NESR Q1 2026 Earnings Call Transcript

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DATE

Monday, May 11, 2026 astatine 8 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Sherif Foda

• Chief Financial Officer — Stefan Angeli

Full Conference Call Transcript

Sherif Foda: Ladies and gentlemen, bully morning, and convey you for participating successful this league call. The satellite and peculiarly the Middle East has experienced a seismic geopolitical displacement implicit the past respective months. I privation to commencement the telephone by sincerely thanking each our employees and their families, not lone for delivering fantastic results successful the look of unprecedented challenges but besides for their absorption connected safety, supporting our customers and outstanding operational readiness. Beyond the beardown results, I'm astir arrogant to study that each our squad members and their families stay safe, our operations stay unimpacted, and our committedness to our lawsuit remains undeterred during these pugnacious times.

We spot this arsenic our work to basal alongside our customers, guarantee their operations are not impacted, delayed oregon interrupted. I person 2 cardinal messages for today's call. First, I privation to study connected what I personally saw connected the crushed successful the Middle East from the precise outset of the struggle to today. While immoderate of the planetary media is the reporting successful Middle East paralyzed by struggle and constrained, what I person seen myself is simply a portion that has rallied astir a singular absorption of resilience, an unstoppable operation. Second, I privation to zoom retired to sermon the differentiated positioning of NESR and the important post-conflict accidental acceptable that I spot connected the horizon.

Energy security, localized capableness and infrastructure diverseness are present resounding themes successful the vigor sector. To reiterate the cardinal message, we stay uniquely aligned and basal enarthrosis to enarthrosis with our customers. We've had zero evacuation. Our section workforce has committed to safely ensuring nary turndown of immoderate jobs and 100% reliability. We've implemented a 30-60-90 proviso concatenation programme to support uninterrupted travel of materials and spares. Our situation absorption squad ramped up its oversight seamlessly, and we basal acceptable with other capableness to efficaciously conscionable the evolving needs crossed the region. Just arsenic successful the COVID pandemic, our countercyclical concern strategy is not conscionable a slogan, but it's Nest's committedness to measurement up successful times of crisis.

In that spirit, fto maine relay immoderate cardinal observations from the portion since landing successful Saudi connected March 1. My extremity was to guarantee adjacent interaction with our customers and employees. And what I came distant with was a deeper admiration for the resilience of determination enactment and tract crews passim the worth chain. From our largest lawsuit successful the Gulf, the connection was clear. Safety, contingency readying and operational flexibility. This is not the archetypal clip the portion has grappled with information and shipping challenges. And that information was connected show successful the mode our biggest clients person courageously maintained halfway operations and accommodate proviso routes and storage.