NYSE$NINEQ
Nine Energy Service Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Nine Energy's Q2 2023 results were reported, with revenue within guidance and a net loss recorded.
Nine Energy Service reported Q2 2023 revenues of $161.4 million, a net loss of $(2.5) million, and adjusted EBITDA of $21.7 million. The results were within the company's original revenue guidance, but activity declines and pricing pressure are expected to impact Q3 results negatively.
- Q2 revenue was $161.4 million, within the original guidance range.
- Net loss for the quarter was $(2.5) million, or $(0.08) per diluted share.
- Adjusted EBITDA was $21.7 million.
- The company is cautiously optimistic that the rig count will reach a bottom in Q3 2023.
Headline financials
Revenue & EPS history
Nine Energy · Revenue · Quarterly
$161M
Forward guidance
Nine Energy Service anticipates lower activity levels and continued pricing pressure from customers in Q3, leading to a sequential decline in revenue and earnings compared to Q2.
Tailwinds
- Cautiously optimistic that the rig count will bottom in Q3.
- Potential for rigs to be added back into the market starting in early 2024.
- Strong team with long tenure to manage volatility.
- Focus on developing new technology.
- Pursuing increased market share in North American land and international markets.
Headwinds
- Activity levels in Q3 are expected to be down.
- Continued pricing pressure from customers.
- Expect Q3 revenue and earnings to be down sequentially to Q2.
- Cementing operations impacted by rig count decline in Haynesville and Eagle Ford.
- North American completion tool revenue was down this quarter.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 8 quarterly earnings reports
-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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