An announcement from Bri-Chem ( (TSE:BRY) ) is now available.
Bri-Chem Corp. reported a significant decline in its financial performance for the fourth quarter of 2024, with consolidated sales dropping by 23% to $20.6 million due to decreased U.S. drilling activity. The company’s adjusted EBITDA and operating earnings also saw substantial decreases, alongside a notable reduction in working capital, which was impacted by a loan classification change. Despite these challenges, Bri-Chem received a waiver for a covenant breach from its lender, indicating ongoing financial adjustments and potential future stability.
More about Bri-Chem
Bri-Chem Corp. is a leading North American company specializing in the distribution and blending of oilfield chemicals. The company focuses on providing essential products for the oil and gas industry, with a significant presence in both the Canadian and U.S. markets.
YTD Price Performance: -11.11%
Average Trading Volume: 16,682
Technical Sentiment Signal: Buy
Current Market Cap: C$8.46M
For a thorough assessment of BRY stock, go to TipRanks’ Stock Analysis page.