NexTier Oilfield Solutions (NEX) Reports In-Line Q1 EPS

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Go back to NexTier Oilfield Solutions (NEX) Reports In-Line Q1 EPS

NexTier Announces First Quarter 2022 Financial and Operational Results

April 27, 2022 4:34 PM EDT

 

HOUSTON, April 27, 2022 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (NYSE: NEX) ("NexTier" or the "Company") today reported first quarter 2022 financial and operational results.

First Quarter 2022 Results and Recent Highlights

Total revenue of $635.0 million, a 25% sequential increase. Fourth consecutive quarter of 25%+ revenue growthNet income of $8.8 million ($0.04 per diluted share)Adjusted EBITDA(1) of $83.5 millionCash from operations of $28.7 million and positive free cash flow(1) of $1.7 millionAveraged 33 deployed fleets in the first quarter of 2022, exited with 34 deployed fleetsExited first quarter of 2022 with total liquidity... More