Nuverra Environmental (NES) Reports Q2 Loss of $0.96 on Revenues of $48.9M

Nuverra Environmental (NYSE: NES) reported Q2 EPS of ($0.96). Revenue for the quarter came in at $48.9 million.

• Second quarter revenue was $48.9 million, an increase of approximately 17.8%, or $7.4 million, when compared with revenue of $41.5 million in the second quarter of 2017. The increase is comprised of 3.3% for pricing increases and 14.5% for an increase in activities.
• Net loss for the second quarter was $11.2 million, an improvement of $8.4 million, or approximately 42.9%, when compared with a net loss of $19.6 million in the second quarter of 2017.
• Adjusted EBITDA for the second quarter was $4.1 million, an increase of $2.0 million compared with $2.1 million in the second quarter of 2017.
• Second quarter Adjusted EBITDA margin improved by 340 basis points from the second quarter of 2017.
• Total liquidity as of June 30, 2018 was $20.2 million.

"Nuverra's second quarter financial performance reflects the on-going recovery in the energy industry, particularly our operations in the Bakken region. Revenue grew by 18% and adjusted EBITDA almost doubled when compared to our second quarter results in 2017," said Charlie Thompson, Interim Chief Executive Officer.

"We recently added a number of key executives to our management, including Robert Fox as Chief Operating Officer. With the additions to our management team and increased capital spending, we are improving Nuverra\'s competitive position."

For earnings history and earnings-related data on Nuverra Environmental (NES) click here.

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