National Energy Services Reunited Corp. Reports Third Quarter 2026 Financial Results and Declares Cash Dividend of $0.10 Per Share

(NASDAQ:NESR) National Energy Services Reunited Corp. reported revenue of $504.7 million for the quarter ended September 30, 2026, representing a 70.9% increase year-over-year. Net income for the quarter was $34.3 million, up 93.5% year-over-year, while diluted earnings per share (EPS) reached $0.33, an 83.3% increase from the prior-year quarter. Adjusted EBITDA for the quarter was $95.9 million, improving 49.9% year-over-year. Adjusted net income (non-GAAP) for the quarter was $39.6 million, excluding $5.3 million in total charges and credits, which included a $2.9 million impairment and $1.1 million in expected credit loss provisions. Adjusted diluted EPS (non-GAAP) was $0.38 for the quarter, compared to $0.44 in the previous quarter and $0.16 in the prior-year quarter. Cash and cash equivalents as of September 30, 2026, were $106.8 million, compared to $124.8 million as of December 31, 2025, and $69.7 million as of September 30, 2025. Free cash flow for the quarter was negative $45.9 million, compared to negative $34.1 million for the same period in 2025. Total debt as of September 30, 2026, was $267.3 million, with $123.4 million classified as short-term, compared to $310.1 million total debt and $118.8 million short-term as of December 31, 2025. Net debt was $160.5 million as of September 30, 2026, down from $185.3 million at year-end 2025. During the first nine months of 2026, NESR generated over $200 million in operating cash flow, invested more than $150 million in capital expenditures, and reduced net debt by approximately $25 million. The company entered into a comprehensive refinancing arrangement with a consortium of regional and international financial institutions, refinancing existing secured credit facilities and establishing a multi-year maturity profile with term financing, revolving credit, and working capital facilities. NESR declared a quarterly cash dividend of $0.10 per share, payable on December 10, 2026, to shareholders of record as of December 3, 2026. The company maintained a 100% operational presence across all operating units during the quarter. NESR celebrated an agreement to deliver the region's first direct lithium extraction project in Riyadh, marking a milestone for its Environmental & Decarbonization Applications (NEDA) strategy. The company scheduled a conference call for November 9, 2026, at 8:00 AM ET to discuss these results.

NESR Secures $300 Million in Multiple Services & Technology Contracts in Kuwait

(NASDAQ:NESR) National Energy Services Reunited Corp. announced multiple contract awards in Kuwait, totaling $300 million over five years. The awards cover both Production Services and Drilling & Evaluation segments and include a Master Technology Agreement ("MTA") to deploy NESR's Open Technology Platform through the Company's in-country research hub. NESR will pioneer innovation and bring best-in-class technologies from around the world, tailoring them to the upstream ecosystem in Kuwait. The company is building a one-of-a-kind research center focused on challenge-specific innovations in upstream, sustainability, and unconventional resources. NESR also received its first Joint Operations intervention contract and a surface Well Testing contract with KOC. The company has over 7,000 employees, representing more than 60 nationalities in 16 countries. NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions.