National Energy Services Reunited Corp. (NASDAQ:NESR) shares surged 10.27% in pre-market trading on Monday after the energy services company delivered second-quarter results comfortably ahead of Wall Street expectations.
Adjusted earnings per share reached $0.44, beating the analyst consensus of $0.34 by $0.10, while revenue also came in significantly above market forecasts.
Quarterly revenue climbed to $520.8 million, exceeding the consensus estimate of $444.11 million and representing growth of 59.1% from $327.4 million in the corresponding period a year earlier.
Net income nearly triples as activity increases
National Energy Services Reunited reported second-quarter net income of $44.0 million, an increase of 189.6% year-on-year and 84.7% compared with the previous quarter.
The company attributed the improvement primarily to higher activity across its hydraulic fracturing, well testing and wireline logging businesses.
“The second quarter was another exceptional quarter for NESR, delivering record revenue, record Adjusted EBITDA and our strongest quarterly earnings to date,” said Stefan Angeli, Chief Financial Officer.
“Revenue grew 59% year-over-year to $520.8 million, while net income nearly tripled from the prior year to $44.0 million, demonstrating the significant operating leverage embedded in our business.”
Adjusted EBITDA reached a record $106.2 million, increasing 50.5% from the same quarter last year and 38.5% sequentially.
Diluted earnings per share were $0.43, representing a year-on-year improvement of $0.27.
Cash flow strengthens NESR balance sheet
Cash generation was another standout feature of the quarter. Operating cash flow surged 466.6% year-on-year to $174.0 million, while free cash flow reached $99.9 million.
The strong cash performance contributed to a substantial improvement in National Energy Services Reunited’s financial position.
Cash and cash equivalents increased to $175.0 million as of June 30, 2026, compared with $124.8 million at the end of 2025.
At the same time, net debt fell sharply to $99.6 million from $185.3 million on December 31, 2025, reflecting stronger cash generation and improvements in working capital management.
Earnings beat drives sharp pre-market rally
The combination of stronger-than-expected earnings, a substantial revenue beat and improved cash generation provided a clear catalyst for the 10.27% pre-market advance in National Energy Services Reunited shares.
With revenue rising nearly 60%, net income almost tripling and net debt falling considerably during the first half of the year, the latest results demonstrated both strong operational momentum and improving financial flexibility.
Investors responded positively to the scale of the earnings beat, particularly as increased activity across several of the company’s core oilfield service lines translated into record revenue and adjusted EBITDA during the quarter.
National Energy Services Reunited stock price
