Positive Earnings and Cash Flow
Trican generated positive earnings of CAD31.9 million in the quarter, translating to $0.17 per share, and free cash flow of CAD43 million.
Strong Cementing Division Performance
The cementing division maintained high utilization and market share, particularly in technical plays like the Duvernay, where it has a 75% market share.
Coil Division Revenue Record
Q1 was the largest revenue quarter for the coil division with utilization over 70% and downtime of only 1.6%.
Share Buyback Program
Repurchased and canceled 2.5 million shares in Q1, 6.6 million subsequent to Q1, totaling 11.7 million shares, representing 61% of the 2024-'25 NCIB program.
Technological Advancements
Ongoing investments in electrification of equipment and technology modernization, with a capital budget of CAD70.2 million for maintenance and growth initiatives.