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• Revenue: $275.5 million for Q4 2024.

• Adjusted EBITDA: $55.6 million or 20% of revenues.

• Net Income: $27.6 million, translating to $0.14 per share.

• Free Cash Flow: $33.9 million during the quarter.

• Capital Expenditures (CapEx): $18.7 million, with $14.2 million for maintenance and $4.5 million for upgrades.

• Approved Capital Budget for 2025: $70 million.

• Working Capital: Approximately $128 million, including $26 million in cash.

• Share Repurchase: $3.1 million shares repurchased and canceled in Q4 2024.

• Dividend: $0.05 per share, reflecting an 11% increase.

• Fracturing Division Revenue: Up 17% year over year in Q4.

• Cementing Division Market Share: About 35% in the basin, up to 80% in specific areas.

• Coil Tubing Revenue: Up 12% year over year in Q4, with EBITDA up almost 80%.

• Warning! GuruFocus has detected 5 Warning Signs with NMAKF.

Release Date: February 20, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Trican Well Service Ltd (TOLWF) reported solid Q4 2024 results with revenues of $275.5 million and adjusted EBITDA of $58.6 million, maintaining a strong performance despite market challenges.

• The company generated positive earnings of $27.6 million in the quarter, translating to $0.14 per share, and free cash flow of $33.9 million.

• Trican Well Service Ltd (TOLWF) is undertaking a significant technology modernization initiative, including the implementation of an integrated ERP platform and enhancements in artificial intelligence and data analytics.

• The company has a strong balance sheet with positive working capital of approximately $128 million, including $26 million in cash.

• Trican Well Service Ltd (TOLWF) increased its quarterly dividend by 11% to $0.05 per share, reflecting confidence in its financial stability and commitment to shareholder returns.

Negative Points

• Adjusted EBITDA margin decreased slightly from 22% in Q4 2023 to 21% in Q4 2024, indicating some pressure on profitability.

• The company faces potential challenges from the introduction of US tariffs on oil and gas imports from Canada, which could impact costs and activity levels.

• There is concern about the impact of retaliatory tariffs from Canada on US goods, particularly sand, which could increase costs by approximately $15 per ton.

• Pricing pressure was experienced in Q4 2024 due to competitive market conditions, although this has subsided in early 2025.

• The company anticipates a slower Q1 2025 compared to Q1 2024, with similar revenue levels but increased costs due to exchange rate fluctuations.