Filing Flows › National Energy Services Reunited (NESR) › Q1 2026
National Energy Services Reunited (NESR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
National Energy Services Reunited (NESR) reported revenue of $405M for the first quarter 2026 (Q1 2026), +33% from a year earlier and +2% from the quarter before. Operating margin was 8.9%, net earnings $23.8M (5.9% of revenue).
National Energy Services Reunited, Q1 2026: revenue $405M (+34% year over year), operating margin 8.9%, net earnings $23.8M, operating cash flow $30.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $405M | +2% | +33% |
| Gross profit | $51.8M | +8% | +38% |
| Operating profit | $36.0M | +17% | +72% |
| Net earnings | $23.8M | +205% | +129% |
| Operating cash flow | $30.7M | -78% | +50% |
What changed
Revenue was $404.6M in Q1 2026, up 33% year over year and up 2% from the previous quarter. Production Services was the largest line at 60% of revenue. Production Services added $53.0M year over year (up 28%), 52% of the total change.
Gross margin was 12.8%, up 0.5 points from a year earlier. Operating profit was $36.0M, a 8.9% margin (up 2.0 points year over year). Of the extra revenue versus a year earlier, 15% reached operating profit, above the 7% margin then. Operating expenses fell 4% while revenue rose 33%. Net earnings were $23.8M, up 129% year over year. The effective tax rate was 23.0%.
Operating cash flow was $30.7M (up 50% year over year), 129% of net earnings. Non-cash charges added back $33.8M of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items used $29.4M. Capital expenditures of $36.0M exceeded it, leaving free cash flow of −$5.3M.
Questions
What was National Energy Services Reunited's revenue in the first quarter 2026?
National Energy Services Reunited (NESR) reported revenue of $405M for the first quarter 2026 (Q1 2026), +33% from a year earlier and +2% from the quarter before.
Was National Energy Services Reunited profitable in the first quarter 2026?
Operating profit was $36.0M (8.9% of revenue) and net earnings $23.8M.
Source: National Energy Services Reunited 10-Q on SEC EDGAR.