National Energy Services Reunited reported record second-quarter results, with revenue surging 59.1% year over year to $520.8 million, driven primarily by the ramp-up of its Jafurah contract in Saudi Arabia. Adjusted EBITDA reached $106.2 million, representing a 20.4% margin, while adjusted net income was $45.5 million, or $0.44 per diluted share. The company now considers $2 billion in full-year 2026 revenue a minimum objective, supported by growth in Saudi Arabia, Kuwait, the UAE and North Africa. Operating cash flow was $174 million and free cash flow was $99.9 million, while net debt fell to $99.6 million. NESR plans to initiate a $0.10 quarterly dividend in the fourth quarter of 2026 and maintain its $50 million share-repurchase program.
