RY 174.39 2.4016% SHOP 149.115 2.5974% TD-PFM 24.63 -0.0811% TD-PFL 24.7 0.2028% TD 78.325 0.1214% ENB 60.6 1.3039% BN 80.4 1.9787% TRI 226.27 0.7525% CNQ 48.285 2.2771% CP 104.53 1.6038% CNR 151.74 1.5459% BMO 132.69 0.9203% BNS 78.845 0.1715% CSU 4600.2002 2.157% CM 91.15 0.474% MFC 45.79 1.6878% ATD 78.38 1.5285% NGT 60.14 0.0499% TRP 70.15 1.977% SU 57.44 0.5954%

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Calfrac Well Services (TSX: CFW) posts 19% EBITDA growth in Q2FY23, leverage reduces

Image source: Nokwan007@shutterstock

Highlights

Calfrac Well Services Ltd (TSX: CFW) holds expertise in oilfield services, such as cementing, hydraulic fracturing, coiled tubing, and related well completion services to the industries of oil and natural gas sector across the United States, Russia, Canada, and Argentina.

In the second quarter of the year 2023, the company secured a revenue of about CAD 466.4 million, as compared to CAD 318.5 million in the previous corresponding period. This was primarily because of a 34% hike in the number of fracturing jobs. Also, it posted an adjusted EBITDA of CAD 87.8 million during the reporting period, 18.8% higher than Q2 2022.

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