National Energy Services Reunited ( (NESR) ) has released its Q4 earnings. Here is a breakdown of the information National Energy Services Reunited presented to its investors.
National Energy Services Reunited Corp. (NESR) is a leading provider of integrated energy services in the Middle East and North Africa (MENA) region, specializing in production and drilling services to help customers maximize reservoir potential.
In its latest earnings report, NESR announced a strong financial performance for the fourth quarter of 2024, with significant growth in revenue, net income, and adjusted EBITDA. The company highlighted its strategic expansion and technological advancements as key drivers of success.
For the quarter ended December 31, 2024, NESR reported a revenue of $343.7 million, marking an 11.8% increase year-over-year. Net income soared to $26.8 million, a remarkable 1,087% rise from the previous year. Adjusted EBITDA also saw a notable increase of 9.8% year-over-year, reaching $87.2 million. The company’s diluted earnings per share (EPS) rose to $0.28, reflecting a 1,300% increase compared to the same period in 2023.
NESR’s financial health is further underscored by its improved cash flow, with net cash from operating activities reaching $229.3 million for the year, a 29.6% increase from 2023. The company’s free cash flow also improved by 14.2% year-over-year, totaling $124.2 million. NESR’s strategic focus on expanding its geographic footprint and investing in new technologies, such as the ROYA downhole drilling platform, positions it well for future growth.
Looking ahead, NESR remains optimistic about its prospects for 2025, despite potential geopolitical and seasonal challenges in the first half of the year. The company is confident in its ability to capitalize on new demand sources in the oil and gas sector and maintain its competitive edge in the MENA region.