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 (NYSE: NINE) has regained compliance with NYSE listing standards as of September 9, 2022, after addressing previous noncompliance related to low market capitalization and shareholders’ equity. The NYSE confirmed that Nine met the minimum requirements over the last two quarters. Following this achievement, the compliance indicator '.BC' has been removed from its shares, and the company will undergo a 12-month review period to ensure ongoing compliance. This marks a significant turnaround for Nine, which faced potential delisting earlier this year.
Nine Energy Service reported a strong second quarter for 2022, achieving revenues of $142.3 million and a net loss of $(1.0) million. The adjusted EBITDA stood at $18.9 million, with an ROIC of 11.4%. Revenues increased approximately 22% quarter-over-quarter, outperforming the forecast range of $130.0 to $140.0 million. Notable growth was seen in the cementing service line, which grew 22%, and coiled tubing revenue increased by 28%. The company maintains a total liquidity position of $74.5 million as of June 30, 2022.
Nine Energy Service (NYSE:NINE) has scheduled its second quarter 2022 earnings conference call for August 4, 2022, at 9:00 am Central Time. The call will discuss financial and operating results for the quarter ending June 30, 2022, which will be released prior to the call. Participants can join by dialing (888) 437-3179 (U.S. Toll Free) or (404) 267-0369 (International). A replay will be available until August 18, 2022. Nine Energy Service focuses on completion solutions in North America, leveraging technology and superior service quality.
Nine Energy Service reported first quarter 2022 revenues of $116.9 million, up 11% from the previous quarter. The company experienced a net loss of $(6.9) million, with an adjusted EBITDA of $12.2 million. Increased market activity led to a 31% rise in cementing revenue. Nine’s liquidity position stood at $74.6 million. The outlook remains positive for 2022, driven by equipment and labor constraints, with expectations for sequential revenue growth in Q2. The company is optimistic about the dissolvable plug technology and overall service line growth.
Nine Energy Service, Inc. (NYSE:NINE) has scheduled its first quarter 2022 earnings conference call for May 5, 2022, at 9:00 am Central Time. The financial and operational results for the quarter ending March 31, 2022 will be discussed, with results expected to be released before the call. Participants can join the call by dialing (877) 524-8416 (U.S. Toll Free) or (412) 902-1028 (International). A replay will be available until May 19, 2022, via (877) 660-6853 (U.S. Toll Free).
Nine Energy Service, Inc. (NINE) reported a fourth quarter 2021 revenue of $105.1 million, exceeding its guidance and representing a 13% sequential increase. The net loss stood at $(15.7) million, with an adjusted EBITDA of $4.6 million. For the full year, the company recorded revenues of $349.4 million and a net loss of $(64.6) million. The company noted a growing market share, particularly in cementing services, and anticipates a 20% increase in North American capital spending for 2022. Total liquidity as of December 31, 2021, was $64.7 million.
Nine Energy Service, Inc. (NYSE:NINE) will host its fourth quarter and full year 2021 earnings conference call on Tuesday, March 8, 2022, at 9:00 am Central Time. The financial results for the quarter ending December 31, 2021, are set to be released before the call. Participants can join the call by dialing (877) 524-8416 (U.S. Toll Free) or (412) 902-1028 (International). A replay will be available until March 22, 2022. Nine Energy Service, based in Houston, Texas, specializes in oilfield services across North America.
On January 21, 2022, a jury in Texas found that Nine Energy Service infringed on a patent held by NCS Multistage Holdings, awarding damages of less than
Nine Energy Service, Inc. (NYSE: NINE) announced it received a notice from the NYSE on January 5, 2022, regarding non-compliance with listing standards due to its average market capitalization and stockholders’ equity falling below $50 million. The Company has 45 days to submit a business plan demonstrating compliance within 18 months. The notice does not impact the stock's trading status or business operations. If the plan is accepted, Nine will be monitored for compliance; otherwise, it faces delisting procedures.
Nine Energy Service reported a total liquidity of $85.4 million as of September 30, 2021. For Q3 2021, revenue was $92.9 million, with a net loss of $(16.1) million and a basic loss per share of $(0.53). Adjusted EBITDA was $4.5 million. Although revenue increased approximately 9% from the previous quarter, it fell short of guidance due to labor constraints in the Permian Basin. All service lines showed sequential growth, particularly in Completion Tool and Coiled Tubing services.
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