NYSE$NINEQ
Nine Energy Service Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Nine Energy reported strong Q4 2022 results driven by price increases and increased volumes within completion tools.
Nine Energy Service reported Q4 2022 revenues of $166.7 million, net income of $8.0 million, or $0.24 per diluted share, and adjusted EBITDA of $30.0 million. The company's results fell within the provided revenue guidance range.
- Revenue for Q4 2022 was $166.7 million.
- Net income for Q4 2022 was $8.0 million, or $0.24 per diluted share.
- Adjusted EBITDA for Q4 2022 was $30.0 million.
- The company grew its U.S. market share of percentage of stages completed from approximately 18% in 2021 to approximately 20% in 2022.
Headline financials
Revenue & EPS history
Nine Energy · Revenue · Quarterly
$167M
Forward guidance
Q1 activity levels thus far are down compared to Q4, with the U.S. rig count declining by 30 rigs since the end of 2022. Additionally, Nine lost between 1-5 days of operations, depending on the service line, to inclement weather requiring us to carry the cost of labor with no matching revenues. As a result of this, we expect Q1 revenue to be slightly down sequentially to Q4.
Tailwinds
- Total U.S. E&P capex is anticipated to increase by double digits over 2022.
- Operators will need to drill more wells to keep production flat.
- Oilfield service equipment and labor availability remain constrained.
- The sector is adopting capital discipline.
- Nine is well positioned to take advantage of this sustained cycle with both geographic and service line diversity.
Headwinds
- Q1 activity levels are down compared to Q4.
- The U.S. rig count has declined by 30 rigs since the end of 2022.
- Nine lost between 1-5 days of operations due to inclement weather.
- The company had to carry the cost of labor with no matching revenues.
- Q1 revenue is expected to be slightly down sequentially to Q4.
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 2017 | -4.0% | — | — | |
| Q2 2018 | -4.0% | — | — | |
| Q1 2018 | +15.0% | — | — | |
| Q1 2017 | +15.0% | — | — | |
| Q4 2017 | +5.0% | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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