TOLWF - Trican Well Service Q2 revenue rises 230% Y/Y

Trican Well Service (OTCPK:TOLWF): Q2 GAAP EPS of -C$0.03. Revenue of C$93.7M (+229.9% Y/Y). The company said revenue in Q2 decreased 37%, or $54.3M, from Q1, as Q2 experienced decreased activity levels compared to the previous quarter due to typical seasonal spring break up conditions. Trican, however, noted that continued strong commodity price performance in Q2, cooperative weather conditions and increasing focus by its customers on level loading their full year well completion activities drove generally higher activity levels in the WCSB than anticipated. Outlook: The company said its outlook for the balance of the 2021 year is positive. Trican noted that the early Q3 rig count has continued with the strong momentum generated in Q2, and expects the rig count to be similar to Q1 of this year. The average rig count of Q2 was 84, sequentially lower than Q1 of 146. Q2 2020 rig count was 22. Press Release

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Trican Well Service Q2 revenue rises 230% Y/Y