U.S. Well Services, Inc. (USWS) is providing pressure pumping services and electric fracture stimulation. Its exclusive electric pressure pumping platform provides preliminary electric, mobile good stimulation platforms powered by natural gas including field gas sourced from the wellhead. This technology decreases emissions and sound pollution along with the generation of exceptional operational efficiencies.
The price of USWS stock during regular trading on March 4, 2022, was $1.72 with a gain of 8.86%. At last check in the premarket on March 7, 2022, the stock further jumped by 9.88%.
USWS: Events and Happenings
On March 4, 2022, USWS reported its entry into a modification to its Senior Secured Term Loan Credit Contract letting the company take last-out term loans. Also, the company announced its entry into an agreement to provide an electric hydraulic fracturing platform to a client. It estimates to deliver a Nyx Clean Fleet to start working under this agreement starting in November 2022.
On February 18, 2022, USWS announced its entry into a partnership with Olympus Energy LLC to provide an electric pressure pumping platform. On February 7, 2022, USWS updated on its entry into a partnership with XCL Resources to deliver an electric pressure pumping platform.
On February 1, 2022, USWS informed the press about the highlight of its preliminary unaudited financial highlights for Q4 2021. The company generated total revenue of approximately $38 to $39 million during the period.
USWS: Key Financials
On November 12, 2021, USWS released its consolidated financial statement for the third quarter of 2021 ended September 30, 2021. Some of the key highlights are mentioned below.
Revenue
Revenue for the third quarter of 2021 was $56.4 million compared to $44 million in the corresponding quarter of 2020. The company observed a surge of $12.4 million in its revenue over the year. Also, it topped the analysts’ revenue estimations by $4.53 million.
EPS
Net loss per share basic and diluted in Q3 2021 was $9.5 million or $0.50 compared to $14.2 million or $0.88 in the same quarter in 2020. The company observed a significant decline in its EPS over the year. Also, it missed the EPS estimates by -$0.36.
Conclusion
USWS stock is 37% up the year-to-date period as the COVIS-19 pandemic restrictions are easing globally. The recent stock price gain by the company is the impact of its expansion of senior secured term loan facility along with an award of Nyx clean fleet. Also, the estimated EPS for the fourth quarter of 2021 is -$0.23.
