National Energy Services Reunited Q1 Earnings Call Highlights

National Energy Services Reunited (NASDAQ:NESR) reported grounds first-quarter 2026 gross and outlined plans to statesman returning superior to shareholders, portion absorption said operations crossed its halfway Middle East and North Africa markets remained resilient contempt determination geopolitical disruptions.

Chairman and Chief Executive Officer Sherif Foda said the institution had nary evacuations, nary operational interaction and maintained “100% reliability” for customers during the period. He said NESR implemented a 30/60/90-day proviso concatenation programme to sphere the travel of materials and spare parts, including usage of alternate routes and added inventory.

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“We spot this arsenic our work to basal alongside our customers, guarantee their operations are not impacted, delayed, oregon interrupted,” Foda said.

Revenue Hits Record Level

Chief Financial Officer Stefan Angeli said first-quarter gross was $404.6 million, an all-time precocious for the company. Revenue accrued 1.6% sequentially and 33.5% from the anterior year.

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Angeli said sequential maturation was driven chiefly by Saudi Arabia, reflecting the continued ramp-up of the Jafurah contract. That was partially offset by little enactment successful Egypt, Oman and Iraq, with the Iraq diminution tied to determination disruptions during March. On a year-over-year basis, maturation reflected a afloat 4th of publication from Jafurah and accrued enactment successful Kuwait, Algeria, Libya and Egypt.

Adjusted EBITDA was $76.7 million, representing a borderline of astir 19%. Angeli said the 4th included mean first-quarter seasonality, declaration ramp-up costs and astir $4 cardinal of incremental freight and logistics disbursal tied to determination geopolitical disruption. Those costs included peculiar aerial freight charters and different measures intended to debar interruptions to lawsuit operations.