TCW.T-The comeback story of the yearhttps://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=8244811795330526&topic=TCW:CA&symbology=null&cp=null&webmasterId=90338
The comeback story of the year
Trican Well Services (TSX:TCW) provides essential services in the oil & gas industry. Besides drilling and reworking of oil wells, the $670 million equipment services company offers cementing solutions. The energy stock displays resiliency (+55.95% year to date), yet the price is absurdly low at $2.62 per share.
Like most companies in the energy sector, Trican lost big time in 2020. Fortunately, the business made a turnaround this year. In the first half of 2021 (six months ended June 30. 2021), revenue grew 9.76% versus the same period last year. Notably, the company reported a net loss of $2.38 million compared to a $182.54 net loss.
Management remains cautious for the rest of 2021, although Trican could still deliver stronger year-over-year results due to steady utilization and fundamentals return to normal.