RE:Testing one's conviction Enterprise Group, Inc. (E) a consolidator of energy services (including specialized equipment rental to the energy/resource sector), emphasizing technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for small to Tier One resource clients, today posted Q1 2022 results. Here's a brief extract of the press release.
The first quarter has been one of the strongest quarters in recent years. Higher capital spending in the energy industry combined with colder weather have increased activity levels and improved results.
For the three months ended March 31, 2022, the company generated cash flow from operations of $2,679,056 compared to $1,389,501 in the three months ended March 31, 2021
Outlook
Capital spending in the energy industry has been steadily improving. Commodity prices have risen on strengthening fundamentals and oil and gas demand has been recovering, despite some continued effects of the COVID-19 pandemic and evolving regulatory risks. Industry data on drilling and completion activity, high crude oil prices and significant increases to budgeted capital programs, all support improved activity.
Enterprise's outlook for the remainder of 2022 is positive. The Company anticipates its customers will continue to increase their drilling and completion activity as industry fundamentals continue to improve.
https://stockhouse.com/news/press-releases/2022/05/13/enterprise-group-announces-results-for-first-quarter-2022