NESR Posts Record Q2 Revenue of $520.8M, Shares Jump 10% as Earnings Crush Estimates

National Energy Services Reunited Corp. reported record second-quarter 2026 results on August 10, with revenue of $520.8 million surpassing the analyst consensus of $444.1 million by roughly $72.7 million and rising 59.1% from $327.4 million in the year-earlier period. Adjusted non-GAAP earnings per share came in at $0.44, beating the consensus estimate of $0.35 by $0.09 and more than doubling the $0.21 reported a year ago. Net income reached $44.0 million, a 189.6% year-on-year gain and an 84.7% sequential increase.

The company credited higher activity across its hydraulic fracturing, well testing, and wireline logging businesses, with particular strength tied to the Jafurah ramp-up in Saudi Arabia. Adjusted EBITDA and adjusted diluted EPS both reached record highs for the quarter. Cash and cash equivalents climbed to $175.0 million as of June 30, 2026, up from $124.8 million at the end of the prior quarter, and net debt declined.

NESR shares surged roughly 10% in pre-market trading following the results. Separately, the company disclosed via an 8-K filing that it has appointed PricewaterhouseCoopers as its new independent auditor, dismissing Grant Thornton.