earnings
confidence high
sentiment negative
materiality 0.65
Nine Energy Service Q3 2021 revenue $92.9M, net loss $(16.1)M, revenue slightly below guidance
Nine Energy Service, Inc.
2021-Q3 EPS reported
-$1.61
revenue$244,326,000
- Revenue of $92.9M, up 9% sequentially but below guidance of $95-103M; basic loss per share $(0.53).
- Adjusted EBITDA of $4.5M; adjusted net loss $(15.7)M, adjusted basic loss per share $(0.51).
- Labor constraints in Permian Basin hindered wireline jobs; Q4 revenue expected flat to slightly up.
- Total liquidity $85.4M as of Sept 30, 2021 ($30.0M cash + $55.4M revolver availability).
- Capital expenditures $2.1M in Q3, $4.9M year-to-date; Completion Tool and Coiled Tubing performed well.