Nesco Holdings (NYSE: NSCO) reported Q2 2020 revenue of $68.5 million, a 9.0% increase year-over-year. Adjusted EBITDA fell to $26.2 million, a 14.1% decline, primarily due to lower utilization and higher SG&A expenses. The company incurred a net loss of $13.2 million, up from $5.4 million in Q2 2019. Despite COVID-19 project delays, Nesco's free cash flow improved to $14.4 million. The company's liquidity stands at $83.6 million, with no near-term debt maturities. Outlook for full-year guidance withdrawn due to pandemic uncertainty; net capital expenditures projected between $35-$40 million.
Nesco Holdings, Inc. (NYSE: NSCO) will release its second quarter 2020 financial results on August 6, 2020, before market opening. A conference call is scheduled for 8:30 A.M. ET the same day to discuss the results. As a leading provider in the specialty rental equipment sector for electric utility, telecom, and rail markets, Nesco boasts a fleet of approximately 4,600 units. Investors can access the conference call via domestic and international lines. Further details are available on the company's investor relations website.