National Energy Services Reunited Corp. (NESR)

National Energy Services Reunited Corp. Reports Second Quarter and First Half 2024 Financial Results

Revenue for the quarter ended June 30, 2024 is $325.0 million, growing 15.9% year-over-year and 9.5% on a sequential quarter basis Net income for the quarter ended June 30, 2024 is $18.9 million, growing 870.3% year-over-year and 89.1% on a sequential quarter basis Adjusted EBITDA (a non-GAAP measure)* for the quarter ended June 30, 2024 is $78.7 million, growing 30.2% year-over-year and 22.5% on a sequential quarter basis Diluted Earnings per Share (EPS) for the quarter ended June 30, 2024 is $0.20, growing 900.0% year-over-year and 100.0% on a sequential quarter basis Operating cash flow for the six months ended June 30, 2024, is $112.3 million, improving 55.1% year-over-year Free cash flow (a non-GAAP measure)* for the six months ended June 30, 2024, is $59.6 million, improving 73.2% year-over-year   HOUSTON, TX / ACCESSWIRE / August 29, 2024 / National Energy Services Reunited Corp. ("NESR" or the "Company") (OTC PINK:NESR)(OTC PINK:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today reported its financial results as of and for the three- and six-month periods ended June 30, 2024. The Company posted the following results for the periods presented: Three Months Ended Variance (in thousands except per share amounts and percentages) June 30, 2024 March 31, 2024 June 30, 2023 Sequential Year- over- year Revenue $ 324,969 $ 296,848 $ 280,311 9.5 % 15.9 % Net income 18,873 9,982 1,945 89.1 % 870.3 % Adjusted net income (non-GAAP)* 27,356 14,046 6,041 94.8 % 352.8 % Adjusted EBITDA (non-GAAP)* 78,655 64,216 60,411 22.5 % 30.2 % Diluted EPS 0.20 0.10 0.02 100.0 % 900.0 % Adjusted Diluted EPS (non-GAAP)* 0.29 0.15 0.07 93.3 % 314.3 % *The Company presents its financial results in accordance with generally accepted accounting principles in the United States of America ("GAAP").