Welcome to our dedicated page for Trican Well Svc news (Ticker: TOLWF), a resource for investors and traders seeking the latest updates and insights on Trican Well Svc stock.
Trican Well Service Ltd (TOLWF) delivers specialized well servicing solutions for the oil and gas sector, including hydraulic fracturing, cementing, and nitrogen services. This page provides investors and industry professionals with direct access to the company's official announcements and operational updates.
Track critical developments through verified press releases, financial reports, and technical innovation announcements. Our curated collection ensures you stay informed about earnings results, strategic partnerships, and equipment advancements without promotional bias.
All content is organized for quick scanning and updated regularly to reflect Trican's role as Canada's leading pressure pumping service provider. Bookmark this page or check back frequently to monitor operational milestones and capital management initiatives shaping the company's trajectory.
Trican Well Service (TSX: TCW) held its 2024 annual meeting on May 14, 2024, in Calgary, Alberta. Six nominees were elected as directors. The elected directors are Thomas M. Alford, Trudy M. Curran, Bradley P.D. Fedora, Michael J. McNulty, Stuart G. O'Connor, and Deborah S. Stein. Voting percentages ranged from 72.21% to 99.35% in favor. KPMG LLP was appointed as the auditor, with 85.47% of votes in favor. Additionally, shareholders approved Trican's executive compensation approach, with 93.46% voting in favor.
Trican Well Service announced its first quarter results for 2024, reporting an 8% decrease in revenue to $271.9 million compared to the same period in 2023.
Adjusted EBITDA also fell to $72.8 million from $81.6 million. Free cash flow per share remained stable at $0.24.
The company reported a profit of $41.2 million, slightly down from $46.0 million in Q1 2023.
Trican maintains a strong balance sheet with positive working capital of $174.5 million and no loans or borrowings. A quarterly dividend of $0.045 per share was declared, reflecting a 12.5% increase from the previous year.
The company continues to invest in its fleet, deploying its fifth Tier 4 DGB fleet and progressing with its electrification program to reduce emissions.
Operational efficiencies and a focus on ESG initiatives remain key priorities as the company navigates a challenging market environment.
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