Nine Energy Q2 revenue $132.4M, net loss $14.0M; cuts 2024 capex guidance

Nine Energy Service, Inc.

2024-Q2 EPS reported -$0.64 revenue$274,521,000

Revenue $132.4M, net loss $(14.0)M ($0.40 EPS), adjusted EBITDA $9.7M.
Full-year capex guidance cut to $10-15M from $15-25M; Q2 capex was $2.5M.
Liquidity $50.8M as of June 30; $52M revolver drawn, additional $3M drawn July 29.
Sold ~4.2M shares via ATM for ~$6.8M net proceeds; surpassed 300 total refrac jobs.
Q3 outlook: expects revenue and profitability relatively flat with Q2 amid rig count decline.

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