Nine Energy Service Previous Full-year 2024 Capex Guidance Of $15M-$25M Updated To $10M-$15M
Portfolio Pulse from Benzinga Newsdesk
Nine Energy Service has updated its full-year 2024 capital expenditure guidance from $15M-$25M to $10M-$15M. The company reported $12.9M in net cash from operating activities and $2.5M in capital expenditures for Q2 2024, totaling $8.1M for the first half of 2024.
August 05, 2024 | 9:19 pm
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Nine Energy Service has reduced its full-year 2024 capital expenditure guidance from $15M-$25M to $10M-$15M. The company reported $12.9M in net cash from operating activities and $2.5M in capital expenditures for Q2 2024, totaling $8.1M for the first half of 2024.
The reduction in capex guidance suggests a more conservative approach to spending, which could be seen as a positive or negative depending on investor sentiment. The reported net cash from operations and capex figures provide a clearer picture of the company's financial health.
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