Following a 70% increase in revenues in 2022, Nine Energy Services, Inc. prepares to release its first quarter 2023 earnings report on May 9.
The Houston-based company, with operations throughout Oklahoma’s SCOOP and STACK plays, will release the report prior to a 9 a.m. Central Time conference call.
Nine Energy’s President and Chief Executive Officer, Ann Fox, had called 2022 a “strong year for the oilfield services space” and said the company was able to capitalize on an improving market. The May 9 report will indicate whether Nine Energy’s efforts continued into 2023.
The company had fourth quarter 2022 revenues of $166.7 million, net income of $8 million or 26 cents a basic share and adjusted EBITDA of $30 million.
Nine Energy managed to increase its revenue by nearly 70% year-over-year and net income grew by more than 5 times while EBITDA soared by more than 17 times.
