Nine Energy Service (NINE) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $142.0M and Adjusted EBITDA was $8.3M; net loss was $5.1M, or $0.36 per diluted share.

• Stronger U.S. activity and Cementing gains were partly offset by Coiled Tubing downtime and lower sequential international Completion Tools activity.

Financial highlights

• Revenue was $142.0M versus $141.8M in Q2; Adjusted EBITDA was $8.3M versus $8.6M, with a 6% margin in both quarters.

• Adjusted gross profit was $20.6M; gross profit was $13.3M.

• Net loss was $5.1M versus $4.9M in Q2; diluted loss per share was $0.36 versus $0.35.

• G&A was $16.5M; depreciation and amortization was $7.4M, and tax provision was $0.1M.

• Operating cash flow was $4.7M; Q3 CapEx was $2.8M and YTD CapEx was $13.2M.

Outlook and guidance

• Q4 revenue guidance is $137M–$147M, with flat sequential revenue and modestly higher profitability expected from a richer mix of Cementing and international Tools.

• FY 2026 CapEx guidance remains $20M–$30M, with spending expected near the midpoint.

• The large-diameter Coiled Tubing unit may return in December; Q4 guidance reflects uncertainty around repairs, supply-chain timing and restart.

• Improving U.S. activity, restored Coiled Tubing capacity, new Completion Tools products and the testing facility are identified as growth avenues into 2027.