Nine Energy Service Stock Earnings Reports

Nine Energy emerged from Chapter 11 on March 5, 2026 and applied fresh start accounting, producing a complex Q1. Reported revenue for Q1 was $130 million and adjusted EBITDA was $3 million (including a $5.5 million noncash inventory write-down). Operations were negatively impacted by unusually severe winter weather in January–February and some transitional disruption related to the bankruptcy process, but management reports no material customer or vendor losses and expects those issues to be behind the company. Key operational highlights: cementing revenue was $53.4M (1% increase), wireline revenue was $23.9M (down ~5%), completion tools revenue was $25.8M (down ~10%), and coiled tubing revenue was $26.9M (up ~4%); the team surpassed 500,000 Scorpion plugs sold. Liquidity at quarter end was $46.9M (cash $11.2M plus $35.7M revolver availability) with $90.4M drawn on the revolver (plus an additional $5M borrow on April 28). Q1 capex was $5.6M; full-year capex guidance is $20–30M and expected cash interest expense is ~$7M. Management expects sequential improvement in Q2 driven primarily by less weather-related downtime and operational efficiencies, guiding Q2 revenue of $136M–$146M and adjusted EBITDA of $10M–$15M. Management views international tools and Haynesville expansion as growth opportunities, believes demand signals (DUC completions, possible rig adds) are increasing, and expects normalized cash generation in a typical year (with stronger cash flow from 2027 onward).