National Energy Services Reuni - NESR STOCK NEWS

National Energy Services Reunited Corp. (NESR) reported strong financial results for Q2 2024. Revenue grew 15.9% year-over-year to $325.0 million. Net income surged 870.3% to $18.9 million, with diluted EPS of $0.20. Adjusted EBITDA increased 30.2% to $78.7 million. The company's performance was driven by increased activity in Saudi Arabia and Kuwait. Operating cash flow for H1 2024 improved 55.1% to $112.3 million, while free cash flow rose 73.2% to $59.6 million. NESR's Net Debt to trailing Adjusted EBITDA ratio decreased to 1.13 as of June 30, 2024, reflecting improved financial health.

National Energy Services Reunited Corp. (NESR), a leading integrated energy services provider in the MENA region, has announced its financial results release for the first half of 2024, scheduled for August 29, 2024. A conference call will be held at 8:00 AM ET on the same day to discuss the results. The company has also outlined its participation in several upcoming investor conferences and industry events, including:

• Barclays CEO Energy-Power Conference (Sept 3-5, NYC)
• Pickering Energy Partners Conference (Sept 16-18, Austin)
• Gastech Exhibition & Conference (Sept 17-20, Houston)
• Future Investment Initiative (Oct 29-31, Riyadh)
• ADIPEC (Nov 4-7, Abu Dhabi)
• Bank of America Energy Conference (Nov 12-13, Houston)

National Energy Services Reunited (NESR) has announced the resignation of board member Thomas Wood, effective June 5, 2024. Mr. Wood will not be up for re-election at the 2024 Annual General Meeting. The company operates internationally in the Middle East and North Africa, providing integrated energy services. No specific reasons were given for Mr. Wood's resignation.

National Energy Services Reunited Corp. (NESR) reported impressive financial results for the full year 2023, showcasing significant growth in revenue, operating cash flow, net income, and adjusted EBITDA. The company's revenue of $1.146 billion marked a 26% year-over-year increase, with an operating cash flow of $177.0 million (91% improvement), and a net income of $12.6 million. Adjusted EBITDA stood at $262.3 million, highlighting the company's strong financial performance. Additionally, NESR's diluted EPS for 2023 was $0.13, with adjusted diluted EPS at $0.53, including $0.40 per share of Charges and Credits.

The company's CEO and CFO expressed confidence in NESR's position in the MENA region, emphasizing strategic investments and operational excellence that drove the record-breaking results in 2023. Looking ahead, NESR anticipates continued growth and success based on tight service capacity and market demand. In Q1 2024, the company generated $297 million in revenue, reflecting a 15% increase from the previous year. NESR's strong financial performance and strategic investments position it well for future growth and success in the energy services sector.

National Energy Services Reunited Corp. (NESR) announces the launch of key technologies at the International Petroleum Technology Conference in Saudi Arabia. The company introduced the Roya advanced drilling platform and the NESR Environmental & Decarbonization Applications segment, emphasizing their commitment to innovation and sustainability in the energy sector.

National Energy Services Reunited Corp. (NESR) announced the inauguration of its 'Carbon Light' oilfield brine plant in North Rumaila, Iraq, leveraging partner Clean TeQ's technology to substantially reduce water waste and carbon footprint. The plant aims to simplify logistics, eliminate trucking, improve water use, and minimize waste, with a 75% reduction in carbon footprint and a 90% reduction in water waste. The project is part of an existing brine supply agreement to support ROO operations in North Rumaila, with positive impacts on water use and freshwater resources in the region.

National Energy Services Reunited Corp. (NESR) has announced the inauguration of its flagship 'Carbon Light' oilfield brine plant in North Rumaila, Iraq. The project leverages Clean TeQ's ion filtration and reverse osmosis technology to substantially reduce water waste and carbon footprint associated with brine supply. The company estimates a 75% reduction in carbon footprint and a 90% reduction in water waste compared to conventional brine production.

National Energy Services Reunited Corp. (NESR) has uplisted its common shares and warrants from OTC Expert tier to OTC Current tier. The company's senior management team will participate in several upcoming investor conferences and industry events, including Goldman Sachs Energy, CleanTech & Utilities Conference, International Petroleum Technology Conference, Egypt Petroleum & Energy Show, and Tudor Pickering & Holt 'Hotter 'N Hell' Energy Conference, as well as J. P. Morgan Energy, Power & Renewables Conference.

National Energy Services Reunited Corp. (NESR) announced the filing of audited financial statements for the years ended December 31, 2022, December 31, 2021, and December 31, 2020 with the SEC. The company reported third quarter 2023 revenue of $300 million, a 6% increase sequentially and a 24% increase year-on-year. Stefan Angeli, CFO, expressed confidence in the company's strength and its position as the partner of choice in the MENA region.