NexTier Oilfield Solutions Inc. (NEX) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
3990 ROGERDALE RD. HOUSTON, TX 77042 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 1389 - Oil and Gas Field Services, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 218,501 | 230,876 | 262,607 | 170,536 | 99,788 | 115,995 | |||
| Cash and cash equivalent | 218,501 | 218,476 | 250,207 | 158,136 | 99,788 | 110,695 | |||
| Short-term investments | 12,400 | 12,400 | 12,400 | 5,300 | |||||
| Receivables | 487,905 | 397,197 | 479,669 | 456,632 | 391,682 | 301,740 | |||
| Inventory, net of allowances, customer advances and progress billings | 66,261 | 66,395 | 60,008 | 57,229 | 50,948 | 38,094 | |||
| Inventory | 66,261 | 66,395 | 60,008 | 57,229 | 50,948 | 38,094 | |||
| Asset, held-for-sale, not part of disposal group | 8,727 | 910 | 1,555 | ||||||
| Other undisclosed current assets | 40,936 | 31,547 | 41,133 | 33,629 | 47,414 | 50,325 | |||
| Total current assets: | 813,603 | 726,015 | 843,417 | 726,753 | 590,742 | 507,709 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 79,324 | 43,714 | 45,262 | 45,616 | 41,875 | 41,537 | |||
| Operating lease, right-of-use asset | 26,471 | 18,659 | 17,487 | 17,369 | 20,541 | 21,767 | |||
| Property, plant and equipment | 764,310 | 679,513 | 636,951 | 603,343 | 613,163 | 620,865 | |||
| Intangible assets, net (including goodwill) | 241,175 | 243,366 | 245,897 | 250,221 | 254,926 | 257,741 | |||
| Goodwill | 192,780 | 192,780 | 192,780 | 192,780 | 192,780 | 192,780 | |||
| Intangible assets, net (excluding goodwill) | 48,395 | 50,586 | 53,117 | 57,441 | 62,146 | 64,961 | |||
| Deferred income tax assets | 107,426 | ||||||||
| Other noncurrent assets | 13,611 | 15,901 | 13,310 | 10,904 | 11,131 | 7,962 | |||
| Total noncurrent assets: | 1,232,317 | 1,001,153 | 958,907 | 927,453 | 941,636 | 949,872 | |||
| TOTAL ASSETS: | 2,045,920 | 1,727,168 | 1,802,324 | 1,654,206 | 1,532,378 | 1,457,581 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 569,796 | 484,651 | 576,273 | 541,619 | 478,426 | 404,886 | |||
| Accounts payable | 335,417 | 202,936 | 288,293 | 260,217 | 239,769 | 190,963 | |||
| Accrued liabilities | 234,379 | 281,715 | 287,980 | 281,402 | 238,657 | 213,923 | |||
| Deferred revenue | 19,377 | 19,377 | 23,538 | 21,538 | 21,288 | 23,729 | |||
| Debt | 68,495 | 33,859 | 32,110 | 28,284 | 25,637 | 25,290 | |||
| Other liabilities | 7,572 | 9,368 | 11,277 | 13,440 | 8,801 | 10,346 | |||
| Other undisclosed current liabilities | 8,588 | 6,083 | 5,324 | 5,481 | 6,440 | 7,452 | |||
| Total current liabilities: | 673,828 | 553,338 | 648,522 | 610,362 | 540,592 | 471,703 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 354,067 | 359,350 | 381,144 | 390,544 | 402,263 | 408,820 | |||
| Long-term debt, excluding current maturities | 343,895 | 347,425 | 350,986 | 354,503 | 358,034 | 361,501 | |||
| Finance lease, liability | 10,172 | 11,925 | 17,335 | 23,585 | 24,749 | 26,873 | |||
| Liabilities, other than long-term debt | 29,909 | 24,561 | 9,732 | 9,217 | 23,838 | 30,041 | |||
| Other liabilities | 12,642 | 11,294 | 9,732 | 9,217 | 23,838 | 30,041 | |||
| Operating lease, liability | 17,267 | 13,267 | 12,823 | 12,456 | 19,480 | 20,446 | |||
| Total noncurrent liabilities: | 383,976 | 383,911 | 390,876 | 399,761 | 426,101 | 438,861 | |||
| Total liabilities: | 1,057,804 | 937,249 | 1,039,398 | 1,010,123 | 966,693 | 910,564 | |||
| Equity | |||||||||
| Equity, attributable to parent | 988,116 | 789,919 | 762,926 | 644,083 | 565,685 | 547,017 | |||
| Common stock | 2,305 | 2,340 | 2,455 | 2,442 | 2,439 | 2,420 | |||
| Additional paid in capital | 952,951 | 1,007,492 | 1,113,380 | 1,105,006 | 1,097,863 | 1,094,020 | |||
| Accumulated other comprehensive income (loss) | 5,062 | 6,282 | 6,271 | 549 | (2,245) | (8,259) | |||
| Retained earnings (accumulated deficit) | 27,798 | (226,195) | (359,180) | (463,914) | (532,372) | (541,164) | |||
| Total equity: | 988,116 | 789,919 | 762,926 | 644,083 | 565,685 | 547,017 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,045,920 | 1,727,168 | 1,802,324 | 1,654,206 | 1,532,378 | 1,457,581 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 935,672 | 870,857 | 896,010 | 842,912 | 635,043 | 509,730 | ||
| Cost of revenue | (673,944) | (632,890) | (682,683) | (649,866) | (524,656) | (423,647) | ||
| Other undisclosed gross profit | 504 | |||||||
| Gross profit: | 261,728 | 237,967 | 213,327 | 193,046 | 110,387 | 86,587 | ||
| Operating expenses | (102,257) | (94,171) | (111,007) | (117,465) | (99,431) | (201,935) | ||
| Other undisclosed operating income | 130,896 | |||||||
| Operating income: | 159,471 | 143,796 | 102,320 | 75,581 | 10,956 | 15,548 | ||
| Nonoperating income (expense) | (6,478) | 19,171 | 3,974 | (5,883) | (2,004) | 19,651 | ||
| Other nonoperating income (expense) | (280) | 11,124 | 1,461 | 5,370 | ||||
| Interest and debt expense | (6,198) | (6,514) | (7,150) | (7,344) | (7,374) | (7,976) | ||
| Income from continuing operations before equity method investments, income taxes: | 146,795 | 156,453 | 99,144 | 62,354 | 1,578 | 27,223 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 6,198 | (21,868) | 7,150 | 7,344 | 7,374 | (16,633) | ||
| Income from continuing operations before income taxes: | 152,993 | 134,585 | 106,294 | 69,698 | 8,952 | 10,590 | ||
| Income tax expense (benefit) | 101,000 | (1,600) | (1,560) | (1,240) | (160) | 264 | ||
| Income from continuing operations: | 253,993 | 132,985 | 104,734 | 68,458 | 8,792 | 10,854 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 104,734 | 68,458 | 8,792 | 10,854 | |
| Net income available to common stockholders, diluted: | 253,993 | 132,985 | 104,734 | 68,458 | 8,792 | 10,854 | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 253,993 | 132,985 | 104,734 | 68,458 | 8,792 | 10,854 | ||
| Other undisclosed comprehensive income | 14,541 | 4,851 | ||||||
| Comprehensive income: | 253,993 | 147,526 | 104,734 | 68,458 | 8,792 | 15,705 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (562) | (14,244) | 5,458 | 2,103 | 5,327 | (3,959) | ||
| Comprehensive income, net of tax, attributable to parent: | 253,431 | 133,282 | 110,192 | 70,561 | 14,119 | 11,746 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.