Bri-Chem Announces 2024 Second Quarter Financial Results
Edmonton, Alberta--(Newsfile Corp. - August 14, 2024) - Bri-Chem Corp. (TSX: BRY) ("Bri-Chem" or "Company"), a leading North American oilfield chemical distribution and blending company, is pleased to announce its 2024 second quarter financial results. Three months ended Six months ended June 30 Change June 30 Change (in '000s except per share amounts) 2024 2023 $ % 2024 2023 $ % Financial performance Sales $ 19,106 $ 25,229 $ (6,123 ) (24%) $ 40,477 $ 52,430 $ (11,953 ) (23%) Adjusted EBITDA(1) 707 1,972 (1,265 ) (64%) 264 3,587 (3,324 ) (93%) As a % of revenue 4% 8% 1% 7% Operating earnings 620 1,216 (596 ) (49%) 476 2,513 (2,037 ) (81%) Adjusted net (loss) / earnings (1) (584 ) 714 (1,298 ) (182%) (2,351 ) 1,105 (3,456 ) (313%) Net (loss) / earnings $ (488 ) $ 553 $ (1,041 ) (188%) $ (1,994 ) $ 818 $ (2,812 ) (344%) Per diluted share Adjusted EBITDA (1) $ 0.03 $ 0.07 $ (0.04 ) (54%) $ 0.01 $ 0.14 $ (0.13 ) (96%) Adjusted net (loss) / earnings (1) $ (0.02 ) $ 0.03 $ (0.05 ) (186%) $ (0.09 ) $ 0.04 $ (0.13 ) (313%) Net (loss) / earnings $ (0.02 ) $ 0.02 $ (0.04 ) (192%) $ (0.08 ) $ 0.03 $ (0.11 ) (357%) Financial position Total assets $ 59,191 $ 72,588 $ (13,397 ) (18%) Working capital 14,143 15,940 (1,797 ) (11%) Long-term debt 6,616 6,827 (211 ) (3%) Shareholders equity $ 21,596 $ 22,517 $ (921 ) (4%) (1) Non-GAAP financial measure.
Aug 14, 2024 | www.newsfilecorp.com