Bullboard - Stock Discussion Forum Ensign Energy Services Inc T.ESI

Alternate Symbol(s): ESVIF

Energy Oil & Gas Drilling

Ensign Energy Services Inc. is a technologically advanced oilfield service provider. It provides oilfield services to the oil and natural gas industry in Canada, the United States and internationally. Its services include drilling, directional drilling, well servicing and rental equipment. Its well services include well completion and re-completions, well abandonment, production workovers... see more

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Ensign Energy Services Inc > Ensign Energy Services Inc. Reports 2023 Results

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Post by Betteryear2 on Mar 01, 2024 6:53am

Ensign Energy Services Inc. Reports 2023 Results

CALGARY, AB, March 1, 2024 /CNW/ -

2023 HIGHLIGHTS

Ensign's fourth quarter and year-end 2023 results reflect the Company's commitment to revenue rate discipline, focus on cash flow generation, and continued debt reduction.
Revenue for 2023 was $1,791.8 million, a 14 percent increase from 2022 revenue of $1,577.3 million.
Revenue amounts and percentage of total by geographic area:
- Canada - $446.4 million, 25 percent;
- United States - $1,040.8 million, 58 percent; and
- International - $304.6 million, 17 percent.
Adjusted EBITDA for 2023 was $490.2 million, a 31 percent increase from Adjusted EBITDA of $373.6 million for 2022.
Funds flow from operations for 2023 increased 25 percent to $464.9 million from $372.0 million in the prior year.
Net income for 2023 was $41.2 million, up from $8.1 million of the prior year.