Welcome to our dedicated page for Dawson Geophysical Company New news (Ticker: DWSN), a resource for investors and traders seeking the latest updates and insights on Dawson Geophysical Company New stock.
Dawson Geophysical Company reports news about North American onshore seismic data acquisition services for oil and natural gas exploration and development customers, independent operators, major energy companies, and providers of multi-client data libraries. The company acquires and processes 2-D, 3-D, and multi-component seismic data in the continental United States and Canada, including work tied to land and land-to-water transition areas.
Recurring Dawson Geophysical developments include quarterly results, crew utilization, backlog, seismic survey demand, and capital spending on high-channel-count field equipment. Company updates also cover single node channel deployments, vibrator energy source capacity, CCUS seismic monitoring, and the use of seismic acquisition capabilities in carbon capture, geothermal, and critical rare-earth minerals applications.
Dawson Geophysical Company (NASDAQ: DWSN) reported its third-quarter results for 2020, showing revenues of $8.74 million, a decline of 76% from $36.98 million in Q3 2019. The company recorded a net loss of $7.84 million, translating to a loss of $0.33 per share, compared to a net income of $2.00 million or $0.09 per share in the prior year. Despite a decrease in revenues, EBITDA improved to $7.83 million for the nine months ended Sept 30, 2020. The company maintains a strong balance sheet with $45.42 million in cash, though project uncertainties and reduced demand from the oil and gas sector persist.
Dawson Geophysical Company (NASDAQ: DWSN) will release preliminary and unaudited financial results for Q3 2020 on October 29, 2020, before market open. An investor conference call will follow at 10:00 AM ET to discuss the results. Dawson is a leading provider of U.S. onshore seismic data acquisition services, servicing various clients including major oil and gas companies. The company emphasizes the potential impact of external factors such as energy spending trends and the ongoing COVID-19 pandemic on its operations and financial results.
Dawson Geophysical Company (NASDAQ: DWSN) reported second quarter 2020 revenues of $29.5 million, up 23% from $24.1 million in Q2 2019. The company posted a net income of $1.5 million or $0.06 per share, contrasting with a net loss of $11.2 million in the same quarter last year. EBITDA stood at $5.8 million, recovering from negative EBITDA of $6.1 million. Despite positive quarterly results, challenges in the oil and gas industry persist due to OPEC+ production cuts and COVID-19 impacts, leading to reduced capital budgets from clients.
Dawson Geophysical Company (NASDAQ: DWSN) plans to release preliminary and unaudited financial results for Q2 2020, ending June 30, 2020, before market open on July 30, 2020. An investor conference call is scheduled for the same day at 10:00 AM ET to discuss the results. Dawson specializes in U.S. onshore seismic data acquisition services, catering to major and independent oil and gas companies.