Nine Energy Service Q2 posts net loss on inflationary pressures
NINE•Outlook and key figures
The company said it expects third-quarter revenue and profitability to be flat to modestly down versus Q2. Nine also maintained its full-year 2026 capital expenditures guidance at $20 million to $30 million.
Coiled Tubing operations are expected to remain constrained until year-end because of unit repairs.
Key Q2 figures:
- Net loss: $4.89 million
- Capex: $4.80 million
- Gross profit: $12.83 million
- Income from operations: -$2.89 million
- Pretax loss: $4.51 million
Q2 results and margin pressure
Nine Energy Service Inc. posted a second-quarter net loss of $4.89 million as inflationary pressures and margin compression in its Coiled Tubing business weighed on profitability.
The U.S. oilfield services firm's Q2 revenue rose sequentially, but results were hurt by two large-diameter coiled tubing units being out of service for maintenance, which constrained operations. Inflationary pressures in consumables, labor and repairs also weighed on margins across service lines.
Completion Tools showed strong performance, supported by increased domestic sales and international growth.
