AG真人官方

Nine Energy Service Announces Second Quarter 2025 Results

• Q2 25 revenue came in the upper end of original guidance, despite US rig declines throughout the quarter

• Revenue, net loss and adjusted EBITDA^A of $147.3 million, $(10.4) million and $14.1 million, respectively, for the second quarter of 2025
• Q2 25 Completion Tool revenue increased by ~9% and Q2 Wireline revenue increased by ~11% quarter over quarter
• Total H1 2025 international revenue increased by ~20% compared to H1 2024
• Total liquidity as of June 30, 2025 of $65.5 million

HOUSTON--(BUSINESS WIRE)-- Nine Energy Service, Inc. ("Nine" or the "Company") (NYSE: NINE) reported second quarter 2025 revenues of $147.3 million, net loss of $(10.4) million, or $(0.25) per diluted share and $(0.25) per basic share, and adjusted EBITDA of $14.1 million. The Company provided original second quarter 2025 revenue guidance between $138.0 and $148.0 million, with actual results in the upper end of the provided range.

鈥淒espite significant rig declines in the US land market throughout Q2, our revenue came in at the upper end of our original guidance,鈥� said Ann Fox, President and Chief Executive Officer, Nine Energy Service.

鈥淔ollowing the announcement of US imposed tariffs in April, we saw WTI prices decline in Q2, falling below $60 for the first time in four years. The decline in commodity prices, coupled with global uncertainty and increased costs, resulted in US activity declines throughout the quarter. Between March 28^th and July 3^rd, over 50 rigs came out of the US market, the majority of which came out of oil-levered basins like the Permian. With these activity declines, we began to receive pricing pressure across service lines, which negatively impacted revenue and earnings during the second quarter.鈥�

鈥淣atural gas prices also declined during Q2 but remain mostly supportive. We have begun to see a more positive sentiment in natural gas levered basins, as well as more consistent, efficient operations, which has benefited Nine, most specifically in the Northeast. Natural gas continues to be a potential catalyst for Nine, and we remain positive on the long-term outlook for natural gas.鈥�

鈥淒espite a challenging macro backdrop, Nine鈥檚 operations performed well this quarter. Our Completion Tool business increased revenue by ~9% quarter over quarter, driven mostly by an increase in international revenue and stronger sales in gas-levered basins like the Haynesville and Northeast. Additionally, our Wireline business increased revenue by ~11% this quarter, a result of more efficient operations in the Northeast and incremental market share in our remedial wireline business.鈥�

鈥淲e are playing both offense and defense to improve revenue and margins in a lower rig count environment. This includes market share gains with current and new customers, growing our international tools business, R&D and technology advances, construction of our new completion tool facility and potential expansion into new geographies. We are also simultaneously reducing costs without impeding the quality of our service and technology. In Q3 we will see full quarter realizations of activity and pricing declines that occurred throughout Q2, and because of this, anticipate Q3 revenue and earnings will be down compared to Q2.鈥�

鈥淲e are nimble and diversified in both our service and technology offerings and commodity exposure. This has and will continue to allow us to navigate these uncertain markets, while still being able to capitalize on any potential growth opportunities both domestically and internationally.鈥�

Operating Results

During the second quarter of 2025, the Company reported revenues of $147.3 million, gross profit of $17.3 million and adjusted gross profit^B of $25.8 million. During the second quarter, the Company generated ROIC of (-16.2)% and adjusted ROIC^C of 6.7%.

During the second quarter of 2025, the Company reported general and administrative (鈥淕&A鈥�) expense of $13.9 million. Depreciation and amortization expense ("D&A") in the second quarter of 2025 was $8.6 million.

The Company鈥檚 tax benefit was approximately $0.3 million year to date. The benefit for 2025 is the result of a $0.5 million discrete tax benefit recorded during the second quarter of 2025, offset by tax positions in state and non-U.S. jurisdictions.

Liquidity and Capital Expenditures

During the second quarter of 2025, the Company reported net cash provided by operating activities of $10.1 million. Capital expenditures totaled $6.1 million during the second quarter of 2025 and totaled $10.4 million for the first half of 2025. The Company鈥檚 full-year 2025 capex guidance is unchanged at $15 to $25 million.

