National Energy Services Reunited Corp. $(NESR)$ reported its financial results for the first quarter ending March 31, 2025. The company recorded revenues of $303.1 million, marking a 2.1% increase compared to the same quarter in 2024. However, this represented an 11.8% decline from the previous quarter, December 31, 2024. Net income for the quarter was $10.4 million, reflecting a 4.1% year-over-year growth but a 61.3% decrease from the previous quarter. The diluted earnings per share $(EPS)$ for the quarter was $0.11, showing a 10.0% year-over-year improvement. Adjusted EBITDA was reported at $62.5 million, with a margin of 20.6%. Operating cash flow for the quarter amounted to $20.5 million. The company's Net Debt to Adjusted EBITDA ratio improved significantly, ending the quarter at 0.93, down from 1.30 a year earlier. The company highlighted that despite seasonal slowdowns due to the holy month of Ramadan and ongoing macroeconomic uncertainties, they managed to deliver solid results. NESR remains focused on its strategic priorities, including profitable revenue growth, enhancing execution efficiency, and commercializing new technology, while improving debt reduction and working capital efficiency. The conditions in the MENA region continue to support growth, and NESR is committed to maintaining this momentum.
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