Nine Energy Service ( (NINE) ) has released its Q4 earnings. Here is a breakdown of the information Nine Energy Service presented to its investors.
Nine Energy Service, Inc., headquartered in Houston, Texas, is a prominent oilfield services company providing completion solutions to the global oil and gas industry, known for its superior service quality and cutting-edge technology.
In its latest earnings report, Nine Energy Service announced a modest increase in fourth-quarter revenue despite a challenging environment marked by a flat US rig count and typical seasonal impacts. The company reported revenues of $141.4 million for the fourth quarter of 2024, with a net loss of $8.8 million and adjusted EBITDA of $14.1 million.
Key highlights from the report include a 2% sequential increase in fourth-quarter revenue and notable growth in cementing and completion tool revenues by approximately 7% and 6%, respectively. The company also emphasized its strategic focus on market share gains and cost reductions, which have contributed to its ability to maintain profitability in a declining rig count environment. Additionally, Nine Energy Service reported a total liquidity of $52.1 million as of December 31, 2024.
Looking ahead, Nine Energy Service remains optimistic about 2025, expecting stable US activity levels and potential revenue and profitability growth. The company plans to continue executing its strategy of expanding market share and implementing cost-cutting initiatives, while also focusing on technology innovation to drive future growth.
Overall, Nine Energy Service’s strategic initiatives and focus on technology position it well for potential growth, even as the company navigates the challenges of the oilfield services sector.