Increased Revenue in Key Segments
Consolidated third quarter revenue increased by 8% year-over-year. CPS segment revenue increased by $15.2 million, Well Servicing by $6.2 million, and RTS segment by $1.6 million.
Strong Financial Position
Total Energy had $115.5 million of positive working capital, including $57.1 million of cash, with a low bank debt to EBITDA ratio of 0.25.
Australian Market Success
A 32% increase in Australian operating days and a 162% increase in Australian operating income for Well Servicing. The active Australian drilling rig count reached a record of 13.
Record Fabrication Sales Backlog
The fabrication sales backlog increased by $76.9 million or 25% to $380.8 million, providing visibility into the second half of 2026.