As of June 30, 2025, Nine鈥檚 cash and cash equivalents were $14.2 million, and the Company had $51.3 million of availability under its revolving credit facility, resulting in a total liquidity position of $65.5 million as of June 30, 2025. On June 30, 2025, the Company had $49.4 million of borrowings under its revolving credit facility. In July 2025, the Company borrowed an additional $13.4 million under its revolving credit facility.

During the second quarter of 2025, the Company did not sell any shares of common stock under its at-the-market equity offering program.

Conference Call Information

The call is scheduled for Wednesday, August 6, 2025, at 9:00 am Central Time. Participants may join the live conference call by dialing U.S. (Toll Free): (877) 524-8416 or International: (412) 902-1028 and asking for the 鈥淣ine Energy Service Earnings Call鈥�. Participants are encouraged to dial into the conference call ten to fifteen minutes before the scheduled start time to avoid any delays entering the earnings call.

For those who cannot listen to the live call, a telephonic replay of the call will be available through August 20, 2025 and may be accessed by dialing U.S. (Toll Free): (877) 660-6853 or International: (201) 612-7415 and entering the passcode of 13754403.

About Nine Energy Service

Nine Energy Service is an oilfield services company that offers completion solutions within North America and abroad. The Company brings years of experience with a deep commitment to serving clients with smarter, customized solutions and world-class resources that drive efficiencies. Serving the global oil and gas industry, Nine continues to differentiate itself through superior service quality, wellsite execution and cutting-edge technology. Nine is headquartered in Houston, Texas with operating facilities in the Permian, Eagle Ford, Haynesville, SCOOP/STACK, Niobrara, Barnett, Bakken, Marcellus, Utica and Canada.

For more information on the Company, please visit Nine鈥檚 website at .

Forward Looking Statements

The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that do not state historical facts and are, therefore, inherently subject to risks and uncertainties. Forward-looking statements also include statements that refer to or are based on projections, uncertain events or assumptions. The forward-looking statements included herein are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. Such risks and uncertainties include, among other things, the level of capital spending and well completions by the onshore oil and natural gas industry, which may be affected by geopolitical and economic developments in the U.S. and globally, including conflicts, instability, acts of war or terrorism in oil producing countries or regions, particularly Russia, the Middle East, South America and Africa, as well as actions by members of the Organization of the Petroleum Exporting Countries and other oil exporting nations; general economic conditions and inflation, particularly, cost inflation with labor or materials; the effects of tariffs and other trade measures on the Company鈥檚 business and on the onshore oil and natural gas industry generally; equipment and supply chain constraints; the Company鈥檚 ability to attract and retain key employees, technical personnel and other skilled and qualified workers; the Company鈥檚 ability to maintain existing prices or implement price increases on our products and services; pricing pressures, reduced sales, or reduced market share as a result of intense competition in the markets for the Company鈥檚 dissolvable plug products; conditions inherent in the oilfield services industry, such as equipment defects, liabilities arising from accidents or damage involving our fleet of trucks or other equipment, explosions and uncontrollable flows of gas or well fluids, and loss of well control; the Company鈥檚 ability to implement and commercialize new technologies, services and tools; the Company鈥檚 ability to grow its completion tool business domestically and internationally; the adequacy of the Company鈥檚 capital resources and liquidity, including the ability to meet its debt obligations; the Company鈥檚 ability to manage capital expenditures; the Company鈥檚 ability to accurately predict customer demand, including that of its international customers; the loss of, or interruption or delay in operations by, one or more significant customers, including certain of the Company鈥檚 customers outside of the United States; the loss of or interruption in operations of one or more key suppliers; the incurrence of significant costs and liabilities resulting from litigation; cybersecurity risks; changes in laws or regulations regarding issues of health, safety and protection of the environment; and other factors described in the 鈥淩isk Factors鈥� and 鈥淏usiness鈥� sections of the Company鈥檚 most recently filed Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof, and, except as required by law, the Company undertakes no obligation to update those statements or to publicly announce the results of any revisions to any of those statements to reflect future events or developments.

听

View source version on businesswire.com:

Nine Energy Service Investor Contact:

Heather Schmidt

Senior Vice President, Strategic Development and Investor Relations

(281) 730-5113

[email protected]

Source: Nine Energy Service, Inc.