Nine Energy Service anticipates Q3 revenue of $135M-$145M amid ongoing market volatility and international growth
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Nine Energy Service anticipates Q3 revenue between $135M and $145M, reflecting a decrease from Q2's $147.3M due to market volatility and pricing pressures. CEO Ann G. Fox highlighted growth in Completion Tool and Wireline businesses, with international revenue up 20% year-over-year. Despite challenges in the Permian Basin, the company is optimistic about international opportunities and is focusing on cost management and strategic initiatives. CFO Guy Sirkes reported total liquidity of $65.5M and a stable CapEx budget of $15M to $25M for the year.
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