NCS Multistage(NCSM)

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NCS Multistage(NCSM) - 2024 Q3 - Earnings Call Transcript
2024-11-01 13:04
Financial Data and Key Metrics Changes - The company's Q3 2024 revenue was $44 million, a 15% increase year-over-year, and at the high end of the guided range [7][28] - Adjusted EBITDA for Q3 2024 was $7.1 million, exceeding the guided range of $5 million to $7 million, and improved by $300,000 compared to Q3 2023 [10][31] - Net income for Q3 2024 was $4.1 million or $1.60 per diluted share, while net income for the first nine months was $3.1 million or $1.21 per diluted share [12] - The adjusted gross margin for Q3 2024 was 42%, an improvement from 41% in the same quarter last year [29] Business Line Data and Key Metrics Changes - International revenue for the first nine months of 2024 was $12 million, exceeding the full year 2023 international revenue, representing 10% of total revenue, up from 5% in the same period last year [20] - U.S. revenues increased due to higher composite plug and perforating gun sales, while Canadian revenues saw a modest increase due to higher fracturing systems activity [28] Market Data and Key Metrics Changes - International revenues increased by 89% year-over-year, while U.S. revenues were up $39 million and Canadian revenues increased by 3% [28] - Sequentially, Q3 revenues increased by 48%, with Canada seeing a 139% increase, reflecting seasonal activity [29] Company Strategy and Development Direction - The company aims to build upon its leading market positions, particularly in fracturing systems and Tracer Diagnostics, to deliver unique value to customers [15][19] - NCS is focused on capitalizing on international and offshore opportunities, with strong results expected from strategic initiatives implemented in previous years [19] - The company is also working on commercializing innovative solutions to complex customer challenges, with several technology developments underway [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the North Sea and international markets, particularly in Argentina and the Middle East, where investment continues to flow into unconventional projects [21][52] - The company expects full-year revenue of $155.5 million to $159.5 million, representing an 11% increase compared to 2023 [35] - Adjusted EBITDA is expected to range from $18 million to $20.5 million, reflecting a significant year-over-year increase [36] Other Important Information - The company reported a strong balance sheet with a cash balance of $15.3 million and total liquidity exceeding $37 million [13][32] - Free cash flow for the first nine months of 2024 was $0.4 million, an improvement of $3.3 million compared to the same period last year [13] Q&A Session Summary Question: Product sales growth in U.S. and Canada - Management indicated that the sales growth is part of normal operations rather than inventory build-up [46] Question: Timing of tracer work in the Middle East - Management clarified that the tracer work is progressing on schedule, with some minor delays but no significant issues [48] Question: Future expense reduction opportunities - Management stated that they have already captured most low-hanging fruit and are focusing on ongoing cost management efforts [49] Question: 2025 market conditions - Management expects U.S. activity levels to remain consistent, with growth anticipated in the Canadian market due to pipeline developments [51] Question: Market penetration excitement - Management highlighted the expansion of well construction portfolios in the Middle East and shallow-water offshore applications as key areas of focus [58] Question: Well complexity and product demand - Management noted that increased well complexity is expected to benefit the company, with opportunities for innovation in response to operator challenges [62]
NCS Multistage(NCSM) - 2024 Q3 - Earnings Call Presentation
2024-10-31 20:04
Investor Update October 2024 Disclaimer 2 Leading Global Fnergy Technology Forward-Looking Statements The information in this presentation includes "forward-looking statements" that are subject to risks and uncertainties. All statements, other than statements of historical fact included in this presentation, regarding NCS Multistage Holdings, Inc.'s (the "Company," "NCS", "NCSM", "we" or "us") strategy, financial guidance, future operations, financial position, estimated revenues and losses, projected costs ...
NCS Multistage(NCSM) - 2024 Q3 - Quarterly Report
2024-10-31 20:04
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______ to ______ Commission file number: 001-38071 NCS Multistage Holdings, Inc. (Exact name of registrant as specified in its charter) ...
