TOLWF - Trican Well Service GAAP EPS of $0.05 revenue of $218.9M

Trican Well Service press release (OTCPK:TOLWF): Q1 GAAP EPS of $0.05. Revenue of $218.9M (+47.9% Y/Y). Adjusted EBITDA and adjusted EBITDAS for the three months ended March 31, 2022, were $38.9 million and $42.0 million, compared to $27.3 million and $29.1 million, respectively for the three months ended March 31, 2021.  Free cash flow was $30.4 million for the three months ended March 31, 2022 (March 31, 2021 - $22.0 million). Outlook: Canadian rig counts are expected to track 15-20% higher than 2021 which will drive an increase in demand across the oilfield services sector. Activity levels for the second quarter of 2022 are expected to be much higher than prior years. We expect the market for Trican's services to move into an undersupplied position for the second half of 2022.

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Trican Well Service GAAP EPS of $0.05, revenue of $218.9M