Calfrac Well Services Hits Record Profits

Calfrac Well Services (TSE:CFW) has released an update.

Calfrac Well Services Ltd. celebrated a record-breaking year with an all-time high annual net income of $197.6 million and an Adjusted EBITDA of $325 million, marking substantial financial growth. The company significantly reduced its long-term debt, achieving the lowest net debt to Adjusted EBITDA ratio in recent years, and improved asset quality by introducing two new fracturing fleets in North America. Amidst these financial strides, Calfrac also successfully lowered its Total Recordable Injury Frequency rate, underscoring its commitment to safety and operational efficiency.

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