Nine Energy Service Posts Q2 Loss of $4.9M; Coiled Tubing Woes Hit Margins, Q3 Outlook Flat

summarizeSummary

Nine Energy Service missed Q2 adjusted EBITDA guidance as coiled tubing maintenance issues and cost inflation compressed margins. Two large-diameter units were taken out of service, with one not expected back until near year-end, and Q3 guidance calls for flat to modestly lower results.

check_boxKey Events · Earnings and Guidance · NINE

• Q2 Revenue $141.8M, Net Loss $4.9M

  Revenue increased sequentially but adjusted EBITDA of $8.6 million fell below guidance due to coiled tubing margin compression and cost inflation.

• Coiled Tubing Fleet Disruption

  Two large-diameter coiled tubing units (~17% of fleet) were taken out of service for maintenance; one returned early Q3, the second expected near year-end, constraining operations.

• Liquidity at $46.8 Million

  As of June 30, 2026, cash was $16.8 million and revolver availability was $30.0 million, with $97.3 million drawn on the credit facility.

• Q3 Guidance: Flat to Modestly Down

  Management expects Q3 revenue and profitability to be flat to modestly lower than Q2, citing sustained revenue loss from the damaged unit and persistent cost inflation.

auto_awesomeAnalysis · NINE · Energy & Transportation

Nine Energy Service reported a Q2 net loss of $4.9 million on revenue of $141.8 million, missing its own adjusted EBITDA guidance due to margin compression in its Coiled Tubing segment. Two large-diameter coiled tubing units—representing about 17% of the fleet—were taken out of service for maintenance, and one won't return until near year-end. Combined with persistent cost inflation, management guided Q3 revenue and profitability flat to modestly down sequentially. The company has $46.8 million in total liquidity, but the operational setbacks and cautious near-term outlook weigh on the post-bankruptcy recovery narrative.