PHX Energy Services (TSE:PHX) has released an update.
PHX Energy Services reports a robust first quarter in 2024 with revenues reaching $166.1 million, marking the second highest in the company’s history, driven by strong performance in the Canadian market. Adjusted EBITDA stood at $35 million, accounting for 21% of consolidated revenue, despite a notable decline in the US rig count. The company also paid out higher dividends at $9.5 million, a 24% increase from the previous year, showcasing financial strength and commitment to shareholder returns.
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