Nine Energy Service, Inc.

Nine Energy Service, Inc. is an onshore completion services provider focused on unconventional oil and gas resource development in North American basins and internationally. The company offers cementing services, completion tools such as liner hangers, packers, and frac sleeves, as well as wireline and coiled tubing services. It was formerly known as NSC-Tripoint, Inc. and changed its name to Nine Energy Service, Inc. in October 2011. The company was incorporated in 2011 and is headquartered in Houston, Texas.

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Nine Energy Service Q2 Revenue Meets Guidance but EBITDA Misses on Coiled Tubing Woes

Nine Energy Service reported second-quarter revenue of $141.8 million, within its guidance range, but adjusted EBITDA of $8.6 million fell short due to margin compression in coiled tubing and inflationary cost pressures. The company took two large-diameter coiled tubing units, about 17% of that fleet, out of service for maintenance and repairs, with one returning early in the third quarter and the other expected back near year-end. Coiled tubing costs rose 12% sequentially for consumables, labor, and repairs, while completion tools revenue jumped 44% to $37.1 million on domestic share gains and international sales. Nine guided third-quarter revenue to $133 million to $143 million and reaffirmed full-year capital spending of $20 million to $30 million, likely trending to the middle-to-lower end.

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