NCS Multistage Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 30, 2023 at 04:24 pm EDT
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NCS Multistage Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 38.28 million compared to USD 48.87 million a year ago. Net income was USD 4.41 million compared to USD 3.94 million a year ago. Basic earnings per share from continuing operations was USD 1.78 compared to USD 1.61 a year ago. Diluted earnings per share from continuing operations was USD 1.77 compared to USD 1.58 a year ago.
For the nine months, revenue was USD 107.22 million compared to USD 115.45 million a year ago. Net loss was USD 42.79 million compared to USD 3.08 million a year ago. Basic loss per share from continuing operations was USD 17.33 compared to USD 1.27 a year ago. Diluted loss per share from continuing operations was USD 17.33 compared to USD 1.27 a year ago.
NCS Multistage Holdings, Inc. is a provider of engineered products and support services for oil and natural gas well construction, well completions and field development strategies. The Company offers products and services primarily to exploration and production companies for use in onshore and offshore wells. The Companyâs products and services are utilized in oil and natural gas basins throughout North America and in selected international markets, including Argentina, China, the Middle East and the North Sea. The Company owns a 50% interest in Repeat Precision, LLC, which sells composite frac plugs, perforating guns and related products directly to customers. The Company also provides tracer diagnostics services for well completion and reservoir characterization that utilize downhole chemical and radioactive tracers. The Company sells products for well construction, including its casing buoyancy systems, liner hanger systems and toe initiation sleeves.