Welcome to our dedicated page for Nine Energy Service news (Ticker: NINE), a resource for investors and traders seeking the latest updates and insights on Nine Energy Service stock.
Nine Energy Service, Inc. (symbol: NINE) is a leading North American provider of onshore completion and production services targeting unconventional oil and gas resource development. The company's expertise spans across major North American basins, delivering custom solutions that cater to both conventional and unconventional completions.
Operating primarily in the Completion Solutions segment, Nine Energy Service offers a comprehensive array of services including:
- Cementing services
- Completion tools such as liner hangers and accessories, frac sleeves, fully composite frac plugs, specialty open hole float equipment, and centralizers
- Wireline services
With its robust operations in the U.S., Canada, and other international locations, the company generates the majority of its revenue from the United States.
Recent achievements include advancements in completion tools technology and the expansion of its service portfolio. The company prides itself on a culture of hard work, innovation, and shared success with clients, making it a preferred partner in the energy sector.
Nine Energy Service reported Q3 2024 financial results with revenue of $138.2 million, representing a ~4% increase quarter-over-quarter despite a ~3% decline in US rig count. The company posted a net loss of $(10.1) million, which improved by ~28% sequentially, and adjusted EBITDA of $14.3 million, up ~47% quarter-over-quarter. Cementing revenue increased by ~12%, driven by market share gains across operating basins. Total liquidity position stood at $43.3 million as of September 30, 2024. The company expects Q4 revenue and profitability to decrease due to budget exhaustion, weather, holiday slowdowns, and lower international tool sales.
Nine Energy Service (NYSE: NINE) has received a notice from the NYSE on October 21, 2024, indicating non-compliance with continued listing standards. The company's average global market capitalization over 30 trading days and stockholders' equity were both below the required $50 million threshold. Nine has 45 days to submit a business plan demonstrating how it will regain compliance within 18 months. The NYSE Committee will review the plan, and if accepted, the company will undergo quarterly reviews. If rejected, Nine could face delisting. Currently, the stock continues trading on NYSE, and operations remain unaffected.
Nine Energy Service (NYSE: NINE) has announced the timing of its third quarter 2024 earnings release and conference call. The company will discuss its financial and operating results for the quarter ended September 30, 2024, on Friday, November 1, 2024, at 9:00 am Central Time. The earnings release is expected to be issued prior to the call.
Participants can join the live conference call by dialing U.S. (Toll Free): (877) 524-8416 or International: (412) 902-1028 and asking for the "Nine Energy Service Earnings Call". A telephonic replay will be available through November 15, 2024, accessible by dialing U.S. (Toll Free): (877) 660-6853 or International: (201) 612-7415 with passcode 13746652.
Nine Energy Service (NYSE: NINE) reported Q2 2024 results with revenue of $132.4 million, net loss of $14.0 million, and adjusted EBITDA of $9.7 million. The company faced challenges due to declining US rig count, with over 40 rigs exiting the market since the end of 2023. Key highlights include:
- Total liquidity of $50.8 million as of June 30, 2024
- Updated 2024 full-year capex guidance reduced to $10 - $15 million
- Surpassed 300 total refrac jobs run to-date
- Q3 revenue and profitability expected to be relatively flat compared to Q2
- Sold 4.2 million shares of common stock, generating $6.8 million in net proceeds
The company remains positive on medium and long-term outlook for gas markets, despite current challenges in natural gas prices and market activity.
Nine Energy Service (NYSE: NINE) has announced the timing for its second quarter 2024 earnings release and conference call. The earnings call is scheduled for Tuesday, August 6, 2024, at 9:00 am Central Time. The company will discuss its financial and operational results for the quarter ended June 30, 2024. Investors can join the call by dialing U.S. (Toll-Free) (877) 524-8416 or International (412) 902-1028 and requesting the 'Nine Energy Service Earnings Call'. A replay of the call will be available until August 20, 2024, by dialing U.S. (Toll-Free) (877) 660-6853 or International (201) 612-7415 and entering passcode 13744473.
Nine Energy Service, Inc. (NYSE: NINE) reported first quarter 2024 revenues of $142.1 million, with a net loss of $(8.1) million. Despite a flat US rig count, the company saw an increase in gross profit in Q1 versus Q4. Additionally, they surpassed 60,000 Stinger™ Dissolvable Plug units sold. The company remains positive on the medium and long-term outlook for natural gas markets, despite challenges in natural-gas levered basins. Nine's strategy focuses on diversifying revenue streams and maintaining an asset-light business model with innovative technology and exceptional service.
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