Nine Energy Service reports Q4 EPS (22c), one estimate (24c)

Reports Q4 revenue $141.8M, one estimate $135.0M. “We had a good Q4 with revenue increasing sequentially, despite a flat average US rig count and typical Q4 seasonality,” said Ann Fox, President and Chief Executive Officer, Nine Energy Service (NINE). “The Nine team had many accomplishments in 2024, despite a challenging backdrop for the oilfield service sector. Over the past several years, we have seen significant US rig declines, driven mostly by a depressed natural gas price, which averaged around $2.19 for 2024. Nine’s earnings have historically moved in tandem with the US rig count, which will continue to be a significant driver for Nine moving forward. However, in 2024 we created and implemented a two-pronged strategy of market share gains and cost reductions enabling us to drive profitability in a declining rig count environment. We began to see the impacts of this strategy in Q3, which continued into Q4 with sequential revenue increases despite a flat average US rig count and typical Q4 seasonality impacts.”