Business
FLINT Announces First Quarter 2025 Financial Results
Reports Adjusted EBITDAS of $5.1 million , representing a 61% improvement from prior year ...
About this update from Flint Corp
[{"type":"text","content":"FLINT Announces First Quarter 2025 Financial Results\n\n\n\n\n Reports Adjusted EBITDAS of $5.1 million\n \n\n , representing a 61% improvement from prior year\n \n\n\n CALGARY, Alberta, May 08, 2025 (GLOBE NEWSWIRE) -- FLINT Corp. (“FLINT” or the \"Company\") (TSX: FLNT) today announced its results for the three months ended March 31, 2025. All amounts are in Canadian dollars and expressed in millions of dollars unless otherwise noted.\n \n\n “EBITDAS” and “Adjusted EBITDAS” are not standard measures under IFRS. Please refer to the Advisory regarding Non-GAAP Financial Measures at the end of this press release for a description of these items and limitations of their use.\n \n\n “Our commitment to quality execution and scaling the business has been demonstrated this quarter, as we were able to improve our operating results compared to prior year, despite the decrease in revenues. In addition, our liquidity is at an all-time high, which is a result of our improved finance performance and the significant advances made in our cash management cycle,” said Barry Card, Chief Executive Officer.\n \n\n “Activity levels in the first quarter were down slightly compared to the same period last year with revenues approximately 6% lower. Despite that, gross profit margin was $14.4 million and Adjusted EBITDAS was $5.1 million, up 11% and 61%, respectively, from the first quarter of 2024. We expect activity levels to increase in the second quarter as we execute our spring turnaround program. For the remainder of 2025, we expect activity levels to be fairly consistent with 2024, although there is increased uncertainly as to the timing of some contracts due to the current economic and geopolitical environment,\" added Mr. Card.\n \n\n\n FIRST QUARTER HIGHLIGHTS\n \n\n\n\n Revenues for the three months ended March 31, 2025 were $137.9 million, representing a decrease of $9.0 million or 6.1% from the same period in 2024.\n \n\n Gross profit for the three months ended March 31, 2025 was $14.4 million, representing an increase of $1.4 million or 10.7% from the same period in 2024. Gross profit margin for the three months ended March 31, 2025 was 10.4%, compared to 8.9% for the same period in 2024.\n \n\n Adjusted EBITDAS for the three months ended March 31, 2025 was $5.1 million, repre...