Ncs Multistage Holdings ( (NCSM) ) has released its Q3 earnings. Here is a breakdown of the information Ncs Multistage Holdings presented to its investors.
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NCS Multistage Holdings, Inc. is a provider of engineered products and services to optimize oil and natural gas well construction, completions, and field development strategies, operating predominantly in North America and selected international markets.
In its third quarter 2024 results, NCS Multistage Holdings reported a 15% year-over-year increase in total revenues to $44 million, primarily driven by international revenues and U.S. product sales. The company achieved a net income of $4.1 million, with a slight decrease in diluted earnings per share compared to the previous year.
Key highlights from the earnings report include an adjusted EBITDA of $7.1 million, reflecting a modest improvement from last year, and a significant enhancement in free cash flow, which saw a $3.3 million improvement over the first nine months of 2023. The company also reported a strong cash position of $15.3 million and a total debt of $8.6 million as of September 30, 2024.
Looking forward, NCS Multistage Holdings expects to maintain improved revenue performance in the fourth quarter across its U.S., Canada, and international markets, despite potential challenges in year-end activity and winter conditions. The company remains focused on leveraging its market positions and innovation to deliver value to customers and shareholders.
