Key Points – NESR reported record first-quarter 2026 revenue of $404.6 million, up 33.5% year over year, with adjusted EBITDA of $76.7 million and net income more than doubling from the prior quarter. – The company said operations in the Middle East and North Africa were largely…
silient despite regional disruptions, and it maintained “100% reliability” for customers while using extra logistics and supply chain measures. – NESR announced plans to begin returning capital to shareholders, including a quarterly dividend starting in Q4 2026 and a $50 million share repurchase program over the next 12 months. National Energy Services Reunited (NASDAQ:NESR) reported record first-quarter 2026 revenue and outlined plans to begin returning capital to shareholders, while management said operations across its core Middle East and North Africa markets remained resilient despite regional geopolitical disruptions
Chairman and Chief Executive Officer Sherif Foda said the company had no evacuations, no operational impact and maintained “100% reliability” for customers during the period. He said NESR implemented a 30/60/90-day supply chain program to preserve the flow of materials and spare parts, including use of alternative routes and added inventory. “We see this as our obligation to stand alongside our customers, ensure their operations are not impacted, delayed, or interrupted,” Foda said. Revenue Hits Record Level Chief Financial Officer Stefan Angeli said first-quarter revenue was $404.6 million, an all-time high for the company.
Revenue increased 1.6% sequentially and 33.5% from the prior year. Angeli said sequential growth was driven primarily by Saudi Arabia, reflecting the continued ramp-up of the Jafurah contract. That was partially offset by lower activity in Egypt, Oman and Iraq, with the Iraq decline tied to regional disruptions during March.