Business
Bri-Chem Announces 2026 First Quarter Financial Results
Edmonton, Alberta--(Newsfile Corp. - May 13, 2026) - Bri-Chem Corp. (TSX: BRY) ("Bri-Chem" or "Company"), a leading North American oilfield chemical distribution and blending company, is pleased to announce its 2026 first quarter financial results.Three months endedMarch 31Change(in '000s except per share amounts)20262025$%Financial performanceSales$16,567$19,909$(3,342)(17%)Adjusted EBITDA(1)81246534775%As a % of revenue5%2% Operating earnings / (loss)642(23)666(2847%)Adjusted net earnings /...
About this update from Bri-chem Corp.
Edmonton, Alberta--(Newsfile Corp. - May 13, 2026) - Bri-Chem Corp. (TSX: BRY) ("Bri-Chem" or "Company"), a leading North American oilfield chemical distribution and blending company, is pleased to announce its 2026 first quarter financial results. (1) Non-GAAP financial measure. Refer to "Non-GAAP Financial Measures" in this press release. Key Q1 2026 highlights include: Summary for the three months ended March 31, 2026: Consolidated sales for the three months ended March 31, 2026 were $17 million compared to $20 million for the same period in 2025, representing a $3.3 million decrease over the comparable period. Revenue was impacted by lower US fluid distribution sales, arising from the sale of a United States customer to a competitor and the subsequent discontinuation of services. Bri-Chem's Canadian drilling fluids distribution division generated sales of $2.9 million for the three months ended March 31, 2026, which was higher than the comparable prior period by 6%. The $154 thousand increase in sales quarter over quarter is the result of an improved sales to a returning customer. Bri-Chem's United States drilling fluids distribution division generated sales of $7.1 million for the three months ended March 31, 2026, compared to sales of $10.8 million for the comparable period in 2025, representing a quarterly decrease of 34%. US fluids and distribution sales decreased, arising from the sale of a United States customer to a competitor and the subsequent discontinuation of services. The active number of US operating land rigs in Q1 2026 averaged 531, compared to a 2025 Q1 average of 572 representing a decrease of approximately 7% (Source: Baker Hughes). Bri-Chem's Canadian blending and packaging division generated sales of $4.1 million for the three months ended March 31, 2026, compared to Q1 2025 sales of $4.4 million, representing a quarterly decrease of 7%. The decrease in sales relates to 3rd party contract work realized in 2025 that was diminished or discontinued in the current period. US blending and packaging sales for the three months ended March 31, 2026 were $2.4 million compared to $2 million in the prior year. The 23% increase is due to an increase in sales to new and returning customers. Operating earnings for the three months ended March 31, 2026 was $642 thousand which is an incre...