NCS Multistage(NCSM) - 2024 Q3 - Quarterly Results
2024-10-30 20:23
Exhibit 99.1 PRESS RELEASE NCS MULTISTAGE HOLDINGS, INC. ANNOUNCES THIRD QUARTER 2024 RESULTS Third Quarter Results NCS Multistage Holdings, Inc. 19350 State Highway 249, Suite 600 Houston, Texas 77070 ● Total revenues of $44.0 million, a 15% year-over-year improvement, driven in part by increased international revenues ● Net income of $4.1 million and diluted earnings per share of $1.60, compared to $4.4 million and diluted earnings per share of $1.77 one year ago ● Adjusted EBITDA of $7.1 million, a $0.3 ...
NCS Multistage Holdings, Inc. Schedules Third Quarter 2024 Earnings Release and Conference Call
GlobeNewswire News Room· 2024-10-23 20:15
HOUSTON, Oct. 23, 2024 (GLOBE NEWSWIRE) -- NCS Multistage Holdings, Inc. (“NCS” or the “Company”) (NASDAQ:NCSM) will host a conference call to discuss its third quarter 2024 results on Thursday, October 31, 2024 at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). NCS will issue its third quarter 2024 earnings release the evening prior to the conference call. The conference call will be available via a live audio webcast. Participants who wish to ask questions may register for the call here to receive the di ...
NCS Multistage(NCSM) - 2024 Q2 - Earnings Call Transcript
2024-08-02 19:40
NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Mike Morrison - Chief Financial Officer Ryan Hummer - Chief Executive Officer Conference Call Participants Dave Storms - Stonegate John Daniel - Daniel Energy Partners Operator Ladies and gentlemen, thank you for standing by. Welcome to the Second Quarter 2024 NCS Multistage Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presenta ...
NCS Multistage(NCSM) - 2024 Q2 - Quarterly Report
2024-08-01 21:01
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______ to ______ Commission file number: 001-38071 NCS Multistage Holdings, Inc. (Exact name of registrant as specified in its charter) | --- ...
NCS Multistage(NCSM) - 2024 Q2 - Quarterly Results
2024-07-31 20:30
Exhibit 99.1 PRESS RELEASE NCS Multistage Holdings, Inc. 19350 State Highway 249, Suite 600 Houston, Texas 77070 NCS MULTISTAGE HOLDINGS, INC. ANNOUNCES SECOND QUARTER 2024 RESULTS Second Quarter Results ● Total revenues of $29.7 million, a 17% year-over-year improvement, driven in part by increased international revenues ● Net loss of $(3.1) million and loss per share of $(1.21) ● Adjusted EBITDA of $0.9 million, a $3.2 million year-over-year improvement ● Cash flows from operating activities of $4.1 milli ...
NCS Multistage Holdings, Inc. Announces Second Quarter 2024 Results
GlobeNewswire News Room· 2024-07-31 20:15
Second Quarter Results Total revenues of $29.7 million, a 17% year-over-year improvement, driven in part by increased international revenues Net loss of $(3.1) million and loss per share of $(1.21) Adjusted EBITDA of $0.9 million, a $3.2 million year-over-year improvement Cash flows from operating activities of $4.1 million for the first half of 2024; free cash flow less distributions to non-controlling interest improved to $3.2 million compared to $(2.0) million for the first half of 2023 $18.6 million in ...
NCS Multistage Holdings, Inc. Schedules Second Quarter 2024 Earnings Release and Conference Call
Newsfilter· 2024-07-25 20:15
Contact: Mike Morrison Chief Financial Officer and Treasurer +1 281-453-2222 IR@ncsmultistage.com HOUSTON, July 25, 2024 (GLOBE NEWSWIRE) -- NCS Multistage Holdings, Inc. ("NCS" or the "Company") (NASDAQ:NCSM) will host a conference call to discuss its second quarter 2024 results on Thursday, August 1, 2024 at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). NCS will issue its second quarter 2024 earnings release the evening prior to the conference call. NCS Multistage Holdings, Inc. is a leading provider o ...