PHX Energy Services (TSE:PHX) has released an update.
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PHX Energy Services shattered records with its 2023 financial results, reporting the highest annual consolidated revenue in its history at $656.3 million, a 23% increase from 2022. The company’s earnings from continuing operations more than doubled to $98.6 million, with the fourth quarter alone generating $165.3 million in revenue, marking it as the highest fourth quarter revenue to date. This financial surge also led to significant returns for shareholders, including increased dividends and share repurchases.
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