Q3 resultsA great result in my view. Look out for the "other loss / income" which relates to equity investments.
If you factor in the net change of a decrease of $650k, EBITDA is that much higher.
Gross profit - $5.6m
SG&A - ($2.7m)
Depreciation - $2.1m
=
Operating profit of $5.0m during the wet season (compared to $4m, last year) and compared to about $7mm in Q2-21.
If the market mistinterprets the flat EBITDA and doesn't consider the equity investment noise, I'll be adding.
Good utilization and increasing rig count will provide for better quarters ahead. The company is also in a net cash position!