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Recap: Nine Energy Service Q1 Earnings

Benzinga Insights
·1 min read

Shares of Nine Energy Service (NYSE:NINE) were unchanged in pre-market trading the company reported Q1 results.

Quarterly Results

Earnings per share were down 167.11% year over year to ($0.51), which missed the estimate of ($0.37).

Revenue of $146,624,000 lower by 36.17% year over year, which missed the estimate of $158,960,000.

Guidance

Nine Energy Service hasn't issued any earnings guidance for the time being.

View more earnings on NINE

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

Technicals

Company's 52-week high was at $22.71

Company's 52-week low was at $0.38

Price action over last quarter: down 4.55%

Company Profile

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.

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