Nine Energy Service Non-GAAP EPS of $0.39, revenue of $167.43M

• Nine Energy Service press release (NYSE:NINE): Q3 Non-GAAP EPS of $0.39.
• Revenue of $167.43M (+80.2% Y/Y).

• The overall market has been volatile; however, we remain positive about Nine’s outlook into 2023 and beyond. There are and will continue to be numerous factors that will influence global supply and demand, but we believe North American shale production will be critical for global supply. We do think capital discipline for both operators and oilfield service providers will continue into 2023 keeping the market tight; however, we believe the constraints on oilfield service equipment will continue, and incremental rig activity moving forward should put upward pressure on pricing and drive net margin.”

  “We do expect to see some seasonality impacts into Q4, especially as our customers remain focused on staying within capital budgets. With what we know today, we anticipate revenue to be relatively flat sequentially for Q4, with growth returning as we enter Q1 of 2023.”

• Shares +3.4% PM.