Nine Energy: 2Q Earnings Snapshot
HOUSTON (AP) _ Nine Energy Services Inc. (NINE) on Monday reported second-quarter earnings of $6.1 million.
The Houston-based company said it had profit of 21 cents per share. Earnings, adjusted for non-recurring costs, were 30 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The oilfield services company posted revenue of $237.5 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $237.8 million.
Nine Energy shares have decreased 56% since the beginning of the year. The stock has declined 66% in the last 12 months.