National Energy Services Q2 revenue beats estimates on higher activity levels
NESR•Outlook
- National Energy Services Reunited did not provide specific financial guidance for the current or upcoming periods in its press release
Overview
- MENA oilfield services provider's preliminary Q2 revenue rose 59% yr/yr, beating analyst expectations
- Preliminary Q2 adjusted net income and adjusted EBITDA both beat analyst expectations
- Company attributes results to higher activity levels and disciplined execution
Key Details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $520.80 mln | $446.97 mln (7 Analysts) |
| Q2 EPS | $0.43 | ||
| Q2 Adjusted Net Income | Beat | $45.50 mln | $35.76 mln (5 Analysts) |
| Q2 Net Income | $44 mln | ||
| Q2 Adjusted EBITDA | Beat | $106.20 mln | $90.16 mln (7 Analysts) |
Analyst coverage:
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the oil related services and equipment peer group is "buy"
- Wall Street's median 12-month price target for National Energy Services Reunited Corp. is $33.50, about 15.4% above its August 7 closing price of $29.02
