3 months ago
11
CALGARY, Alberta, March 06, 2025 (GLOBE NEWSWIRE) -- Total Energy Services Inc. ("Total Energy” or the "Company”) (TSX:TOT) announces its consolidated financial results for the three months and year ended December 31, 2024.
Financial Highlights
($000's except per share data)
| Three months ended December 31 | Year ended
Get the latest news
Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy. December 31 | |||||||||||||
| 2024 | 2023 | Change | 2024 | 2023 | Change | |||||||||
| Revenue | $ | 246,816 | $ | 213,758 | 15 | % | $ | 906,776 | $ | 892,396 | 2 | % | ||
| Operating income | 15,892 | 23,510 | (32 | %) | 79,842 | 84,622 | (6 | %) | ||||||
| EBITDA (1) | 40,565 | 45,276 | (10 | %) | 171,845 | 168,961 | 2 | % | ||||||
| Cashflow | 43,413 | 44,457 | (2 | %) | 162,435 | 163,321 | (1 | %) | ||||||
| Net income (loss) | 10,102 | (7,861 | ) | nm | 60,725 | 41,594 | 46 | % | ||||||
| Attributable to shareholders | 10,116 | (7,847 | ) | nm | 60,801 | 41,625 | 46 | % | ||||||
| Per Share Data (Diluted) | ||||||||||||||
| EBITDA (1) | $ | 1.04 | $ | 1.11 | (6 | %) | $ | 4.33 | $ | 4.11 | 5 | % | ||
| Cashflow | $ | 1.12 | $ | 1.09 | 3 | % | $ | 4.10 | $ | 3.97 | 3 | % | ||
| Attributable to shareholders: | ||||||||||||||
| Net income (loss) | $ | 0.26 | $ | (0.19 | ) | nm | $ | 1.53 | $ | 1.01 | 51 | % | ||
| Common shares (000's)(4) | ||||||||||||||
| Basic | 38,171 | 39,975 | (5 | %) | 39,080 | 40,409 | (3 | %) | ||||||
| Diluted | 38,828 | 40,623 | (4 | %) | 39,662 | 41,147 | (4 | %) | ||||||
| December 31 | December 31 | |||||||||||||
| Financial Position at | 2024 | 2023 | Change | |||||||||||
| Total Assets | $ | 937,708 | $ | 861,658 | 9 | % | ||||||||
| Long-Term Debt and Lease Liabilities (excluding current portion) | 79,171 | 100,834 | (21 | %) | ||||||||||
| Working Capital (2) | 78,737 | 123,439 | (36 | %) | ||||||||||
| Net Debt (3) | 434 | - | nm | |||||||||||
| Shareholders' Equity | 571,043 | 530,758 | 8 | % | ||||||||||
Notes 1 through 4 please refer to the Notes to the Financial Highlights set forth at the end of this release.
nm - calculation not meaningful
Total Energy's results for the three months ended December 31, 2024 reflect relatively stable industry conditions in Canada and Australia and lower drilling and completion activity levels in the United States (the "U.S.”). Included in the 2024 financial results is the contribution from Saxon Energy Services Australia Pty Ltd. ("Saxon”) from March 7, 2024 when Saxon was acquired. 2024 fourth quarter results were negatively impacted by $4.1 million compared to the fourth quarter of 2023 as a result of foreign exchange translation differences.
Contract Drilling Services ("CDS”)
| Three months ended
December 31 | Year ended December 31 | |||||||||||||||
| 2024 | 2023 | Change | 2024 | 2023 | Change | |||||||||||
| Revenue | $ | 83,878 | $ | 74,700 | 12% | $ | 319,612 | $ | 287,333 | 11% | ||||||
| EBITDA (1) | $ | 18,556 | $ | 23,880 | (22% | ) | $ | 75,970 | $ | 75,710 | - | |||||
| EBITDA (1) as a % of revenue | 22% | 32% | (31% | ) | 24% | 26% | (8% | ) | ||||||||
| Operating days(2) | 2,490 | 2,588 | (4% | ) | 10,177 | 10,311 | (1% | ) | ||||||||
| Canada | 1,650 | 1,890 | (13% | ) | 6,604 | 6,913 | (4% | ) | ||||||||
| United States | 122 | 356 | (66% | ) | 1,155 | 2,052 | (44% | ) | ||||||||
| Australia | 718 | 342 | 110% | 2,418 | 1,346 | 80% | ||||||||||
| Revenue per operating day(2), dollars | $ | 33,686 | $ | 28,864 | 17% | $ | 31,405 | $ | 27,867 | 13% | ||||||
| Canada | 27,515 | 27,162 | 1% | 26,481 | 26,076 | 2% | ||||||||||
| United States | 35,787 | 30,483 | 17% | 29,329 | 28,700 | 2% | ||||||||||
| Australia | 47,511 | 36,582 | 30% | 45,847 | 35,791 |
This website uses cookies. By continuing to browse the website, you are agreeing to our use of cookies. Read More. | ||||||||||
