Nine Energy Services Reports Q3 2026 Results with Revenue Growth Driven by Cementing
Nine Energy Services (NINE) reported third-quarter revenue of $142.0 million, bolstered by an 11% year-over-year increase in cementing revenue and high utilization rates. Despite these gains, the company recorded a net loss of $5.1 million ($0.36 per share), impacted by operating constraints in its coiled tubing segment due to equipment being out of service for maintenance. Management highlighted improved U.S. drilling activity, with rig counts rising to 599 at quarter-end. While inflation and diesel costs remain headwinds, the company is investing in capacity expansion, including a new testing facility designed to triple R&D throughput. For the fourth quarter, Nine Energy issued revenue guidance between $137 million and $147 million, expecting improved profitability through higher-margin service shifts.
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Topics: EBITDA Liquidity Net Loss Revenue U.S. Rig Count