U. S. Well Services, Inc. (USWS) Tops Q3 EPS by 6c

U. S. Well Services, Inc. (NASDAQ: USWS) reported Q3 EPS of ($0.50), $0.06 better than the analyst estimate of ($0.56). Revenue for the quarter came in at $56.5 million versus the consensus estimate of $51.95 million.

Outlook:

Commodity prices strengthened during the third quarter of 2021 as a result of the ongoing global economic recovery, which we expect will result in increased demand for pressure pumping services in 2022. We believe growth in demand will be strongest for providers of next-generation pressure pumping solutions, such as electric fleets, based on request for proposals we have received for work in 2022. U.S. Well Services is experiencing strong demand for electric pressure pumping services and believes each of our four newbuild Nyx Clean Fleets® will work under contracts when deployed in 2022. Customers continue to seek U.S. Well Services as a partner thanks to the Company's service quality, industry-leading technology and advanced digital and information platform.

Although pricing for pressure pumping services has improved modestly over the last several quarters, inflation continues to adversely impact the cost and availability of critical goods and services. U.S. Well Services is working diligently to mitigate supply-chain driven cost increases and to ensure we maintain our high level of operational efficiency in the face of labor and material shortages and other market disruptions.

For earnings history and earnings-related data on U. S. Well Services, Inc. (USWS) click here.

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