Nine Energy Service Announces Fourth Quarter and Full Year 2020 Results
HOUSTON–(BUSINESS WIRE)–Nine Energy Service, Inc. (“Nine” or the “Company”) (NYSE: NINE) reported fourth quarter 2020 revenues of $62.0 million, net loss of $(35.4) million and adjusted EBITDA of $(13.9) million. For the fourth quarter 2020, adjusted net lossB was $(35.7) million, or $(1.20) adjusted basic loss per shareC.
“As anticipated, holiday and weather shutdowns were not as pronounced as we have seen historically during the fourth quarter,” said Ann Fox, President and Chief Executive Officer, Nine Energy Service. “Activity improvements are reflected in our 25% increase in revenue quarter over quarter; however, a combination of continued pricing pressure, as well as one-off, non-cash items negatively affected…
