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Bri-Chem Announces 2026 Second Quarter Financial Results
Edmonton, Alberta--(Newsfile Corp. - August 14, 2026) - Bri-Chem Corp. (TSX: BRY) ("Br...
About this update from Bri-chem Corp.
Bri-Chem Announces 2026 Second Quarter Financial ResultsEdmonton, Alberta--(Newsfile Corp. - August 14, 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 second quarter financial results.Three months endedSix months endedJune 30ChangeJune 30Change(in '000s except per share amounts)20262025$%20262025$%Financial performanceSales$15,505$20,534$(5,029)(24%)$32,072$40,443$(8,371)(21%)Adjusted EBITDA(1)1841,045(861)(82%)9961,511(515)(34%)As a % of revenue1%5%  3%4%  Operating earnings29772(743)(96%)672748(77)(10%)Adjusted net (loss) / earnings (1)(479)60(539)(895%)(281)(558)277(50%)Net (loss) / earnings$(470)$157$(627)(400%)$(384)$(255)$(129)51%Per diluted share        Adjusted EBITDA (1)$0.01$0.04$(0.03)(76%)$0.04$0.06$(0.02)(35%)Adjusted net (loss) / earnings (1)$(0.02)$0.01$(0.03)(245%)$(0.01)$(0.02)$0.01(48%)Net (loss) / earnings$(0.02)$0.02$(0.04)(252%)$(0.01)$(0.01)$-0%Financial position        Total assets    $41,314$53,404$(12,089)(23%)Working capital    5,42111,136(5,716)(51%)Long-term debt    -6,399(6,399)(100%)Shareholders equity    $20,632$19,405$1,2276% (1) Non-GAAP financial measure. Refer to "Non-GAAP Financial Measures" in this press release.Key Q2 2026 highlights include:Consolidated sales for the three months ended June 30, 2026 were $15.5 million, representing a 24% decrease from the prior year. The decrease is primarily due to decreased sales in the US fluids distribution division and decreased activity levels attributable to a few specific customers.Consolidated gross margin for the three months ended June 30, 2026 decreased by $981 thousand compared to the same period last year. The gross margin dollar decrease is primarily related to the decrease in US fluid distribution sales in the quarter. Adjusted EBITDA for the second quarter 2026 decreased by $861 thousand when compared to the same period in the prior year and operating earnings decreased by $743 thousand for the three months ended June 30, 2026 compared to the prior year primarily due to a decrease in margin realized in the quarter.Adjusted net loss per diluted share for ...