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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, Inc. (NCSM) reported first quarter 2022 revenues of $39.1 million, marking a 37% increase year-over-year and 8% sequentially. The net loss improved to $(1.5) million, from $(3.4) million in Q1 2021. Adjusted EBITDA hit $2.3 million, a significant increase from $0.1 million a year prior. As of March 31, 2022, NCSM held $15.5 million in cash and $8.0 million in total debt. The company acknowledges challenges due to inflation and decreasing activity in some markets but remains optimistic about future growth in 2022.
NCS Multistage Holdings, Inc. (NASDAQ: NCSM) will host a conference call on May 6, 2022, at 7:30 a.m. CT to discuss its first quarter 2022 results. The earnings release will be available the evening prior. Interested participants can join the call by dialing (866) 374-5140 in the U.S. or (404) 400-0571 internationally, with the access code 40658981#. A live webcast will also be accessible via the company's website. NCS provides engineered products and services for oil and gas well optimization across North America and selected international markets.
NCS Multistage Holdings, Inc. (NCSM) reported fourth quarter 2021 revenues of $36.1 million, reflecting a 32% year-over-year increase. Net income for the quarter was $1.7 million with earnings per diluted share of $0.68, down from $8.6 million in Q4 2020. Adjusted EBITDA improved to $6.5 million. For the full year, total revenues reached $118.5 million, an 11% increase from 2020, and the net loss narrowed to $(4.7) million. The company ended 2021 with $22.2 million in cash and $7.8 million in total debt, positioning itself for future growth.
NCS Multistage Holdings, Inc. (NASDAQ:NCSM) will hold a conference call on March 8, 2022, at 7:30 a.m. CT (8:30 a.m. ET) to discuss its fourth quarter and full year 2021 results. The earnings release will be issued the evening before. Participants can join the call by dialing (844) 400-1696 in the U.S. or (703) 736-7385 internationally, using access code 6083399. An audio replay will be available for seven days post-conference. NCS Multistage is a leader in oil and gas well completion services across North America and select international markets.
NCS Multistage Holdings announced a significant legal victory against Nine Energy Service, as a jury found that Nine's BreakThru casing flotation device infringed on NCS's patent (U.S. Patent No. 10,465,445). The jury awarded NCS approximately $486,000 in damages, covering the infringement period from the patent issue date, November 5, 2019, to the trial conclusion. CEO Robert Nipper emphasized the importance of protecting innovations and the value of their technology portfolio, which comprises over 100 patents. This ruling highlights NCS's commitment to advancing efficiency and environmental responsibility in the oil and gas sector.
NCS Multistage Holdings reported third-quarter revenues of $32.4 million, a 99% increase year-over-year and a 51% rise from the prior quarter. The company achieved a net income of $2.8 million, recovering from a net loss of $(5.9) million in Q3 2020. Adjusted EBITDA reached $4.2 million, showing substantial growth. As of September 30, 2021, NCS held $18.4 million in cash against $8.2 million in total debt, indicating strong liquidity. CEO Robert Nipper highlighted significant operational performance in Canada, contributing to overall results, and projected continued industry activity moving forward.
NCS Multistage Holdings, Inc. (NASDAQ:NCSM) will host a conference call on November 2, 2021, at 7:30 a.m. CT to discuss its third-quarter 2021 results. The earnings release will be issued the evening prior. Participants can join the call via phone or a live webcast on the company’s website. An audio replay will be available for seven days post-call. NCS specializes in engineered products and support services for oil and natural gas well completions across North America and selected international markets.
NCS Multistage Holdings (NASDAQ:NCSM) will participate in EnerCom's The Oil & Gas Conference in Denver on August 18, 2021, with CEO Robert Nipper and CFO Ryan Hummer presenting at 8:25 a.m. Mountain time.
A webcast of the presentation will be available on the Company’s website for 90 days post-event. NCS is a leading provider of engineered products for optimizing oil and gas well completions, serving markets in North America, Argentina, China, the Middle East, and the North Sea. For more details, visit www.ncsmultistage.com.
NCS Multistage Holdings, Inc. (NASDAQ: NCSM) reported a 146% increase in total revenues for Q2 2021, totaling $21.5 million. This growth stemmed from heightened product sales and service volumes, primarily in North America. However, the company also posted a net loss of $(5.8) million, an improvement from $(8.8) million in Q2 2020. Adjusted EBITDA showed a significant improvement with a loss of $(1.6) million. As of June 30, 2021, NCS had $13.9 million in cash and a total debt of $6.0 million. The outlook remains positive with expected revenue growth driven by increased drilling activity.
NCS Multistage Holdings, Inc. (NASDAQ:NCSM) will host a conference call on August 3, 2021, at 7:30 a.m. CT to discuss its Q2 2021 results. The earnings release will be issued the previous evening. Interested participants can join by calling specific numbers based on their location or via a live webcast on the company’s website. An audio replay will be available shortly after the call for seven days. NCS specializes in products and support services for optimizing oil and natural gas well completions in North America and select international markets.
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