National Energy Services Reunited Corp.
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 2026
NESR$20.38+4.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In US$ thousands)
| For the nine-month period ended | ||
|---|---|---|
| Description | September 30, 2026 | September 30, 2025 |
| Cash flows from operating activities: | ||
| Net income | $102,172 | $43,329 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 106,966 | 106,480 |
| Share-based compensation expense | 8,910 | 5,747 |
| (Gain) on disposal of assets | (2,506) | (4,271) |
| Non-cash interest expense | 597 | 983 |
| Deferred tax expense (benefit) | 2,928 | (1,497) |
| Allowance for doubtful receivables and unbilled revenue | 2,945 | 694 |
| Charges on obsolete service inventories | 3,141 | 1,161 |
| Impairments and other charges | 2,850 | 1,492 |
| Other operating activities, net | 104 | 399 |
| Changes in operating assets and liabilities: | ||
| (Increase) decrease in accounts receivable | (87,207) | (56,198) |
| (Increase) decrease in unbilled revenue | (100,093) | (14,600) |
| (Increase) decrease in retention withholdings | (8,533) | 12,491 |
| (Increase) decrease in inventories | (56,536) | (2,161) |
| (Increase) decrease in prepaid assets | (12,940) | (6,532) |
| (Increase) decrease in other current assets | 5,077 | (17,771) |
| (Increase) decrease in other long-term assets and liabilities | 5,045 | (1,105) |
| Increase (decrease) in accounts payable and accrued expenses | 224,882 | 63,923 |
| Increase (decrease) in other current liabilities | 3,735 | (6,912) |
| Net cash provided by operating activities | 201,537 | 125,652 |
| Cash flows from investing activities: | ||
| Capital expenditures | (152,819) | (100,620) |
| IPM investments (Note 2) | - | - |
| Proceeds from disposal of assets | 2,229 | 2,086 |
| Other investing activities | (4,333) | (8,250) |
| Net cash used in investing activities | (154,923) | (106,784) |
| Cash flows from financing activities: | ||
| Proceeds from long-term debt | - | - |
| Repayments of long-term debt | (48,375) | (52,610) |
| Proceeds from short-term borrowings | 73,349 | 75,711 |
| Repayments of short-term borrowings | (68,626) | (74,217) |
| Payments on capital leases | (4,026) | (2,778) |
| Payments on seller-provided financing for capital expenditures | (5,228) | (1,650) |
| Other financing activities, net | - | (1,597) |
| Net cash used in financing activities | (52,906) | (57,141) |
| Effect of exchange rate changes on cash | - | - |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (6,292) | (38,273) |
| Cash, cash equivalents, and restricted cash, beginning of period | 132,696 | 107,956 |
| Cash, cash equivalents, and restricted cash, end of period (Note 2) | $126,404 | $69,683 |
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