Calfrac Well Services (TSE:CFW) has released an update.
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Calfrac Well Services Ltd. experienced a decline in its first-quarter financial performance for 2024, with revenue and adjusted EBITDA significantly lower than the previous year, largely due to decreased North American utilization and low natural gas prices. Despite this, the company has improved its safety record, achieving the lowest TRIF in recent history. CEO Pat Powell remains optimistic about the upcoming year, anticipating a rebound in utilization in North America and Argentina to deliver robust returns to shareholders.
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