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National Energy Services Reunited Corp. Reports First Quarter Financial Results
Revenue for the quarter ended March 31, 2025, is $303.1 million, growing 2.1% year-over-yearNet income for the quarter ended March 31, 2025, is $10.4 million,
About this update from National Energy Services Reunited Corp
[{"type":"text","content":"Revenue for the quarter ended March 31, 2025, is $303.1 million, growing 2.1% year-over-yearNet income for the quarter ended March 31, 2025, is $10.4 million, growing 4.1% year-over-yearAdjusted EBITDA (a non-GAAP measure)* for the quarter ended March 31, 2025, is $62.5 million, as compared to $64.2 million for the quarter ended March 31, 2024Diluted Earnings per Share (EPS) for the quarter ended March 31, 2025, is $0.11, growing 10.0% year-over-yearOperating cash flow for the three months ended March 31, 2025, is $20.5 million HOUSTON, TX / ACCESS Newswire / June 3, 2025 / National Energy Services Reunited Corp. (\"NESR\" or the \"Company\") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa (\"MENA\") region, today reported its financial results as of and for the three months ended March 31, 2025. The Company posted the following results for the periods presented: Three Months Ended Variance (in thousands except per share amounts and percentages) March 31, 2025 December 31, 2024 March 31, 2024 Sequential Year-over-year Revenue $303,102 $343,682 $296,848 (11.8)% 2.1%Net income 10,391 26,837 9,982 (61.3)% 4.1%Adjusted net income (non-GAAP)* 12,963 28,140 14,046 (53.9)% (7.7)%Adjusted EBITDA (non-GAAP)* 62,463 87,219 64,216 (28.4)% (2.7)%Diluted EPS 0.11 0.28 0.10 (60.7)% 10.0%Adjusted Diluted EPS (non-GAAP)* 0.14 0.30 0.15 (53.3)% (6.7)%*The Company presents its financial results in accordance with generally accepted accounting principles in the United States of America (\"GAAP\"). However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. Please see Tables 1, 2, 3, and 4 below for reconciliations of GAAP to non-GAAP financial measures. The Condensed Consolidated Balance Sheets, Condensed Consolidated Interim Statements of Operations, and Condensed Consolidated Interim Statements of Cash Flows are derived from the unaudited condensed consolidated interim financial statements present in our Period Report on Form 6-K as of and for the three months ended March 31, 2025.Stefan Angeli, Chief Financial Officer commented \"Despite seasonal slowdowns associated with the holy month of Ramadan and continued macroeconomic uncertainty, NESR delivered solid res...