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NCS Multistage Holdings, Inc. (NASDAQ: NCSM) is a global leader in providing highly engineered products and support services that optimize oil and natural gas well construction, completions, and field development strategies. The company's primary focus is on coiled-tubing-enabled hydraulic fracturing technology, known for its efficiency in multistage oil and gas well completions, especially in shale and other unconventional formations.
NCS’s flagship product, the patented Multistage Unlimited® frac-isolation system, allows operating companies to design and execute optimized completions with less onsite equipment, water, and personnel. This system has delivered over 7,700 successful multistage completions globally, including in North America, Mexico, South America, Australia, Russia, and China.
The company offers a wide range of products and services, primarily to exploration and production companies for use in onshore wells. Their fracturing systems facilitate pinpoint stimulation, a process that ensures each entry point is efficiently stimulated, enhancing production and recovery rates. NCS Multistage generates a significant portion of its revenue from the United States, with notable contributions from international markets.
In recent financial updates, NCS reported total revenues of $38.3 million for the quarter ending September 30, 2023, marking a 22% decrease compared to the same quarter the previous year, primarily due to lower sales in Canada and the U.S., as well as decreased international services revenues. Despite these challenges, the company saw revenue increases of 51% sequentially from the second quarter of 2023, driven by gains in Canada and international markets.
NCS’s gross profit for the third quarter of 2023 was $15.7 million, or 41% of total revenues, reflecting higher costs due to lower product sales volumes and inflationary pressures. Selling, general and administrative expenses saw a notable decrease to $12.7 million, primarily due to lower incentive bonus accruals and professional fees.
Net income for the quarter was $4.4 million, or $1.77 per diluted share, an improvement from the previous year, bolstered by favorable pricing and operational efficiencies. Despite lower revenues compared to the prior year, the company maintained a strong balance sheet with $11.4 million in cash and $8.3 million in total debt as of September 30, 2023. NCS continues to pursue strategic growth in international and offshore markets, focusing on innovative solutions and customer base expansion.
NCS Multistage remains committed to delivering economic, environmental, and safety benefits through its advanced hydraulic fracturing technologies, positioning itself as a pivotal player in the oil and gas sector.
NCS Multistage Holdings (NASDAQ: NCSM) reported strong financial results for Q3 2024, with total revenues reaching $44.0 million, marking a 15% increase year-over-year. The company's liquidity position strengthened to $37.0 million, up from $33.0 million in Q2 2024, significantly exceeding its debt of $8.6 million. The company also achieved an adjusted EBITDA of $7.1 million, representing a $0.3 million improvement compared to the previous year.
NCS Multistage Holdings reported Q3 2024 results with total revenues of $44.0 million, marking a 15% year-over-year increase. The company achieved net income of $4.1 million and diluted EPS of $1.60. Revenue growth was driven by increases in international services, U.S. product sales, and Canadian operations. Adjusted EBITDA reached $7.1 million with a 16% margin. The company maintained strong liquidity with $15.3 million in cash and $8.6 million in total debt as of September 30, 2024. Operating cash flow was $2.1 million for the first nine months of 2024.
NCS Multistage Holdings (NASDAQ:NCSM) has announced its upcoming third quarter 2024 earnings conference call, scheduled for Thursday, October 31, 2024, at 7:30 a.m. Central Time. The company will release its Q3 2024 earnings report the evening before the call. NCS Multistage is a provider of engineered products and support services for oil and natural gas well construction and field development, operating primarily in North America with presence in international markets including the North Sea, Middle East, Argentina, and China.
NCS Multistage Holdings (NCSM) reported Q2 2024 results with total revenues of $29.7 million, a 17% year-over-year increase. The company posted a net loss of $(3.1) million and loss per share of $(1.21). Adjusted EBITDA improved to $0.9 million, up $3.2 million from Q2 2023. Cash flows from operating activities reached $4.1 million for H1 2024, with free cash flow less distributions to non-controlling interest improving to $3.2 million.
The revenue growth was driven by increased international and U.S. revenues, partially offset by a decrease in Canada. Gross margin improved to 38% due to higher-margin international work and increased U.S. activity. The company ended Q2 2024 with $18.6 million in cash and $8.9 million in total debt.
NCS Multistage Holdings, Inc. (NASDAQ:NCSM) has announced its schedule for the second quarter 2024 earnings release and conference call. The company will host a conference call on Thursday, August 1, 2024, at 7:30 a.m. Central Time to discuss its Q2 2024 results. The earnings release will be issued the evening before the call.
Participants can join the live audio webcast and those wishing to ask questions can register to receive dial-in numbers and a unique PIN. A listen-only webcast option is also available. The replay will be accessible in the Investors section of the company's website for approximately seven days after the call.
NCS Multistage Holdings is a leading provider of engineered products and support services for oil and natural gas well construction and field development strategies, serving exploration and production companies in North America and international markets.
NCS Multistage Holdings, Inc. (NCSM) is being covered by Stonegate Capital Partners, showing growth exceeding market expectations, expanding internationally, and experiencing a 24.8% year-over-year growth in adjusted EBITDA.
NCS Multistage Holdings, Inc. will present at the Sidoti Virtual Investor Conference on May 8, 2024. The CEO, Ryan Hummer, will discuss the company's products and services for oil and natural gas well construction. NCS offers engineered products to exploration and production companies in North America and international markets. The company's common stock trades on the Nasdaq Capital Market under the symbol 'NCSM'.
NCS Multistage Holdings, Inc. announced that CEO Ryan Hummer will present at the Emerging Growth Conference on May 8, 2024. The company is a key player in providing engineered products for oil and gas well construction. NCS operates in North America and international markets such as the North Sea, the Middle East, Argentina, and China. Their stock is traded on Nasdaq under the symbol NCSM.
NCS Multistage Holdings, Inc. announced first quarter 2024 results with total revenues of $43.9 million, a 1% year-over-year increase and a 24% sequential increase. The net income was $2.1 million with earnings per diluted share of $0.82. Adjusted net income was $2.5 million, and adjusted EBITDA increased to $6.1 million. The company had $14.0 million in cash and $8.9 million in total debt as of March 31, 2024.
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