National Energy Services Reaches Record Net Income Amidst Significant Revenue Growth
National Energy Services (NESR) reported strong third-quarter 2026 financial results, highlighted by a 70.9% year-over-year revenue increase to $504.7 million. This growth was primarily driven by the Jafurah contract and increased operational activity across Kuwait, Oman, Abu Dhabi, and Algeria. The company achieved its second-highest adjusted net income in history at $39.6 million, representing a 156.8% increase compared to the previous year. Despite robust earnings, free cash flow for the quarter was negative $45.9 million due to strategic inventory investments and temporary collection delays. Management also noted geopolitical headwinds in Iraq and increased logistics costs totaling $5.5 million. Looking forward, NESR issued full-year 2026 revenue guidance of approximately $2 billion and announced its first-ever quarterly dividend of $0.10 per share.
Coverage
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