Calfrac Well Services (TSE:CFW) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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.
For further insights into TSE:CFW stock, check out TipRanks’ Stock Analysis page.