PHX Energy Services (TSE:PHX) has released an update.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
PHX Energy Services reported a slight decline in consolidated revenue for the third quarter of 2024, mainly due to reduced motor rental and equipment sales, despite a lower rig count in the US. The Canadian division also faced a revenue dip, impacted by weak natural gas prices and reduced client activity. Overall, the company experienced decreased profitability due to diminished activity in its high-margin revenue streams.
For further insights into TSE:PHX stock, check out TipRanks’ Stock Analysis page.
