Key Points – Record Q2 performance: Revenue rose 59.1% year over year to $520.8 million, while adjusted EBITDA reached $106.2 million with a 20.4% margin.
Adjusted net income was $45.5 million, or $0.44 per diluted share, driven primarily by the Saudi Jafurah ramp. – Raised 2026 outlook: NESR now considers $2 billion in full-year revenue a minimum objective, supported by growth in Saudi Arabia, Kuwait, the UAE and North Africa
Management expects continued third-quarter growth and broadly stable full-year EBITDA margins despite higher logistics costs. – Strong cash generation and shareholder returns: Operating cash flow was $174 million and free cash flow was $99.9 million, while net debt fell to $99.6 million. The company plans to initiate a $0.10 quarterly dividend in Q4 2026 and maintain its $50 million share-repurchase program. National Energy Services Reunited (NASDAQ:NESR) reported record second-quarter results for 2026, with revenue, adjusted EBITDA, adjusted net income and adjusted diluted earnings per share all reaching new highs as activity ramped in Saudi Arabia and other markets.
Revenue rose 28.7% sequentially and 59.1% year over year to $520.8 million. Adjusted EBITDA increased to $106.2 million, producing a 20.4% margin, while adjusted net income reached $45.5 million and adjusted diluted EPS was $0.44. Chief Executive Officer Sherif Foda said the results reflected the company’s supply-chain preparations and operating response during regional geopolitical disruptions.