Nine Energy Services (NYSE: NINE) reported Q2 EPS of $0.37, $0.01 better than the analyst estimate of $0.36. Revenue for the quarter came in at $205.49 million versus the consensus estimate of $190.01 million.

• Revenue, Net Income and Adjusted EBITDAA of $205.5 million, $9.0 million and $30.6 million, respectively for the second quarter of 2018
• Second quarter 2018 Revenue and Adjusted EBITDA increased approximately 18% and 27%, respectively over the first quarter 2018
• Second quarter 2018 ROICB of 8%

“The team at Nine continues to execute in the field and drive growth for the Company,” said Ann Fox, President and Chief Executive Officer, Nine Energy Service. “We remain focused on offering our customers a unique blend of outstanding wellsite execution and service with a portfolio of innovative and reliable technology to increase efficiencies and decrease cycle time,” said Fox. \"With our proven track record, we have been able to gain market share and strategically increase price as seen through the significant growth on the top line of approximately 18% and increasing net income by over five times over the first quarter of 2018. We were also happy to see our ROIC increase by approximately 500 basis points this quarter. ROIC will continue to help guide management on capital deployment decisions moving forward and gauging Company performance.”

“The trends in onshore completions continue to help propel the Completion Solutions Segment across all service lines. Our completion tools and wireline stages grew approximately 30% collectively quarter over quarter despite US land rig count increasing approximately 7% and market stage count growing approximately 8%. Operational efficiencies within Nine continue to improve and help Nine navigate labor bottlenecks with the average stages per employee per month increasing over 40% through the first half of the year,\" said Fox.

“We remain positive on the outlook for North American shale and for the company moving forward, anticipating another quarter of both revenue and adjusted EBITDA growth in the third quarter of 2018. This growth will be driven by both completion tools and our completions services, all of which directly benefit from industry trends of more complex completions and multi-pad development,” Fox concluded.

For earnings history and earnings-related data on Nine Energy Services (NINE) click here.