Recap: U.S. Well Services Q1 Earnings

Shares of U.S. Well Services USWS rose 1.1% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 31.37% year over year to ($0.35), which missed the estimate of ($0.18).

Revenue of $76,258,000 declined by 31.93% from the same period last year, which beat the estimate of $68,600,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

U.S. Well Services hasn't issued any revenue guidance for the time being.

Recent Stock Performance

Company's 52-week high was at $3.37

52-week low: $0.23

Price action over last quarter: down 50.81%

Company Overview

U.S. Well Services Inc is an oilfield service provider of well stimulation services to the upstream oil and natural gas industry. The company is engaged in high-pressure hydraulic fracturing in unconventional oil and natural gas basins in the United States. The fracturing process consists of pumping a specially formulated fluid into perforated well casing, tubing or open holes under high pressure, causing the underground formation to crack or fracture, allowing nearby hydrocarbons to flow more freely up the wellbore.