National Energy Services Reunited Corp. Reports Q4 and Full Year 2024 Financial Results
HOUSTON, TX – National Energy Services Reunited Corp. (NESR), a leading provider of integrated energy services in the Middle East and North Africa (MENA) region, recently reported its financial results for the three- and twelve-month periods ended December 31, 2024. Let’s delve deeper into the financial highlights:
Revenue
The Company reported revenue of $343.6 million for the quarter ended December 31, 2024, marking a 2.2% increase from the previous quarter and a significant 11.8% year-over-year growth. This revenue growth can be attributed to various factors, such as the expansion of NESR’s service offerings, increased market demand, and strategic acquisitions.
Net Income and Adjusted EBITDA
Net income for the quarter ended December 31, 2024, surged to $26.8 million, representing a 30.2% increase from the previous quarter and an astounding 1,087.0% year-over-year growth. Adjusted EBITDA, a non-GAAP financial measure, reached $87.2 million, growing by 9.0% sequentially and 9.8% year-over-year.
Diluted Earnings per Share (EPS)
Diluted EPS for the quarter ended December 31, 2024, was $0.28, representing a 27.3% increase from the previous quarter and a staggering 1,300.0% year-over-year growth.
Net Cash Provided by Operating Activities and Free Cash Flow
Net cash provided by operating activities for the year ended December 31, 2024, totaled $229.3 million, an improvement of 29.6% year-over-year. Free cash flow, another non-GAAP financial measure, hit $124.2 million, representing a 14.2% year-over-year improvement.
Impact on Consumers
These impressive financial results could lead to several positive outcomes for consumers. NESR’s growth may result in increased competition in the energy services market, potentially driving down prices and improving service quality. Additionally, the company’s financial strength may enable it to invest in research and development, ultimately leading to more efficient and cost-effective energy solutions.
Impact on the World
On a global scale, NESR’s financial success could contribute to the energy sector’s overall growth and stability. The Middle East and North Africa region is a significant player in the global energy market, and NESR’s strong performance may attract further investments in the sector, creating new jobs and driving economic growth in the MENA region.
Conclusion
National Energy Services Reunited Corp.’s strong Q4 and full-year 2024 financial results demonstrate the company’s resilience and growth potential in the energy services sector. These impressive figures have the potential to positively impact consumers through increased competition and improved service quality, as well as contribute to the growth and stability of the global energy market.
- Revenue of $343.6 million in Q4 2024, up 2.2% sequentially and 11.8% year-over-year
- Net income of $26.8 million in Q4 2024, up 30.2% sequentially and 1,087.0% year-over-year
- Adjusted EBITDA of $87.2 million in Q4 2024, up 9.0% sequentially and 9.8% year-over-year
- Diluted EPS of $0.28 in Q4 2024, up 27.3% sequentially and 1,300.0% year-over-year
- Net cash provided by operating activities of $229.3 million for FY 2024, up 29.6% year-over-year
- Free cash flow of $124.2 million for FY 2024, up 14.2% year-over-year
These figures represent a significant milestone for NESR and bode well for the future of the energy services sector and the global energy market.
