Western Energy Services (TSE:WRG) has released an update.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Western Energy Services Corp. reports a 22% decline in first-quarter revenue for 2024, at $62.0 million, owing largely to decreased drilling activity in Canada and the US due to lower natural gas prices. Despite the overall revenue drop, production services saw a 5% increase. The company also recorded a net income of $1.5 million, a decrease from the previous year’s first-quarter net income of $4.4 million, influenced by lower Adjusted EBITDA and other factors.
For further insights into TSE:WRG stock, check out TipRanks’ Stock Analysis page.