January 7, 2020 / 6:17 PM / 10 days ago

Oilfield services firm NexTier raises earnings, revenue outlook

(Reuters) - NexTier Oilfield Solutions (NEX.N) on Tuesday raised its fourth quarter earnings and revenue guidance, according to a presentation at a Miami energy conference.

The company, which recently changed its name following the combination of Keane Group and C&J Energy Services, said better-than-anticipated results were due to an absence of major weather issues, customer partnerships and efficiency gains.

The third largest U.S. provider of hydraulic fracturing services raised its pre-tax earnings outlook to $73-$78 million from $60-$75 million and revenue to $640-$660 million from $600-$650 million, according to a presentation at the Goldman Sachs Global Energy Conference.

Reporting by Liz Hampton in Denver; Editing by Chizu Nomiyama

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