NINE News & Analysis

Nine Energy Service (NINE) Q2 Revenue at $141.8 Million Adjusted EBITDA Misses

Nine Energy Service (NYSEAMERICAN:NINE) reported second-quarter revenue of $141.8 million, aligning with its guidance, but adjusted EBITDA was $8.6 million, falling short of expectations due to Coiled Tubing equipment outages and inflation. Approximately 17% of the large-diameter Coiled Tubing fleet was out of service, with one unit returning early in Q3 and the other expected to be out until year-end. Completion Tools revenue rose 44% sequentially to $37.1 million, partially offsetting losses. The company forecasts Q3 revenue between $133 million and $143 million, indicating flat to slightly below Q2 performance. This situation may impact investor confidence as the company manages operational constraints and inflationary pressures.