Nine Energy investors wait to see if there will be a rebound from 1Q earnings


Nine Energy Service, Inc. plans to release its second quarter 2023 earnings report on Friday, August 4.

A conference call will be held at 9 a.m. following the release of the financial and operating results for the Houston company that carries out operations in Oklahoma’s STACK and SCOOP plays.

Nine Energy reported first quarter 2023 revenues of $163.4 million, a net loss of $6.1 million and adjusted EBITA for $25 million.

At the time, President and Chief Executive Officer Ann Fox attributed the net loss on a softening in the market over the decline in natural gas prices. She said it resulted in a decrease in activity and pricing compared to the fourth quarter results.

“We continue to believe we have one of the top completion tool portfolios in the U.S.”

The oilfield services company has operating facilities in the Permian, Eagle Ford, Haynesville, SCOOP/STACK, Niobrara, Barnett, Bakken, Marcellus, Utica and Canada.