ACT Energy Technologies Reports 2026 Q2 Interim Results

About this update from Act Energy Technologies Ltd.

CALGARY, AB, Aug. 7, 2026 /CNW/ -- (TSX: ACX) ACT Energy Technologies Ltd (the "Company" or "ACT")'s news release contains "forward-looking statements" within the meaning of applicable Canadian securities laws. For a full disclosure of forward-looking statements and the risks to which they are subject, see the 'Forward-Looking Statements' section in this news release. This news release contains references to Adjusted gross margin, Adjusted gross margin percentage, Adjusted EBITDAS, Adjusted EBITDAS margin percentage, Free cash flow, Net debt, Working capital and Net capital expenditures. These terms do not have standardized meanings prescribed under International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS Accounting Standards") and may not be comparable to similar measures used by other companies. See the 'Non-GAAP measures' section in this news release for definitions and tabular calculations. 2026 Q2 FINANCIAL RESULTS PRESIDENT'S MESSAGE Comments from President & CEO Tom Connors: "The second quarter was the strongest second quarter in ACT's history, and the clearest evidence to date that the platform we have been building is working as designed. Revenues of $178.5 million increased 59% and Adjusted EBITDAS(3) of $26.9 million increased 76% over the same quarter last year. We delivered that growth in the quarter that is seasonally our most difficult, and against a United States land rig count that was essentially unchanged year over year. "Canada produced a record second quarter for activity. Operating days(2) increased 81% to 3,805, well ahead of the 29% increase in the average Western Canadian directional rig count(2), reflecting new customer additions, the continued adoption of rotary steerable and other revenue-generating technologies, and the multi-lateral drilling franchise that remains the foundation of the Canadian business. Just as importantly, the incremental activity converted into margin rather than volume alone. Canadian direct costs declined to 67% of revenue from 72% a year ago, which is the operating leverage this business is built to deliver when equipment and crews are working. "In the United States, operating days(2) increased 76% to 5,000 while the average U.S. directional rig count(2) rose 1%. Stryker and SB Directional were the principal drivers, and both businesses have p...

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