$CFW.TO

Calfrac Well Services Secures TSX Approval to Launch Normal Course Issuer Bid

Calfrac Well Services (CFW.TO) has received approval from the Toronto Stock Exchange to commence a normal course issuer bid, the company said Thursday.Under the NCIB, Calfrac may purchase for cancellation up to 5,023,580 common shares, or about 5% of its issued and outstanding common shares.Purchases under the NCIB may commence on or about June 1, 2026, and will terminate on or about May 31, 2027, or earlier.Calfrac believes that the market price of its shares does not fully reflect the underlying value of its business and future prospects and the NCIB provides the company with the flexibility to pursue share repurchases while maintaining its focus on debt repayment and capital investment.Shares in Calfrac were up 2.1% yesterday despite losses for the broader market.

Calfrac Well Services Announces Normal Course Issuer Bid; Representing Near 5% of Co's 100,471,603 Issued and Outstanding Common Shares

Calfrac Well Services' Q1 Net Income Surges 142% YoY

Calfrac Well Services (CFW.TO) reported a 142% jump in net income year over year in the first quarter despite lower revenue, the company said on Tuesday.Net income was C$18.9 million, or $0.19 per share, up from $7.8 million, or $0.09 per share.Revenue was $305.4 million, down from $370.1 million. The results reflected the normalization of spot pricing in Argentina combined with lower North American activity.Adjusted EBITDA was $50.1 million, down from $55.3 million.In North America, the company achieved its highest first-quarter margins in the past three years, despite the North American onshore rig count declining by about 30% over that same period.Calfrac said it has made progress strengthening its balance sheet, reducing net debt to its lowest level in recent years.

Earnings Flash (CFW.TO) Calfrac Well Services Reporting Q1 Revenue C$305.4M Vs $370.1M a Year Earlier