Compared to Estimates, NexTier Oilfield Solutions (NEX) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, NexTier Oilfield Solutions (NEX) reported revenue of $945.09 million, up 12.1% over the same period last year. EPS came in at $0.68, compared to $0.39 in the year-ago quarter.
The reported revenue represents a surprise of -0.38% over the Zacks Consensus Estimate of $948.66 million. With the consensus EPS estimate being $0.69, the EPS surprise was -1.45%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how NexTier Oilfield Solutions performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Well Construction and Intervention Services: $39.57 million versus $43.65 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.5% change.
Revenue- Completion Services: $905.52 million versus $912.97 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +13% change.
Adjusted Gross Profit (loss)- Well Construction and Intervention Services: $8.71 million compared to the $9.93 million average estimate based on three analysts.
Adjusted Gross Profit (loss)- Completion Services: $260.08 million compared to the $258.55 million average estimate based on three analysts.
View all Key Company Metrics for NexTier Oilfield Solutions here>>>
Shares of NexTier Oilfield Solutions have returned +30.8% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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NexTier Oilfield Solutions Inc. (NEX) : Free Stock Analysis Report
