Nine Energy Service Inc. (NINE) shares gained 4.61% in after-hours on Wednesday, July 14, 2021, and closed trading at $2.95 per share. Earlier in the morning session, NINE’s stock lost 14.29% to close Wednesday’s morning session at $2.82 per share. NINE shares have risen 77.36% over the last 12 months, and they have moved up 18.99% in the past week. Over the past three months, the stock has gained 17.50%, while over the past six months, it has shed only 1.08%.
Upcoming financial results announcement
Nine Energy Service, Inc will announce its second-quarter 2021 earnings conference call on Thursday, August 5, 2021, at 9:00 am Central Time. During the call, Nine will discuss its financial and operating results for the quarter ended June 30, 2021, which are expected to be released before the conference call.
Q1 2021 financial results announcement
On May 6, 2021, Nine Energy Service released its financial results for the first quarter which ended on March 31, 2021.
Q1 2021 financial highlights
- The company reported a revenue of $66.6 million in Q1 2021 compared to $61.97 million in Q4 2020.
- It suffered a net loss of $8.2 million and basic and diluted loss per share of $0.28 in Q1 2021 compared to a $35.38 million loss and basic and diluted loss per share of $1.18 in Q4 2020.
- Adjusted EBITDA was $3.4 million in Q1 2021 compared to $13.87 million in Q4 2020.
- Selling, general and administrative expenseswere $10.2 million, compared to $10.97 million in Q4 2020.
- Nine Energy Service had cash and cash equivalents of $53.0 million on March 31, 2021.
FY 2020 financial highlights
- Nine Energy Service reported revenue of $310.9 million compared to $832.94 million in FY 2019.
- The cost of revenue was $302.16 million in FY 2020 compared to $669.98 million in FY 2019.
- General and administrative expenses were $49.4 million in FY 2020 compared to $81.34 in FY 2019.
- It suffered a net loss of $378.9 million or $12.74 per basic and diluted share in FY 2020 compared to a net loss of $217.75 or $7.43 per basic and diluted share in FY 2019.
- Adjusted EBITDA was $25.8 million in FY 2020 compared to $113.01 million in FY 2019.
Well, as of this writing there is no news or development which could justify its early loss and later gains in the after-hours session on Wednesday. We are not sure how it will perform in the coming days.