Filing Flows › National Energy Services Reunited (NESR) › How it makes money
How National Energy Services Reunited (NESR) makes money
National Energy Services Reunited (NESR) made $521M of revenue in the second quarter 2026 (Q2 2026), +59% from a year earlier. Production Services brought in $330M (63%); Drilling and Evaluation Services brought in $191M (37%). Of every dollar of revenue, 16¢ was left as gross profit, 12¢ was left as operating profit, 8¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Production Services | $330M | 63.3% | +37% | +61% |
| Drilling and Evaluation Services | $191M | 36.7% | +17% | +56% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $521M | 100.0% |
| Cost of revenue | $439M | 84.4% |
| Gross profit | $81.3M | 15.6% |
| Operating expenses | $16.5M | 3.2% |
| Operating profit | $64.8M | 12.5% |
| Income tax | $14.9M | 2.9% |
| Net earnings | $44.0M | 8.5% |
| Operating cash flow | $174M | 33.4% |
| Free cash flow | $99.9M | 19.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $521M | +59% |
| Q1 2026 | $405M | +34% |
| Q4 2025 | $398M | +16% |
From National Energy Services Reunited's 10-Q filed Aug 10, 2026 (on EDGAR).
Questions
How does National Energy Services Reunited make money?
National Energy Services Reunited (NESR) made $521M of revenue in the second quarter 2026 (Q2 2026), +59% from a year earlier. Production Services brought in $330M (63%); Drilling and Evaluation Services brought in $191M (37%). Of every dollar of revenue, 16¢ was left as gross profit, 12¢ was left as operating profit, 8¢ was left as net earnings.
What is National Energy Services Reunited's biggest business?
Production Services: $330M in the second quarter 2026, 63% of revenue, +61% from a year earlier.
What is National Energy Services Reunited's profit margin?
Net earnings were $44.0M, 8.5% of revenue, in the second quarter 2026; the operating margin was 12.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.