PHX Energy Services (TSE:PHX) has released an update.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
PHX Energy Services reported a slight decline in consolidated revenue for the third quarter of 2024, mainly due to reduced motor rental and equipment sales, despite a lower rig count in the US. The Canadian division also faced a revenue dip, impacted by weak natural gas prices and reduced client activity. Overall, the company experienced decreased profitability due to diminished activity in its high-margin revenue streams.
For further insights into TSE:PHX stock, check out TipRanks’ Stock Analysis page.
