2023-04-25 16:17:18 ET
- NexTier Oilfield Solutions press release ( NYSE: NEX ): Q1 Non-GAAP EPS of $0.66 beats by $0.08 .
- Revenue of $935.7M (+47.4% Y/Y) beats by $8.76M .
- Adjusted EBITDA of $227.6 million, compared to $212.7 million in the prior quarter
- Net cash from operations of $173.3 million and free cash flow of $76.3 million
- Exited first quarter of 2023 with total liquidity of $630.5 million, including $218.5 million of cash and undrawn ABL; no term loan maturities until 2025
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Adjusted net income of $156.4 million includes a management adjustment for the partial release of the valuation allowance of $107.4 million.
- For the second quarter of 2023, company expect moderate sequential revenue growth, with adjusted EBITDA expected to improve once again.
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Company expect to generate approximately $500 million of free cash flow in 2023.
For further details see:
NexTier Oilfield Solutions Non-GAAP EPS of $0.66 beats by $0.08, revenue of $935.7M beats by $8.76M