National Energy Services Reunited Corp (NAS:NESR)
$ 27.9 -0.90 (-3.13%) Market Cap: 2.81 Bil Enterprise Value: 3.03 Bil PE Ratio: 42.92 PB Ratio: 2.83 GF Score: 62/100

Q3 2025 National Energy Services Reunited Corp Earnings Call Transcript

Nov 13, 2025 / 01:00 PM GMT
Release Date Price: $13.97 (+7.21%)

Key Points

Positve
  • National Energy Services Reunited Corp (NESR) secured a multi-year, multi-billion dollar award for the Jafua project, marking a cornerstone achievement for the company.
  • The company is experiencing growth in Kuwait, Saudi Arabia, and other regions, indicating a positive activity inflection beyond Jafua.
  • NESR's countercyclical investment strategy is positioning the company for strength and operational readiness, allowing it to capitalize on global market weaknesses.
  • The company has maintained strong cost discipline and execution, resulting in steady adjusted EBITA margins despite lower revenues.
  • NESR is well-positioned to benefit from the AI revolution and energy demand growth in the Middle East, with plans to integrate AI into operations for enhanced efficiency.
Negative
  • NESR's overall third-quarter revenue declined by 9.8% sequentially and 12.2% year over year, primarily due to contract transitions in Saudi Arabia.
  • Global macroeconomic volatility, including trade uncertainty and inflationary pressures, has created challenges for short-term forecasting in the oilfield service sector.
  • The company's cash flow from operations and free cash flow fell below expectations due to delayed collections, impacting working capital efficiency.
  • NESR faces pressure from shareholders for immediate results, cash, and dividends, which can conflict with its long-term investment strategy.
  • The company is in the process of refinancing its debt facility, which may impact financial flexibility in the short term.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NESR.OQ - National Energy Services Reunited Corp
Q3 2025 National Energy Services Reunited Corp Earnings Call
Nov 13, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the NASA reports 3rd quarter 2025 financial results call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone requires operator assistance during the conference, please press 0 on your telephone keypad.

As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Blake Gendron. You may begin.

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Unidentified_2 [2]
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Thank you Kate. Hello and welcome to
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