The following is a summary of the CES Energy Solutions Corp. (CESDF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• CES Energy Solutions reported record Q3 revenue of $607 million, up 13% from the previous year, with EBITDA of $103 million, a 28% improvement year-over-year.

• Free cash flow was $40.1 million for the quarter, with year-to-date free cash flow totaling $152.3 million.

• Debt levels were well managed, with a total debt to trailing 12 months EBITDA at 1.14 times.

Business Progress:

• CES continues to lead in market share with notable performance in North America, achievied 25% market share in land rigs.

• The company is focusing on strategic acquisitions like the Hydrolite purchase, and expanding its product lineup, particularly in high-margin sectors like offshore projects in the Gulf of Mexico.

Opportunities:

• The company anticipates revenue growth and has budgeted an increase in capital expenditures to $85 million in 2024 to support this expansion.

• CES is well-positioned to benefit from the increase in infrastructure projects and associated capacities starting in 2024 and continuing into 2025.

Risks:

• The fluctuation in U.S. industry rig counts poses a potential risk, although CES maintains a steady performance in this category.

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