National Energy Services Reunited Corp
NASDAQ:NESR

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National Energy Services Reunited Corp
NASDAQ:NESR
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Price: 13.96 USD 0.14% Market Closed
Market Cap: 1.4B USD

National Energy Services Reunited Corp
Investor Relations

National Energy Services Reunited Corp. is a holding company, which engages in the provision of oilfield services. The company is headquartered in Houston, Texas and currently employs 5,581 full-time employees. The company went IPO on 2017-05-17. The Company’s segments include Production Services segment, which includes the results of operations from services that are generally offered and performed during the production stage of a well’s lifecycle. These services include hydraulic fracturing, cementing, coiled tubing, filtration, completions, stimulation, pumping, and nitrogen services. Its Drilling and Evaluation Services segment includes the results of operations from services that are generally offered and performed during pre-production stages of a well’s lifecycle and related mainly to the operation of oil rigs. These services include well testing services, drilling services and rental, fishing and remediation, drilling and workover rigs, wireline logging services, turbines drilling, directional drilling, slickline services and drilling fluids, among others.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 13, 2025
AI Summary
Q3 2025

Revenue Decline: Q3 2025 revenue was $295.3 million, down 9.8% sequentially and 12.2% year-over-year, mainly due to contract transitions in Saudi Arabia.

Major Contract Win: NESR secured a multiyear, multibillion-dollar frac contract in Jafurah, the largest single service award in sector history, significantly elevating the company's regional profile.

Margin Stability: Despite lower revenue, adjusted EBITDA margin held steady at 21.7%, reflecting effective cost control and execution.

Strong Outlook: Full-year 2025 revenue expected to match 2024, with Q4 set to deliver record results as new contracts ramp up, and a $2 billion revenue run rate projected by the end of 2026.

Aggressive Investment: NESR is investing countercyclically, maintaining CapEx at $140–150 million in both 2025 and 2026 to support growth and contract start-ups.

Debt Focus: All excess cash flow will be used for debt reduction through mid-2026 as the company refinances its debt and manages capital commitments.

Growth Visibility: Management expressed 99% confidence in achieving the 2026 $2 billion run rate, citing signed contracts and operational readiness.

Key Financials
Revenue
$295.3 million
Adjusted EBITDA
$64 million
Adjusted EBITDA Margin
21.7%
Interest Expense
$8.1 million
Tax Expense
$3.7 million
Effective Tax Rate
29.9% for Q3 2025; 24.8% year-to-date
Adjusted EPS
$0.16
Gross Debt
$332.9 million
Net Debt
$263.3 million
Net Debt-to-Adjusted EBITDA Ratio
0.93x
Return on Capital Employed (ROCE)
10.1%
Capital Expenditures (CapEx)
$140–150 million (full year 2025 expected)
Free Cash Flow
$70–80 million (full year 2025 projected)
2026 Revenue Run Rate
$2 billion (projected exit run rate)
Incremental EBITDA (2026)
$100 million (approximate incremental for 2026)
Earnings Call Recording
Other Earnings Calls

Management

Mr. Sherif Foda
Executive Chairman & CEO
No Bio Available
Mr. Stefan Angeli
Chief Financial Officer
No Bio Available
Mr. Salih Merghani
Vice President of Operations
No Bio Available
Mr. Blake Geelhoed Gendron
Vice President of Investor Relations & NEDA Segment
No Bio Available
Ms. Chahira Barnat
Treasury Director
No Bio Available

Contacts

Address
TEXAS
Houston
777 Post Oak Blvd Fl 7
Contacts
+18329253777.0
www.nesr.com