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Income Statement
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NEXTIER OILFIELD SOLUTIONS INC. (FRAC)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15Dec-31-12
   10-K10-K10-K10-K10-K10-K10-KS-1
Revenues:  
    Completion Services  1,324.91,046.31,709.92,101.01,527.3 363.8 
    WC&I  98.698.363.036.114.8   
    Well Support Services   57.948.6 7.3   
    Other        2.3 
Total revenues  1,423.41,202.61,821.62,137.01,542.1420.6366.2981.8
            Revenue growth   [+]18.4%-34.0%-14.8%38.6%266.7%14.9% 163.9%
Cost of goods sold   [+]1,255.31,032.61,403.91,660.51,282.6416.3306.6448.1
Gross profit  168.1170.0417.6476.5259.54.259.5533.8
            Gross margin  11.8%14.1%22.9%22.3%16.8%1.0%16.3%54.4%
Selling, general and administrative  109.4144.1123.7113.884.953.226.1486.0
Other operating expenses  -22.9  -14.92.6 -0.1 
EBITDA   [+]81.625.9293.9377.5172.1-48.933.547.8
            EBITDA margin  5.7%2.2%16.1%17.7%11.2%-11.6%9.1%4.9%
Depreciation  167.8289.5285.7252.8152.295.364.692.4
EBITA  -86.1-263.68.3124.719.9-144.2-31.2-44.6
            EBITA margin  -6.1%-21.9%0.5%5.8%1.3%-34.3%-8.5%-4.5%
Amortization of intangibles  16.412.66.56.37.15.74.9 
EBIT   [+]-102.5-276.21.8118.412.8-149.9-36.1-44.6
            EBIT margin  -7.2%-23.0%0.1%5.5%0.8%-35.6%-9.9%-4.5%
Non-recurring items   [+]2.755.185.520.43.5-0.23.6 
Interest expense  24.620.721.933.559.238.323.56.0
Other income (expense), net  12.16.50.5-0.914.00.9-1.51.3
Pre-tax income  -117.7-345.4-105.263.6-36.0-187.1-64.6-49.3
Income taxes  1.71.51.04.30.20.1-0.80.0
            Tax rate     6.7%  1.2%0.0%
Net income  -119.4-346.9-106.259.3-36.1-187.1-64.6-49.3
            Net margin  -8.4%-28.8%-5.8%2.8%-2.3%-44.5%-17.7%-5.0%
   
Basic EPS   [+]($0.53)($1.62)($0.86)$0.54($0.34)($2.14)($0.74) 
Diluted EPS   [+]($0.53)($1.62)($0.86)$0.54($0.34)($2.14)($0.74) 
   
Shares outstanding (basic)   [+]224.4213.8123.0109.3106.387.387.3 
Shares outstanding (diluted)   [+]224.4213.8123.0109.7106.387.387.3 
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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