Bri-Chem Corp. (TSE:BRY) has released an update.
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Bri-Chem Corp., a major player in North American oilfield chemical distribution, reported a modest increase in consolidated sales for Q4 2023, driven by Canadian operations, but faced a slight decrease in gross margins due to higher shipping costs. Despite these challenges, the company saw an increase in adjusted EBITDA and maintained steady operating earnings, with a slight uptick in adjusted net earnings per diluted share. Additionally, Bri-Chem experienced a 3% growth in working capital by the end of 2023.
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