National Energy Services Reunited Corp. (NASDAQ: NESR) shares rose 3.46% in Tuesday trading following the release of financial results for the fourth quarter and full year ended December 31, 2025.
Fourth Quarter Results
For the fourth quarter ended December 31, 2025, National Energy Services Reunited Corp. reported consolidated revenue of $398.3 million. This represents a 15.9% increase compared to the $343.7 million reported in the fourth quarter of 2024. GAAP net profit for the period was $7.8 million, a decrease from the $26.8 million recorded in the prior year’s corresponding quarter. Adjusted EBITDA for the quarter was $84.4 million, a 3.2% year-over-year contraction from $87.2 million.
Segment Highlights:
- Production Services: Revenue growth was driven by the mobilization of unconventional completions equipment and increased hydraulic fracturing activity in Middle East markets.
- Drilling and Evaluation Services: Performance was supported by the mobilization of recently awarded contracts and increased rig utilization.
Financial Trends
Full Year Results Context
For the full fiscal year 2025, National Energy Services Reunited Corp. recorded total revenue of $1.324 billion. This indicates a growth trend compared to the $1.134 billion reported in the fiscal year 2024. Annual net income was $51.1 million, compared to $76.3 million in the previous year. The figures reflect revenue expansion alongside a contraction in net profit margin attributed to non-cash charges.
Business & Operations Update
The company confirmed the mobilization of integrated unconventional completions for the Jafurah development project. Operational restructuring of service lines in Oman was completed during the fourth quarter. The company also announced the commissioning of an industrial artwork project using recycled produced water as part of its environmental initiatives.
M&A or Strategic Moves
The company focused on debt reduction throughout the year. Net debt was reduced to $185.3 million as of December 31, 2025, a decrease from $274.9 million at the end of 2024. No new acquisitions or divestitures were announced in the current disclosure.
Equity Analyst Commentary
Institutional research notes that quarterly adjusted earnings of $0.32 per share exceeded consensus estimates of $0.26 per share. Reported revenue of $398.3 million surpassed the forecasted $368.5 million. The stock maintains a consensus hold rating among covering institutions.
Guidance & Outlook
Management indicated that mobilization of unconventional fleets in the MENA region will continue through the first half of 2026. Key factors to watch include the expansion of the Jafurah gas field and the stabilization of operating margins. The company is focusing on scaling its operational footprint in Saudi Arabia and Kuwait.
Performance Summary
National Energy Services Reunited Corp. shares rose 3.46% following the publication of results. Revenue for the fourth quarter grew 15.9% year-over-year to $398.3 million. Annual revenue reached $1.324 billion, while net income for the year was $51.1 million. The company reduced its net debt by approximately $90 million during the 2025 fiscal year.