Business
Trican Reports First Quarter Results for 2026 and Declares Quarterly Dividend
Calgary, Alberta--(Newsfile Corp. - May 11, 2026) - Trican Well Service Ltd. (TSX: TCW) ("Trican"...
About this update from Trican Well Service Ltd.
[{"type":"text","content":"Trican Reports First Quarter Results for 2026 and Declares Quarterly DividendCalgary, Alberta--(Newsfile Corp. - May 11, 2026) - Trican Well Service Ltd. (TSX: TCW) (\"Trican\" or the \"Company\") is pleased to announce its first quarter results for 2026. The following news release should be read in conjunction with Management's Discussion and Analysis (\"MD&A\"), the unaudited interim condensed consolidated financial statements and related notes for the three months ended March 31, 2026, as well as the Annual Information Form (\"AIF\") for the year ended December 31, 2025. 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 higher due to an increase in operating activity, including the contribution from the Iron Horse acquisition: Revenue was $330.3 million for the three months ended March 31, 2026 compared to $259.1 million for the three months ended March 31, 2025.Adjusted EBITDAS1 and adjusted EBITDA1 for the three months ended March 31, 2026 were $77.7 million and $70.1 million, compared to $62.3 million and $61.3 million, respectively, for the three months ended March 31, 2025.Free cash flow1 and free cash flow per share1 for the three months ended March 31, 2026 were $49.6 million, $0.24 per share basic and $0.23 per share diluted compared to $43.0 million, $0.23 per share basic and diluted for the three months ended March 31, 2025. During the three months ended March 31, 2026, the Company returned an aggregate of $16.5 million to shareholders, consisting of $11.6 million from quarterly dividends and $4.9 million from the Company's Normal Course Issuer Bid (\"NCIB\") program.Profit and profit per share for the three months ended March 31, 2026 were $30.3 million, $0.14 per share basic and diluted compared to $31.9 million, $0.17 per share basic and diluted for the three months ended March 31, 2025. Profit and profit per share were impacted primarily by higher share-based compensation, increased technology initiative expenses and higher depreciation expense related to the Iron Horse acquisition.The Company's statement of financial position remains solid with positive working capital1, excluding cash, of $142.7 million at March 31, 2026 compared to $179.2 million at December 31, 2025. As at March 31, 2026...