Filing Flows › National Energy Services Reunited (NESR) › Q3 2026 › vs Q2 2026
National Energy Services Reunited (NESR) Q3 2026 vs Q2 2026 (quarter over quarter)
National Energy Services Reunited's revenue fell $16.0M (-3%) from $521M in Q2 2026 to $505M in Q3 2026. The biggest changes: Production Services −$16.8M (-5%); Drilling and Evaluation Services +$754K (+0.4%). Gross margin 13.7% against 15.6% (-1.9 pts).
National Energy Services Reunited, Q3 2026: revenue $505M (+71% year over year), operating margin 10.4%, net earnings $34.3M, operating cash flow −$3.2M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 13.7% | 15.6% | -1.9 pts |
| Operating margin | 10.4% | 12.5% | -2.0 pts |
| Net margin | 6.8% | 8.5% | -1.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Production Services | $313M | $330M | −$16.8M | -5% |
| Drilling and Evaluation Services | $192M | $191M | $754K | +0.4% |
| Revenue | $505M | $521M | −$16.0M | -3% |
| Gross profit | $69.0M | $81.3M | −$12.3M | -15% |
| Cost of revenue | $436M | $439M | −$3.7M | -0.8% |
| Operating profit | $52.5M | $64.8M | −$12.3M | -19% |
| Operating expenses | $16.4M | $16.5M | −$6K | 0% |
| Pre-tax earnings | $43.0M | $58.9M | −$15.9M | -27% |
| Other expense, net | $9.5M | $5.9M | $3.5M | +60% |
| SG&A | $12.6M | $12.0M | $555K | +5% |
| Other operating costs | $3.9M | $4.4M | −$561K | -13% |
| Net earnings | $34.3M | $44.0M | −$9.7M | -22% |
| Income tax | $8.7M | $14.9M | −$6.2M | -42% |
| Operating cash sources | $78.4M | −$91.2M | $170M | — |
| Depreciation & amortization | $37.1M | $36.1M | $975K | +3% |
| Share-based compensation | $3.7M | $2.7M | $1.1M | +40% |
| Cash used in operations | $3.2M | −$174M | $177M | — |
| Working capital & other | $78.4M | −$91.2M | $170M | — |
Questions
How much did National Energy Services Reunited's revenue grow quarter over quarter in Q3 2026?
National Energy Services Reunited's revenue fell $16.0M (-3%) from $521M in Q2 2026 to $505M in Q3 2026.
What drove National Energy Services Reunited's revenue change in Q3 2026?
Production Services −$16.8M (-5%); Drilling and Evaluation Services +$754K (+0.4%).