Trican Well ( (TOLWF) ) has released its Q4 earnings. Here is a breakdown of the information Trican Well presented to its investors.
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Trican Well Service Ltd., based in Calgary, Alberta, provides oil and natural gas well servicing equipment and solutions, specializing in hydraulic fracturing, cementing, coiled tubing, and nitrogen services primarily in Western Canada.
Trican Well Service Ltd. announced its annual results for 2024, highlighting a modest increase in revenue despite challenges in the natural gas market. The company’s board also approved an 11% increase in its quarterly dividend, reflecting confidence in its financial strategy.
The company reported a revenue of $980.8 million for 2024, marking a slight 1% improvement from the previous year. However, adjusted EBITDAS and EBITDA saw a decline to $231.2 million and $219.2 million, respectively. Profit for the year stood at $109.5 million, down from $121.0 million in 2023. Trican also focused on shareholder returns, distributing $130.6 million through dividends and share buybacks.
Trican is continuing its strategy of returning capital to shareholders through its Normal Course Issuer Bid program, having repurchased 21 million shares. The company is also investing in technological modernization, with a budget of $70 million set for maintenance and growth initiatives in 2025, which includes advancements in electric ancillary fracturing equipment.
Looking ahead, Trican’s management remains optimistic about market fundamentals in Western Canada, especially with new oil and gas export capacities. Despite geopolitical uncertainties, the company anticipates modest growth in the Canadian oilfield activity, expecting to leverage its position in the pressure pumping sector to continue delivering value to shareholders.
