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An update from Cathedral Energy Services ( (TSE:ACX) ) is now available.
ACT Energy Technologies Ltd reported a 6% sequential increase in first-quarter revenues to $135.4 million, outperforming the North American active land rig count increase. However, the company faced an 18% year-over-year revenue decline due to a weaker U.S. land rig count and reduced lost-in-hole revenues. Despite these challenges, ACT improved its liquidity position and saw a sequential increase in U.S. operating days, with expectations for further gross margin expansion through the deployment of Rime measurement-while-drilling systems.
More about Cathedral Energy Services
Average Trading Volume: 42,417
Technical Sentiment Signal: Sell
Current Market Cap: C$166.3M
See more data about ACX stock on TipRanks’ Stock Analysis page.