Filing Flows › National Energy Services Reunited (NESR) › Q2 2026 › vs Q1 2026
National Energy Services Reunited (NESR) Q2 2026 vs Q1 2026 (quarter over quarter)
National Energy Services Reunited's revenue rose $116M (+29%) from $405M in Q1 2026 to $521M in Q2 2026. The biggest changes: Production Services +$88.7M (+37%); Drilling and Evaluation Services +$27.5M (+17%). Gross margin 15.6% against 12.8% (+2.8 pts).
National Energy Services Reunited, Q2 2026: revenue $521M (+59% year over year), operating margin 12.5%, net earnings $44.0M, operating cash flow $174M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 15.6% | 12.8% | +2.8 pts |
| Operating margin | 12.5% | 8.9% | +3.5 pts |
| Net margin | 8.5% | 5.9% | +2.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Production Services | $330M | $241M | $88.7M | +37% |
| Drilling and Evaluation Services | $191M | $164M | $27.5M | +17% |
| Revenue | $521M | $405M | $116M | +29% |
| Gross profit | $81.3M | $51.8M | $29.5M | +57% |
| Cost of revenue | $439M | $353M | $86.7M | +25% |
| Operating profit | $64.8M | $36.0M | $28.8M | +80% |
| Operating expenses | $16.5M | $15.8M | $655K | +4% |
| Pre-tax earnings | $58.9M | $30.9M | $28.0M | +90% |
| Other expense, net | $5.9M | $5.1M | $829K | +16% |
| SG&A | $12.0M | $11.1M | $915K | +8% |
| Other operating costs | $4.4M | $4.7M | −$260K | -6% |
| Net earnings | $44.0M | $23.8M | $20.2M | +85% |
| Income tax | $14.9M | $7.1M | $7.8M | +109% |
| Depreciation & amortization | $36.1M | $33.8M | $2.3M | +7% |
| Share-based compensation | $2.7M | $2.5M | $168K | +7% |
| Working capital & other | $91.2M | −$29.4M | $121M | — |
| Operating cash flow | $174M | $30.7M | $143M | +466% |
Questions
How much did National Energy Services Reunited's revenue grow quarter over quarter in Q2 2026?
National Energy Services Reunited's revenue rose $116M (+29%) from $405M in Q1 2026 to $521M in Q2 2026.
What drove National Energy Services Reunited's revenue change in Q2 2026?
Production Services +$88.7M (+37%); Drilling and Evaluation Services +$27.5M (+17%).