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National Energy Services Reunited Corp. Reports Fourth Quarter Financial Results
Revenue for the quarter ended December 31, 2024, was $343.7 million, growing 11.8% year-over-year and 2.2% sequentiallyNet income for the quarter ended
About this update from National Energy Services Reunited Corp
[{"type":"text","content":"Revenue for the quarter ended December 31, 2024, was $343.7 million, growing 11.8% year-over-year and 2.2% sequentiallyNet income for the quarter ended December 31, 2024, was $26.8 million, growing 1,087.0% year-over-year and 30.2% on a sequential quarter basisAdjusted EBITDA (a non-GAAP measure)* for the quarter ended December 31, 2024 was $87.2 million, an increase of 9.8% year-over-year and 9.0% sequentiallyDiluted Earnings per Share (\"EPS\") for the quarter ended December 31, 2024, was $0.28, growing 1,300.0% year-over-year and 27.3% on a sequential quarter basisNet cash provided by operating activities for the year ended December 31, 2024, was $229.3 million, improving 29.6% year-over-yearFree cash flow (a non-GAAP measure)* for the year ended December 31, 2024, was $124.2 million, improving 14.2% year-over-year HOUSTON, TX / ACCESS Newswire / March 12, 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- and twelve-month periods ended December 31, 2024. The Company posted the following results for the periods presented: Three Months Ended Variance (in thousands except per share amounts and percentages) December 31, 2024 September 30, 2024 December 31, 2023 Sequential Year-over-year Revenue $343,682 $336,205 $307,520 2.2% 11.8%Net income 26,837 20,618 2,261 30.2% 1,087.0%Adjusted net income (non-GAAP)* 28,140 28,912 23,897 (2.7)% 17.8%Adjusted EBITDA (non-GAAP)* 87,219 80,035 79,457 9.0% 9.8%Diluted EPS 0.28 0.22 0.02 27.3% 1,300.0%Adjusted Diluted EPS (non-GAAP)* 0.30 0.31 0.25 (3.2)% 20.0%*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 Consolidated Balance Sheets, Statements of Operations, and Statements of Cash Flows are derived from the financial statements that will be presented in our Annual Report on Form 20-F for the year en...