National Energy Services Reunited Corp (NASDAQ:NESR) reported fourth-quarter 2025 results on Tuesday that topped analyst forecasts, supported by solid revenue growth and improved operational performance.
Shares of the Middle East and North Africa-focused energy services provider gained 3.46% in pre-market trading following the announcement.
Adjusted earnings per share for the quarter ended December 31, 2025 came in at $0.32, ahead of the $0.25 consensus estimate. Revenue totaled $398.3 million, exceeding expectations of $368.54 million. The figure marked a 34.9% increase from the prior quarter and a 15.9% rise compared with the same period last year.
“We are very pleased with our fourth quarter results, which cap another year of disciplined execution and strategic progress for NESR,” said Sherif Foda, Chairman and Chief Executive Officer. “As we enter 2026, NESR is shifting to a totally different gear and scale, operating from a position of strength.”
Adjusted EBITDA reached $84.4 million for the quarter, up 32% sequentially. However, net income declined to $7.8 million from $17.7 million in the third quarter, reflecting non-cash impairment charges and restructuring expenses.
For full-year 2025, free cash flow totaled $120.8 million, allowing the company to reduce net debt to $185.3 million — nearly $90 million lower than a year earlier.
Chief Financial Officer Stefan Angeli said the quarter was “highlighted by a sharp sequential acceleration in activity, disciplined cost execution, and continued balance sheet strengthening,” adding that the company is positioned for its “next phase of growth with record revenues, strong operational momentum, and a clear focus on delivering durable, long-term value to shareholders.”