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Nine Energy Service Inc (NINE)
NYSE:NINE
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Earnings Data
Report Date
Mar 10, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.24Last Year’s EPS
-$0.28Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: 3.13%
|Next Earnings Date:Mar 10, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook with significant revenue growth, increased market share, and successful cost reduction initiatives. However, challenges such as low natural gas prices, a decrease in completion tool revenue, and an anticipated Q4 slowdown were also highlighted. The company's strategic focus on cost efficiency and market share growth provides a positive outlook, but current economic conditions pose challenges.Company Guidance
During the Q3 2024 earnings call for Nine Energy Service, the company provided several key metrics and guidance. The revenue for the quarter was reported at $138.2 million, surpassing the initial guidance range of $127 million to $137 million. Adjusted EBITDA was $14.3 million, reflecting a 47% increase quarter-over-quarter, with incremental adjusted EBITDA margins at approximately 79%. Despite challenges with low natural gas prices, the company achieved a 4% revenue growth quarter-over-quarter, primarily driven by a 23% increase in market share in their cementing business. Cementing jobs rose by 9%, leading to a 12% increase in revenue. Coiled tubing revenue also saw a 5% rise due to better utilization. Looking forward, Nine Energy Service anticipates a moderate slowdown in Q4 with projected revenue between $132 million and $142 million, citing budget exhaustion, weather, and a decrease in international tool sales as contributing factors. However, the company remains optimistic about potential activity increases in 2025 if natural gas prices improve, particularly in the Northeast and Haynesville regions, which comprise 30% to 35% of their revenue.Revenue and Market Share Growth
Revenue for the quarter was $138.2 million, exceeding the original guidance range. Total revenue grew by approximately 4% quarter-over-quarter, with the cementing business increasing market share by approximately 23%.
Significant Increase in Adjusted EBITDA
Adjusted EBITDA increased by approximately 47% quarter-over-quarter with incremental margins of approximately 79%.
Cost Reduction and Supply Chain Initiatives
Cost reductions and supply chain initiatives positively impacted profitability, including vendor consolidation and rationalization, resulting in sustainable increased profitability.
Successful Commercialization of New Products
The pincer hybrid frac plug and Frac Dart have been successfully commercialized, gaining market share and reducing time and costs for customers.
Improved Coiled Tubing Utilization
Coiled tubing revenue increased by approximately 5% this quarter due to better utilization with days worked increasing by approximately 8%.
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NINE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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NINE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $0.96 | $1.02 | +6.25% |
| Aug 05, 2024 | $1.60 | $1.61 | +0.63% |
| May 06, 2024 | $2.22 | $2.08 | -6.31% |
| Mar 07, 2024 | $1.98 | $2.22 | +12.12% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Nine Energy Service Inc (NINE) report earnings?
Nine Energy Service Inc (NINE) is schdueled to report earning on Mar 10, 2025, TBA Not Confirmed.
What is Nine Energy Service Inc (NINE) earnings time?
Nine Energy Service Inc (NINE) earnings time is at Mar 10, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NINE EPS forecast?
NINE EPS forecast for the fiscal quarter 2024 (Q4) is -$0.24.
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