Nine Energy Service: Q3 Earnings Insights

Shares of Nine Energy Service NINE rose 2.63% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were down 606.25% year over year to ($1.13), which missed the estimate of ($0.89).

Revenue of $49,521,000 decreased by 75.52% year over year, which missed the estimate of $51,070,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Nov 05, 2020

Time: 10:00 AM

ET Webcast URL: https://investor.nineenergyservice.com/events-and-presentations

Technicals

52-week high: $10.65

52-week low: $0.38

Price action over last quarter: down 35.43%

Company Description

Nine Energy Service Inc is a North American onshore completion and production services provider. It targets unconventional oil and gas resource development. It operates in two segments, Completion Solutions, which is the key revenue generator, and Production Solutions. The Completion Solutions segment offers cementing services; completion tools, including liner hangers and accessories, frac sleeves, fully composite frac plugs, and specialty open hole float equipment and centralizers and other services. The Production Solutions segment provides production enhancement and well workover services through well-servicing rigs and ancillary equipment. It operates in the US, Canada, and other countries where the majority of the revenue is generated from the United States.