National Energy Services Reunited Corp. (NESR) reported significant financial growth in its latest quarterly results, with revenues reaching $520.8 million for the three-month period ending June 30, 2026, a 59% increase from $327.4 million in the same period last year. For the six-month period, revenues totaled $925.3 million, up from $630.5 million, marking a 47% year-over-year increase. The company's net income also saw substantial growth, rising to $44.0 million for the second quarter, compared to $15.2 million in the prior year, and $67.8 million for the first half of 2026, up from $25.6 million.
The company's operational performance was bolstered by its Production Services segment, which generated $329.7 million in revenue for the second quarter, a 60% increase from $205.1 million in the same quarter of 2025. This growth was attributed to increased hydraulic fracturing activity in Saudi Arabia. The Drilling and Evaluation Services segment also contributed positively, with revenues rising to $191.0 million from $122.3 million year-over-year, driven by heightened well testing and wireline logging activities.
In terms of operational metrics, NESR reported a total of 549 rigs operating in the MENA region as of June 30, 2026, compared to 565 at the end of 2025. The company’s total assets increased to $2.1 billion, up from $1.9 billion at the end of 2025, with cash and cash equivalents rising to $175.0 million from $124.8 million. The company’s employee headcount remained stable, reflecting its focus on operational efficiency amid growth.
Strategically, NESR has opted not to extend its $59.2 million Secured Revolving Credit Facility, citing sufficient operating cash flow to meet its working capital needs. The company is also working on refinancing its 2021 Secured Facilities Agreement to enhance its financial flexibility. Looking ahead, NESR plans to initiate a quarterly cash dividend of $0.10 per share starting in the fourth quarter of 2026 and has authorized a share repurchase program of up to $50 million, indicating confidence in its financial position and future growth prospects.
About National Energy Services Reunited Corp.
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