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National Energy Services Reunited Corp. Reports Second Quarter 2021 Financial Results Exhibit 99.1 • Revenue for the second quarter of 2021 is $ 235 million , growing 16 % year - over - year and 11 % over the sequential quarter • Free cash flow ( a non - GAAP measure ) for the second quarter of 2021 is $ 12 million * • Net Income for the second quarter of 2021 is $ 8 million • Adjusted Net Income ( a non - GAAP measure ) for the second quarter of 2021 is $ 13 million * Adjusted EBITDA ( a non - GAAP measure ) is $ 54 million , an increase of 7 % over the sequential quarter and 3 % year - over - year * Diluted Earnings per Share ( EPS ) for the second quarter of 2021 is $ 0.08 • Adjusted Diluted EPS ( a non - GAAP measure ) , which includes $ 0.06 per share of Charges and Credits , for the second quarter of 2021 is $ 0.14 * HOUSTON , August 4 , 2021 - National Energy Services Reunited Corp. ( " NESR ” or the “ Company ” ) ( NASDAQ : NESR ) ( NASDAQ : NESRW ) , a national , industry - leading provider of integrated energy services in the Middle East and North Africa ( " MENA " ) and Asia Pacific regions , today reported its financial results for the quarter ended June 30 , 2021. The Company posted the following results for the periods presented : Three Months Ended Variance ( in thousands except per share amounts June 30 , March 31 , and percentages ) 2021 2021 June 30 , 2020 Year - over- Sequential year Revenue $ 234,927 $ 212,426 $ 203,249 11 % 16 % Net income 7,821 11,472 10,514 ( 32 ) % ( 26 ) % Adjusted net income ( non - GAAP ) * 12,817 13,677 12,342 ( 6 ) % 4 % Adjusted EBITDA ( non - GAAP ) * 53,607 50,221 51,841 7 % 3 % Diluted EPS 0.08 0.13 0.12 ( 38 ) % ( 33 ) % Adjusted Diluted EPS ( non - GAAP ) * Free cash flow ( non - GAAP ) * 0.14 11,663 0.15 0.14 ( 7 ) % - % 35,240 15,948 $ ( 23,577 ) $ ( 4,285 ) * The Company presents its financial results in accordance with generally accepted accounting principles in the United States of America ( " GAAP ” ) . However , management believes that using additional non - GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations . Please see Tables 1 , 2 , 3 , 4 , 5 and 6 below for reconciliations of GAAP to non - GAAP financial measures . Sherif Foda , Chairman of the Board and CEO of NESR said , “ The second quarter was another milestone in which we continued to outpace market growth and prepared for the long international upcycle . We are very proud to have published our inaugural ESG report ( https://www.nesr.com/assets/NESR-2020-ESG-Report.pdf ) , which highlights our core values and demonstrates our strength as the true National Champion of MENA , with clear , positive impact to the communities and environments where we operate . We always strive to play a significant role in enabling our industry to continue to be the most reliable provider of energy to the world in a sustainable and responsible fashion , and I am excited for the opportunities our flagship water projects and newly formed ESG IMPACT Segment provide . " Mr. Foda continued , “ Separately , NESR successfully integrated the operations of the three oilfield service lines that we acquired from Action Energy Company W.L.L. ( “ Action ” ) in early May 2021. The initial payment to Action was substantially funded by available cash from operations , and the transaction further solidifies our rapidly growing presence in Kuwait . "