Business
DAWSON GEOPHYSICAL REPORTS FIRST QUARTER 2026 RESULTS
Dawson Geophysical Company (NASDAQ: DWSN) (the "Company") today reported unaudited financial results for its first quarter ended March 31, 2026.
About this update from Dawson Geophysical Company
[{"type":"text","content":"MIDLAND, Texas, May 14, 2026 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ: DWSN) (the "Company") today reported unaudited financial results for its first quarter ended March 31, 2026.","length":199,"tagName":"p"},{"type":"text","content":"First quarter 2026 Highlights","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Recognized fee revenue of $32.5 million, an 113% increase over the first quarter of 2025","length":88,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income of $7.7 million, $0.25 per share","length":43,"tagName":"p"}]},{"val":[{"type":"text","content":"Generated Adjusted EBITDA of $10.9 million, an 364% increase over the first quarter of 2025","length":91,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":222,"olType":false},{"type":"text","content":"Adjusted EBITDA is a non-GAAP measure. See "Supplemental Non-GAAP Financial Measures" below for our definition and reconciliation of Adjusted EBITDA.","length":159,"tagName":"p"},{"type":"text","content":"Management Comment","length":18,"tagName":"p"},{"type":"text","content":"Tony Clark, Dawson's President and CEO, commented, "We received our final delivery of the single node channels at the beginning of the year, and all of the new equipment purchased was fully utilized throughout the first quarter in our operations in the United States and Canada. Additionally, we had three additional crews deployed with our legacy equipment in the first quarter. High equipment utilization resulted in significant growth in our revenues and net income. We are continuing to identify areas of improvement in the deployment of the new single node channels, and we expect that to result in further operational efficiencies in the future. Our financial performance in the first quarter shows the opportunity currently available for this Company, and we believe that we are positioned to capitalize on that opportunity."","length":846,"tagName":"p"},{"type":"text","content":"First Quarter Results","length":21,"tagName":"p"},{"type":"text","content":"For the first quarter ended March 31, 2026, the Company reported revenues of $36.7 million, an increase of 128% compared to $16.1 million for the comparable quarter ended March 31, 2025. Revenue included reimbursable revenue of $4.2 million and $0.8...