NESR · National Energy Services Reunited Corp.
Price & Indicators
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Metrics snapshot
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AI Brief
Q2 FY26 earnings call · Aug 10, 2026TL;DR. NESR posted record Q2 2026 results with revenue up 59.1% YoY to $520.8M, exceeding a $2B annual run-rate well ahead of plan, and management raised full-year 2026 revenue guidance to view $2B as a floor while committing to a quarterly dividend and new capital allocation framework.
- + Full-year 2026 revenue outlook raised, with $2B now viewed as a minimum objective.
- + Q2 Adjusted EBITDA reached a record $106.2M, up 50.5% YoY, with margin expanding to 20.4% on project ramp-ups and disciplined costs.
- + Q2 Adjusted Net Income rose 125.9% YoY to a record $45.5M with Adjusted Diluted EPS of $0.44, demonstrating strong operating leverage.
- − Q2 margins were pressured by ~$4M (~80 bps) of incremental freight and logistics costs tied to regional geopolitical disruptions, with freight expected to remain the primary cost impact in Q3.
- − Iraq activity remained a headwind in Q2 and continues to be impacted by ongoing regional disruptions.
- − Q2 included $1.0M of current expected credit loss provisions related to a North Africa customer, signaling receivable risk.
- − Management acknowledged that major tender awards are being pushed by roughly a quarter, delaying expected contract wins from Q2/Q3 to Q3/Q4.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted Diluted EPS non-GAAP | $0.44 | Q2 2026 | — |
| Adjusted EBITDA non-GAAP | $106.2M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net Income $44.02M
+$14.9M Income Taxes
+$7.04M Interest Expense, net
+$38.78M Depreciation and Amortization
+$1.45M Total Charges and Credits impacting Adjusted EBITDA
= Adjusted EBITDA $106.18M
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| Adjusted net income non-GAAP | $45.5M | Q2 2026 | — |
| Free cash flow non-GAAP | $99.9M | Q2 2026 | — |
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GAAP → non-GAAP reconciliationGAAP Net cash provided by operating activities $174.01M
-$74.1M Capital expenditures
= Free cash flow $99.91M
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| Net Debt non-GAAP | $99.63M | As of June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Long-term debt $159.71M
+$64.5M Current installments of long-term debt
+$50.42M Short-term borrowings
-$174.99M Cash and cash equivalents
= Net Debt $99.63M
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Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Oil & Gas Equipment & Services — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
NESR
this stock
National Energy Services Reunited Corp.
|
$3.24B | +57.5% | +1.7% | 35.3 | 4.3% |
|
SLB
Slb Limited/Nv
|
$76.49B | +27.0% | +9.5% | 25.1 | 4.1% |
|
BKR
Baker Hughes Co
|
$55.51B | +23.0% | -0.3% | — | 2.5% |
|
TS
Tenaris SA
|
$28.00B | +45.6% | — | — | 0.8% |
|
FTI
TechnipFMC plc
|
$27.84B | +54.4% | +9.4% | 24.7 | 3.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| NESR | -23.2% | -28.5% | +6.3% | -3.1% | +57.5% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | -23.0% | -28.0% | -5.9% | -4.1% | +44.7% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.