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Energy Stock Calfrac Well Services (TSX: CFW) reports over 70% jump in Q3 NPAT
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Highlights
Calfrac Well Services Ltd (TSX: CFW) aims to become a next-generation pressure pumping player in the global market. It has deployed more Tier IV dynamic gas blending (DGB) fracturing pumps. Furthermore, CFW is planning to deploy an additional 41 upgraded Tier IV DGB units by the end of Q1 2024.
In the third quarter of the year 2023, the company’s top-line business grew to CAD 483.0 million from CAD 438.3 million in the previous corresponding period. CFW also registered an increase in its gross profit to CAD 79.2 million in the reporting period. It secured a net income of CAD 97.5 million from continuing operations, as compared to CAD 52.3 million in Q3 2022.
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