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National Energy Services Reunited Corp. Reports First Quarter 2026 Financial Results
Revenue for the quarter ended March 31, 2026, is $404.6 million, reflecting an increase of 33.5% year-over-year and 1.6% sequentiallyNet income for the
About this update from National Energy Services Reunited Corp
Revenue for the quarter ended March 31, 2026, is $404.6 million, reflecting an increase of 33.5% year-over-year and 1.6% sequentiallyNet income for the quarter ended March 31, 2026, is $23.8 million, improving 205.4% sequentially and 129.3% year-over-yearDiluted Earnings per Share (EPS) for the three months ended March 31, 2026 is $0.23, representing an increase of 109.1% year-over-year and 201.3% sequentiallyAdjusted EBITDA (a non-GAAP measure)** for the quarter ended March 31, 2026, is $76.7 million, improving 22.7% year-over-yearOperating cash flow for the quarter ended March 31, 2026, is $30.7 million, growing 50.1% year-over-year HOUSTON, TX / ACCESS Newswire / May 11, 2026 / National Energy Services Reunited Corp. ("NESR" or the "Company"), a leading integrated energy services provider in the Middle East and North Africa ("MENA"), today announced its financial results as of and for the three-month period ended March 31, 2026. The Company delivered the following results for the periods presented: Three Months Ended Variance (in thousands except per share amounts and percentages) March 31, 2026 December 31, 2025 March 31, 2025 Sequential Year- over- year Revenue $404,586 $398,262 $303,102 1.6% 33.5%Net income 23,827 7,803 10,391 205.4% 129.3%Adjusted net income (non-GAAP)** 26,733 31,879 12,963 (16.1)% 106.2%Adjusted EBITDA (non-GAAP)** 76,671 84,414 62,463 (9.2)% 22.7%Diluted EPS 0.23 0.08 0.11 201.3% 109.1%Adjusted Diluted EPS (non-GAAP)** 0.26 0.32 0.14 (17.8)% 85.7%**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 Consolidated Balance Sheets, Consolidated Statements of Operations, and Consolidated Statements of Cash Flows are derived from the consolidated financial statements presented in our Quarterly Report on Form 10-Q as of and for the three months ended March 31, 2026.Stefan Angeli, Chief Financial Officer, commented, "First Quarter 2026 delivered outstanding results despite the geopolitical conflict with strong operational execution driving continued growth and profitability. Revenue rea...
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