Company Reports Q1 Revenue of $1.02B, Beating Expectations

Reports Q1 revenue $1.02B, consensus $988.5M. "During the first fiscal quarter, the Company executed with discipline, delivering strong operational and financial results across all business segments. These results demonstrate our ability to generate consistent operational performance and advance our strategic priorities in a dynamic market environment," commented CEO John Lindsay. "Our NAS segment continued to hold its industry-leading position, supported by solid financial performance and strong execution. With a presence across all major U.S. basins, the team continued to deliver reliable, high-quality solutions that support customer programs. We effectively managed basin-level activity churn, including in the Permian, where we maintain leading market share by delivering reliable results and differentiated offerings. Notably, our new FlexRoboticsTM Technology was successfully deployed on a rig for a Super Major in the Permian Basin, supporting the drilling of multiple pads and delivering strong, reliable rig-floor performance. We are seeing growing customer interest in adding additional units to the fleet. Also significant, NAS technology adoption continues to increase year-over-year, with deployment now occurring on nearly every active rig. As customers continue to recognize the efficiencies these technologies provide, we expect adoption to remain strong and further deepen alignment with our customers. For our International Solutions segment, the first fiscal quarter marked continued progress in advancing our global strategy and bringing U.S. unconventional expertise to key international markets," Lindsay said. "With rig reactivations underway in Saudi Arabia, we expect startups to be completed by mid-2026. Discussions with national and international oil companies across our core regions remain encouraging, reinforcing our confidence in the value our drilling solutions deliver worldwide."