Nine Energy Q3 revenue $138.2M beats guidance; net loss narrows to $(10.1M)

Nine Energy Service, Inc.

2024-Q3 EPS reported -$0.89 revenue$412,678,000

Revenue of $138.2M beat guidance ($127-137M); up ~4% QoQ despite ~3% US rig count decline.
Net loss improved to $(10.1M) ($0.26 per share) vs prior quarter; adjusted EBITDA $14.3M, up ~47% QoQ.
Cementing revenue rose ~12% QoQ; G&A expense $12.4M; D&A $9.0M.
Total liquidity $43.3M (cash $15.7M + revolver availability $27.6M); capex $3.6M in Q3.
Q4 revenue and profitability expected to decline due to seasonality and lower international tool sales.

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