Welcome to our dedicated page for Koil Energy Solutions news (Ticker: KLNG), a resource for investors and traders seeking the latest updates and insights on Koil Energy Solutions stock.
Koil Energy Solutions (KLNG) delivers specialized engineering solutions for subsea and offshore energy operations worldwide. This page aggregates all official company announcements, technical developments, and strategic updates for investors and industry professionals.
Access real-time insights into KLNG's subsea infrastructure projects, equipment innovations, and market expansions. Key updates include earnings reports, partnership announcements, and progress on initiatives like Brazil's offshore energy sector.
Content spans operational milestones, regulatory filings, technology patents, and executive leadership changes. Regular updates ensure stakeholders stay informed about KLNG's role in advancing subsea engineering solutions for complex marine environments.
Bookmark this page for streamlined access to verified KLNG developments. Combine our updates with SEC filings and market analysis tools for comprehensive investment research.
Koil Energy Solutions, Inc. (OTCQB: KLNG) reported strong Q2 2024 results, with significant year-over-year improvements. Revenues increased 65% to $5.8 million, while gross profit nearly doubled to $2.0 million. The company achieved a net income of $1.0 million, a $1.4 million improvement from Q2 2023. Adjusted EBITDA rose to $1.2 million, also a $1.4 million increase year-over-year.
CEO Erik Wiik attributed the success to a proactive growth strategy and strong execution. The company's gross profit margin improved to 39%, up from 33% in Q2 2023. KOIL's financial position strengthened, with working capital increasing to $4.4 million as of June 30, 2024, compared to $2.6 million at the end of 2023. Shareholders' equity grew to $7.2 million, or $0.59 per common share.
Koil Energy Solutions, Inc. (OTCQB: KLNG), a specialist in deepwater energy production and distribution equipment and services, has announced the dates for its second quarter 2024 earnings release and conference call. The company will report its Q2 2024 results on Monday, August 5, 2024, before the market opens. An investor conference call to review the results will be held on the same day at 10:00 am Eastern Time.
Investors can join the call via toll-free number 1-833-630-1956 or international number 1-412-317-1837. A webcast of the call will also be available. The earnings release and a replay of the conference call will be accessible on the company's website under the 'Investors' section.
Koil Energy Solutions, Inc. (OTCQB: KLNG) reported strong results for Q1 2024 with revenues increasing 56% to $5.8 million, gross profit up 24% to $2.0 million, and net income rising from a loss to $0.6 million. Adjusted EBITDA also increased significantly. The company's growth strategy is paying off with a major contract win in April and a focus on expanding international markets. While most growth is from repeat orders, key accounts are growing, promising long-term value creation.
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