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Earnings Call Summary | TRICAN WELL SERVICE(TOLWF.US) Q4 2023 Earnings Conference

Futu News ·  Feb 23 09:35  · Conference Call

The following is a summary of the Trican Well Service Ltd. (TOLWF) Q4 2023 Earnings Call Transcript:

Financial Performance:

  • Trican reported Q4 revenue of $254.9 million, an increase of about 8% compared to Q4 of 2022.

  • The company generated positive earnings of $28.8 million in the quarter, or about $0.14 per share basic and 13% per share on a fully diluted basis.

  • Adjusted EBITDA was down, being $56.4 million or 22% of revenues, compared to $59.4 million or 25% of revenues in Q4 of 2022.

  • Free cash flow was $38.7 million, down from $47.1 million in Q4 2022.

  • Trican also repurchased and canceled 2.6 million shares under its NCIB program.

Business Progress:

  • Trican is expanding its cementing services and anticipates market choppiness during the summer.

  • The company follows a modernization strategy, upgrading its equipment and systems.

  • Opportunities are anticipated in the Duvernay area and with the expected commencement of facilities, a rise in LNG drilling activity is expected next year.

  • Trican's board has approved an increased dividend for the quarter.

  • The fifth Tier 4 fleet is now operational, indicating the company's ongoing efforts for infrastructure enhancement.

More details: TRICAN WELL SERVICE IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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