Stampede Drilling Reports Mixed 2023 Financials

Stampede Drilling (TSE:SDI) has released an update.

Stampede Drilling Inc. has reported a mixed financial outcome for the year 2023, with a record Q4 Adjusted EBITDA increase of 10% despite an 8% revenue drop and a 7% decrease in net income due to higher depreciation costs and asset disposition losses. The company also improved its gross margin by 5% and repurchased 5.58% of its common shares, while significantly boosting its free cash flow and reducing its debt-to-EBITDA ratio.

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