Business
Trican Reports First Quarter Results for 2025 and Declares Quarterly Dividend
Calgary, Alberta--(Newsfile Corp. - May 12, 2025) - Trican Well Service Ltd. (TSX: TCW) ("Trican"...
About this update from Trican Well Service Ltd.
[{"type":"text","content":"Trican Reports First Quarter Results for 2025 and Declares Quarterly DividendCalgary, Alberta--(Newsfile Corp. - May 12, 2025) - Trican Well Service Ltd. (TSX: TCW) (\"Trican\" or the \"Company\") is pleased to announce its first quarter results for 2025. The following news release should be read in conjunction with Management's Discussion and Analysis (\"MD&A\"), the unaudited interim consolidated financial statements and related notes for the three months ended March 31, 2025, as well as the Annual Information Form (\"AIF\") for the year ended December 31, 2024. All of these documents are available on SEDAR+ at www.sedarplus.ca.FIRST QUARTER HIGHLIGHTSTrican's results for the first quarter compared to the prior year period were lower mainly due to a more competitive pricing environment combined with inflationary cost pressures: Revenue was $259.1 million for the three months ended March 31, 2025 compared to $271.9 million for the three months ended March 31, 2024.Adjusted EBITDAS1 and adjusted EBITDA1 for the three months ended March 31, 2025 were $62.3 million and $61.3 million, compared to $74.4 million and $72.8 million, respectively, for the three months ended March 31, 2024.Free cash flow1 and free cash flow per share1 for the three months ended March 31, 2025 were $43.0 million, $0.23 per share basic and diluted compared to $49.9 million, $0.24 per share basic and diluted for the three months ended March 31, 2024. Net profit and net profit per share for the three months ended March 31, 2025 were $31.9 million, $0.17 per share basic and diluted compared to $41.2 million, $0.20 per share basic and $0.19 per share diluted for the three months ended March 31, 2024.During the three months ended March 31, 2025, the Company returned an aggregate of $21.2 million to shareholders, consisting of $9.3 million from quarterly dividends and $11.9 million from the Company's Normal Course Issuer Bid (\"NCIB\") programs. The Company's balance sheet remains strong with positive working capital1, including cash, of $159.0 million at March 31, 2025 compared to $128.0 million at December 31, 2024, providing significant financial flexibility. As at March 31, 2025, the Company had a cash balance of $4.1 million (December 31, 2024 - $26.3 million). The decrease in cash is primarily attributed to tax installments, combined with working capit...