Home Equities Score How Nine Energy Service Inc. (NINE) stock did recovery in the after-hours...

How Nine Energy Service Inc. (NINE) stock did recovery in the after-hours on Wednesday?

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%.

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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.


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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.

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Conclusion

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.

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