Business
National Energy Services Reunited Corp. Reports Third Quarter 2019 Financial Results
Revenue for the third quarter of 2019 is $162 million, growing 11% year-over-year Net Income for the third quarter of 2019 is $11 million Adjusted Net Income
About this update from National Energy Services Reunited Corp
[{"type":"text","content":"\n\nRevenue for the third quarter of 2019 is $162 million, growing 11% year-over-year\n\n\nNet Income for the third quarter of 2019 is $11 million\n\n\nAdjusted Net Income (a non-GAAP measure) for the third quarter of 2019 is $16 million*\n\n\nAdjusted EBITDA (a non-GAAP measure) is $48 million as compared to $46 million in the prior year quarter, resulting in 30% margins\n\n\nDiluted Earnings per Share (EPS) for the third quarter of 2019 is $0.13, which included $0.06 per share of Charges and Credits\n\n\nAdjusted Diluted EPS (a non-GAAP measure) for the third quarter of 2019 is $0.19*\n\n\n HOUSTON--(BUSINESS WIRE)--\nNational Energy Services Reunited Corp. (“NESR” or the “Company”) (NASDAQ: NESR) (NASDAQ: NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa (“MENA”) and Asia Pacific regions, today reported its financial results for the quarter ended September 30, 2019. The Company posted the following results for the periods presented\n\n\n\n\n \n\n\n\n \n\n\n\nSuccessor (NESR)\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended\n\n\n\n \n\n\n\n \n\n\n\nVariance\n\n\n\n \n\n\n\n\n\n(in millions except per share amounts)\n\n\n\n \n\n\n\nSeptember 30,\n2019\n\n\n\n \n\n\n\n \n\n\n\nJune 30,\n2019\n\n\n\n \n\n\n\n \n\n\n\nSeptember 30,\n2018\n\n\n\n \n\n\n\n \n\n\n\nSequential\n\n\n\n \n\n\n\n \n\n\n\nYear-over- year\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n$\n\n\n\n161,606\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n159,899\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n145,580\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n1\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n11\n\n\n\n%\n\n\n\n\n\nNet income\n\n\n\n \n\n\n\n \n\n\n\n11,110\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n11,356\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n16,157\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(2\n\n\n\n)%\n\n\n\n \n\n\n\n \n\n\n\n(31\n\n\n\n)%\n\n\n\n\n\nAdjusted net income (non-GAAP)*\n\n\n\n \n\n\n\n \n\n\n\n16,195\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n16,410\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n18,591\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(1\n\n\n\n)%\n\n\n\n \n\n\n\n \n\n\n\n(13\n\n\n\n)%\n\n\n\n\n\nAdjusted EBITDA (non-GAAP)*\n\n\n\n \n\n\n\n \n\n\n\n47,708\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n45,714\n\n\n\n \n\n\n\...