Nine Energy Service Second Quarter 2024 Earnings: Misses Expectations

Nine Energy Service (NYSE:NINE) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$132.4m (down 18% from 2Q 2023).
• Net loss: US$14.0m (loss widened by 453% from 2Q 2023).
• US$0.40 loss per share (further deteriorated from US$0.076 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Nine Energy Service Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 8.1%.

Looking ahead, revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Energy Services industry in the US.

Performance of the American Energy Services industry.

The company's shares are down 13% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 5 warning signs for Nine Energy Service (2 are a bit unpleasant!) that you should be aware of.

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