Nine Energy Q1 revenue $142.1M, net loss $8.1M; expects Q2 revenue down

Nine Energy Service, Inc.

2024-Q1 EPS reported -$0.24 revenue$142,120,000

Revenue of $142.1M, within guidance of $135–$145M; adjusted EBITDA $15.0M.
Net loss of $8.1M ($0.24 per diluted share); gross profit improved vs Q4.
Surpassed 60,000 Stinger Dissolvable Plug units sold since launch in Q1 2020.
Expects Q2 revenue to decline due to lower natural gas prices and cementing pricing pressure.
Cash and equivalents $10.2M; liquidity $37.5M; no Excess Cash Flow offer to noteholders.

item 2.02 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, 2024 results: revenue $142.1 million, net income $(8.1) million, EPS $(0.24) per diluted share and $(0.24) per basic share.

Period: the quarter ended March 31, 2024
Revenue: $142.1 million
Net income: $(8.1) million
EPS: $(0.24) per diluted share and $(0.24) per basic 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 2024 Results • Revenue, net loss and adjusted EBITDA A of $142.1 million, $(8.1) million and $15.0 million, respectively, for the first quarter of 2024 • Despite flat US rig count, increased gross profit in Q1 versus Q4 • Surpassed 60,000 Stinger TM

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Source: SEC EDGAR

accession 0001193125-24-132025

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