USWS - USWS STOCK NEWS

U.S. Well Services, Inc. (NASDAQ: USWS) is scheduled to release its financial and operating results for the full year and fourth quarter of 2020 after the market closes on March 10, 2021. An earnings conference call will be held on March 11, 2021, at 10:00 a.m. Central Time. The call will provide insight into U.S. Well Services' performance, including updates on its innovative electric frac technology, which aims to enhance operational efficiency and reduce emissions. Further details can be accessed via their Investor Relations webpage.

U.S. Well Services, Inc. (Nasdaq: USWS) announced on February 22, 2021, that it has regained compliance with Nasdaq's Minimum Bid Price Rule. The Nasdaq Hearings Panel confirmed the Company meets other listing requirements, allowing its securities to continue trading on the exchange. However, a monitoring period has been established until August 23, 2021, during which the Company must notify Nasdaq of any closing bid price below $1.00 and any compliance issues with other requirements. Failure to maintain compliance could lead to further hearings.

U.S. Well Services, Inc. (Nasdaq: USWS) has received an extension from the Nasdaq Hearings Panel to comply with the Minimum Bid Price Rule until June 7, 2021. The company must demonstrate a closing bid price of at least $1.00 per share for ten consecutive business days. As of February 16, 2021, USWS achieved this for seven consecutive days. Previously, Nasdaq staff had determined to delist USWS due to non-compliance, but the appeal for continued listing was accepted. CEO Joel Broussard expressed optimism about regaining compliance during the extension period.

U.S. Well Services, Inc. (Nasdaq: USWS) announced it has regained compliance with Nasdaq Listing Rule 5550(b)(2), a requirement related to market value of listed securities. Previously, the company was notified of non-compliance on August 14, 2020, but has now resolved this issue. However, it remains non-compliant with the Minimum Bid Price Requirement under Rule 5550(a)(2) and plans to present a compliance plan at an upcoming Nasdaq Hearings Panel. U.S. Well Services specializes in hydraulic fracturing and has developed a patented electric frac technology that offers efficiency and reduced emissions.

U.S. Well Services (Nasdaq: USWS) announced the execution of two contracts with EQT Corporation (NYSE: EQT) to expand its electric fracturing services. These agreements extend the current contract for one electric frac fleet and introduce a second fleet on a contracted basis, potentially leading to multi-year dedications if all options are taken. This move highlights EQT's commitment to utilizing U.S. Well Services’ Clean Fleet® technology, which enhances operational efficiency and reduces emissions compared to traditional diesel fleets.

U.S. Well Services (Nasdaq: USWS) announced an extension of its contract to provide electric hydraulic fracturing services for Range Resources Corp (NYSE: RRC) in the Appalachian Basin.

This partnership aims to enhance Range's development strategy while minimizing emissions, noise, and fuel consumption. U.S. Well Services' innovative Clean Fleet® technology supports this initiative, promising operational efficiencies and reduced customer fuel costs compared to traditional diesel fleets. Both companies are committed to advancing environmental goals, including achieving net-zero greenhouse gas emissions.

U.S. Well Services (NASDAQ: USWS) reported its Q3 2020 results, showcasing a revenue increase of 11% to $44.0 million from $39.8 million in Q2 2020. Average fully-utilized fleets rose to 4.2, up from 3.4. The net loss narrowed to $15.9 million, compared to $18.1 million in Q2. Adjusted EBITDA fell 7% to $7.9 million, with a decrease in EBITDA margin to 18%. Despite challenges due to COVID-19 and oil market volatility, the company maintained five active fleets and emphasized growth in electric fracturing technologies.

U.S. Well Services, Inc. (NASDAQ: USWS) will release its third quarter 2020 financial results on November 5, 2020, after market close. An earnings conference call is scheduled for November 6, 2020 at 10:00 a.m. Central Time. This event will detail the company's performance, focusing on its innovative electric fracturing technology, which provides operational efficiencies and emission reductions. Interested parties can join the call by phone or through the company's website. A replay will be available until November 13, 2020.

U.S. Well Services (NASDAQ: USWS) reported its second quarter 2020 results, highlighting significant impacts from the COVID-19 pandemic. Revenue fell 64% to $39.8 million, down from $112.0 million in Q1. The company averaged 3.4 fully-utilized fleets, compared to 8.9 in the previous quarter. Although net loss decreased to $18.1 million from $172.4 million, Adjusted EBITDA also declined to $8.5 million. Despite challenges, the company emphasized its robust demand for electric frac services and adaptability moving forward, with a liquidity of $13.4 million as of June 30, 2020.