Nine Energy Q1 rev $163.4M, net loss $6.1M, guidance soft for Q2

Nine Energy Service, Inc.

2023-Q1 EPS reported -$0.19 revenue$163,408,000

Q1 revenue $163.4M within guidance; net loss $6.1M ($0.19/diluted share); adjusted EBITDA $25.0M.
Completion tool revenue up 7% QoQ; Stinger dissolvable plugs sold up ~23% driven by international sale.
Liquidity $47.4M (cash $21.4M, revolver availability $26.0M); capex $5.0M; operating cash flow $4.0M.
Expects Q2 revenue down slightly sequentially on price pressure in Northeast and Haynesville, citing softness in natural gas.
Stockholders approved 2M share increase in incentive plan, banned share recycling and dividends on unvested awards.

item 2.02 item 5.02 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Nine Energy Service, Inc. reported the quarter ended March 31, 2023 results: revenue $163.4 million, net income $(6.1) million, EPS $(0.19) per diluted share.

Period: the quarter ended March 31, 2023
Revenue: $163.4 million
Net income: $(6.1) million
EPS: $(0.19) per diluted share
Result: reported results

Exact text from the filing

Act of 1933, as amended. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Nine Energy Service Announces First Quarter 2023 Results • Revenue, net loss and adjusted EBITDA A of $163.4 million, $(6.1) million and $25.0 million, respectively, for the first quarter of 2023 • For the first quarter of 2023 the Company generated ROIC B of 16.2% • Total liquidity position of

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Nine Energy Service, Inc. shareholders approved Election of three nominees as Class II Directors at the 2023-05-05 meeting.

Proposal: director election
Outcome: passed
Meeting: 2023-05-05

Exact text from the filing

Each of the three nominees for Class II Directors that was up for election was elected for a term of three years. Votes regarding the election of these directors were as follows: NOMINEE VOTES FOR VOTES WITHHELD BROKER NON-VOTES Scott E. Schwinger 14,932,247 1,742,656 9,350,092 Gary L. Thomas 14,943,798 1,731,105 9,350,092 Andrew L. Waite 16,312,199 362,704 9,350,092

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Nine Energy Service, Inc. shareholders approved Ratification of PricewaterhouseCoopers LLP as independent registered public accounting firm for fiscal year ending December 31, 2023 at the 2023-05-05 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2023-05-05

Exact text from the filing

PricewaterhouseCoopers LLP was ratified as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023. The voting results were as follows: VOTES FOR VOTES AGAINST VOTES ABSTAINED BROKER NON- VOTES 25,940,003 36,366 48,626 0

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Nine Energy Service, Inc. shareholders approved Approval of the Second Amendment to the Nine Energy Service, Inc. 2011 Stock Incentive Plan (Incentive Plan Amendment) at the 2023-05-05 meeting.

Proposal: equity plan
Outcome: passed
Meeting: 2023-05-05

Exact text from the filing

The Incentive Plan Amendment was approved. The voting results were as follows: VOTES FOR VOTES AGAINST VOTES ABSTAINED BROKER NON- VOTES 15,234,404 1,385,850 54,649 9,350,092

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Nine Energy Service, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-138425

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