after addressing previous noncompliance related to low market capitalization and shareholders’ equity. The NYSE confirmed that Nine met the minimum requirements over the last two quarters. Following this achievement, the compliance indicator '.BC' has been removed from its shares, and the company will undergo a 12-month review period to ensure ongoing compliance. This marks a significant turnaround for Nine, which faced potential delisting earlier this year.
Nine Energy Service reported a strong second quarter for 2022, achieving revenues of $142.3 million and a net loss of $(1.0) million. The adjusted EBITDA stood at $18.9 million, with an ROIC of 11.4%. Revenues increased approximately 22% quarter-over-quarter, outperforming the forecast range of $130.0 to $140.0 million. Notable growth was seen in the cementing service line, which grew 22%, and coiled tubing revenue increased by 28%. The company maintains a total liquidity position of $74.5 million as of June 30, 2022.
Nine Energy Service (NYSE:NINE) has scheduled its second quarter 2022 earnings conference call for August 4, 2022, at 9:00 am Central Time. The call will discuss financial and operating results for the quarter ending June 30, 2022, which will be released prior to the call. Participants can join by dialing (888) 437-3179 (U.S. Toll Free) or (404) 267-0369 (International). A replay will be available until August 18, 2022. Nine Energy Service focuses on completion solutions in North America, leveraging technology and superior service quality.
Nine Energy Service reported first quarter 2022 revenues of $116.9 million, up 11% from the previous quarter. The company experienced a net loss of $(6.9) million, with an adjusted EBITDA of $12.2 million. Increased market activity led to a 31% rise in cementing revenue. Nine’s liquidity position stood at $74.6 million. The outlook remains positive for 2022, driven by equipment and labor constraints, with expectations for sequential revenue growth in Q2. The company is optimistic about the dissolvable plug technology and overall service line growth.
Nine Energy Service, Inc. (NYSE:NINE) has scheduled its first quarter 2022 earnings conference call for May 5, 2022, at 9:00 am Central Time. The financial and operational results for the quarter ending March 31, 2022 will be discussed, with results expected to be released before the call. Participants can join the call by dialing (877) 524-8416 (U.S. Toll Free) or (412) 902-1028 (International). A replay will be available until May 19, 2022, via (877) 660-6853 (U.S. Toll Free).
Nine Energy Service, Inc. (NINE) reported a fourth quarter 2021 revenue of $105.1 million, exceeding its guidance and representing a 13% sequential increase. The net loss stood at $(15.7) million, with an adjusted EBITDA of $4.6 million. For the full year, the company recorded revenues of $349.4 million and a net loss of $(64.6) million. The company noted a growing market share, particularly in cementing services, and anticipates a 20% increase in North American capital spending for 2022. Total liquidity as of December 31, 2021, was $64.7 million.
Nine Energy Service, Inc. (NYSE:NINE) will host its fourth quarter and full year 2021 earnings conference call on Tuesday, March 8, 2022, at 9:00 am Central Time. The financial results for the quarter ending December 31, 2021, are set to be released before the call. Participants can join the call by dialing (877) 524-8416 (U.S. Toll Free) or (412) 902-1028 (International). A replay will be available until March 22, 2022. Nine Energy Service, based in Houston, Texas, specializes in oilfield services across North America.
On January 21, 2022, a jury in Texas found that Nine Energy Service infringed on a patent held by NCS Multistage Holdings, awarding damages of less than $500,000. Nine strongly disputes this verdict, claiming the patent is invalid and intends to appeal the decision. The disputed technology, the BreakThru™ Casing Flotation Device, was acquired by Nine in November 2018. CEO Ann Fox emphasized the company's commitment to defending its technology as a core part of its strategy.