NYSE$NINEQ
Nine Energy Service Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Nine Energy reported flat revenue and increased gross profit despite stable rig count.
Nine Energy Service reported Q1 2024 revenues of $142.1 million, a net loss of $(8.1) million, and adjusted EBITDA of $15.0 million. The company's revenue was within its original guidance range, and it saw an increase in gross profit despite a flat US rig count.
- Q1 2024 revenue was $142.1 million, within the provided guidance range.
- Net loss for Q1 2024 was $(8.1) million, or $(0.24) per diluted share.
- Adjusted EBITDA for Q1 2024 was $15.0 million.
- Gross profit increased quarter over quarter due to reduced whitespace in coil tubing.
Headline financials
Revenue & EPS history
Nine Energy · Revenue · Quarterly
$142M
Forward guidance
Nine Energy expects Q2 revenue to decrease compared to Q1 due to declining natural gas prices and pricing pressure in the cementing business.
Tailwinds
- Medium and long-term outlook for natural gas markets remains positive.
- Maintaining footprint will be imperative to capitalize when gas prices recover.
- Business is nimble and able to capitalize quickly when market shifts.
- Service and commodity diversity is critical.
- Strategy of providing an asset-light business with forward-leaning technology and excellent service remains unchanged.
Headwinds
- Natural gas prices declined to below $2.00 starting in February and continuing into Q2.
- Expect incremental activity slowdowns in natural-gas levered basins, specifically the Northeast and Haynesville.
- Cementing business will see full quarter realizations of pricing pressure in Q2.
- Q2 revenue is expected to be down compared with Q1.
- Decline in international sales.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 8 quarterly earnings reports · overlaid with Q1 2024
-3.5%
Avg return
Earnings day
+1.4%
Avg return
5 days after
-4.1%
Avg return
30 days after
36%
13 / 36 earnings
Positive
+31.8%
Q1 2020
Best reaction
-49.1%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q3 2025 | -22.1% | -13.2% | -34.2% | |
| Q2 2025 | -3.8% | -16.5% | -9.2% | |
| Q1 2025 | +14.8% | +16.0% | -17.2% | |
| Q4 2024 | +6.9% | +16.0% | -6.6% | |
| Q3 2024 | +6.2% | +32.2% | +67.7% | |
| Q2 2024 | -6.9% | -12.1% | -27.4% | |
| Q1 2024 | -9.5% | -11.9% | -29.2% | |
| Q4 2023 | +6.7% | +1.0% | +23.2% | |
| Q3 2023 | -30.0% | — | — | |
| Q2 2023 | -4.6% | — | — | |
| Q1 2023 | -19.5% | — | — | |
| Q4 2022 | -28.6% | — | — | |
| Q3 2022 | +19.7% | — | — | |
| Q2 2022 | -5.5% | — | — | |
| Q1 2022 | -4.6% | — | — | |
| Q4 2021 | +24.0% | — | — | |
| Q3 2021 | +10.2% | — | — | |
| Q2 2021 | -10.4% | — | — | |
| Q1 2021 | -3.3% | — | — | |
| Q4 2020 | -7.8% | — | — | |
| Q3 2020 | +0.0% | — | — | |
| Q2 2020 | -15.0% | — | — | |
| Q1 2020 | +31.8% | — | — | |
| Q4 2019 | -49.1% | — | — | |
| Q3 2019 | +4.6% | — | — | |
| Q2 2019 | -9.4% | — | — | |
| Q1 2019 | +8.3% | — | — | |
| Q4 2016 | -14.1% | — | — | |
| Q4 2018 | -16.3% | — | — | |
| Q3 2017 | -11.0% | — | — | |
| Q3 2018 | -14.4% | — | — | |
| Q2 2018 | -4.0% | — | — | |
| Q2 2017 | -4.0% | — | — | |
| Q1 2018 | +15.0% | — | — | |
| Q1 2017 | +15.0% | — | — | |
| Q4 2017 | +5.0% | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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