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Sep 30, 2020
Nine Energy Q3 2020 Earnings Report
Nine Energy reported a challenging Q3 with sequential activity and revenue increases, offset by pricing pressures and strategic bond repurchases.
Key Takeaways
Nine Energy Service reported Q3 2020 revenues of $49.5 million and a net loss of $(18.5) million. The company saw sequential activity and revenue increases throughout the quarter, but absolute activity levels remained low. The company capitalized on opportunities to purchase additional bonds, reducing overall debt outstanding.
Revenue for Q3 2020 was $49.5 million.
Net loss for Q3 2020 was $(18.5) million.
Adjusted EBITDA for Q3 2020 was $(11.1) million.
The company repurchased $23.6 million par value of bonds for $7.2 million of cash during and subsequent to Q3.
Nine Energy
Nine Energy
Forward Guidance
The company expects Q4 to be better sequentially than Q3 from an activity and revenue perspective.