Business
Enterprise Group Announces Results for First Quarter 2025
St. Albert, Alberta--(Newsfile Corp. - May 8, 2025) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETO...
About this update from Enterprise Group, Inc.
[{"type":"text","content":"Enterprise Group Announces Results for First Quarter 2025St. Albert, Alberta--(Newsfile Corp. - May 8, 2025) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the \"Company\" or \"Enterprise\"), a consolidator of energy services (including specialized equipment and services to the energy/resource sector), emphasizes technologies that mitigate, reduce, or eliminate CO2 and Green House Gas (GHG) and other harmful emissions for small local and Tier One resource clients, is pleased to announce its Q1 2025 results.OVERALL PERFORMANCE AND RESULTS OF OPERATIONSThree months March 31,2025Three months March 31,2024Revenue$10,328,085 $12,326,288 Gross margin$5,175,34350%$6,896,34456%Adjusted EBITDA(1)$4,415,85543%$6,337,85351%Net income and comprehensive income$2,977,898 $3,991,514 Income per share - Basic$0.04 $0.08 Income per share - Diluted$0.04 $0.07  (1) Identified and defined under \"Non-IFRS Measures\".Activity levels increased for the first quarter of 2025 compared to the fourth quarter of 2024, returning to levels consistent with the first quarter of 2024 with gross margin and EBITDA returning to near historic levels at 50% and 43% respectively. Revenue for the three months ended March 31, 2025, was $10,328,085 compared to $12,326,288 in the prior period, a decrease of $1,998,203 or 16%. Gross margin for the three months ended March 31, 2025, was $5,175,343 compared to $6,896,344 in the prior period, a decrease of $1,721,001 of 25%. Adjusted EBITDA for the three months ended March 31, 2025, was $4,415,855 compared to $6,337,853 in the prior period, a decrease of $1,921,998 or 30%. These lower amounts are largely due to a natural gas infrastructure project which ended in Q1 2024. For the three months ended March 31, 2025, the Company generated cash flow from operations of $5,032,037 compared to $5,659,665 in the prior period. This change is consistent with revenue levels during the period. The Company continues to utilize a combination of cash flow, debt and equity to right-size and modernize its equipment fleet to meet customer demands. During the three months March 31, 2025, the Company acquired $5,855,510 of capital assets, primarily for growth in natural gas power systems and diversifying the Company's infrastructure rental fleet to support customer demand.On May 7, 2025, Enterprise ...