07:34 AM EST, 11/07/2025 (MT Newswires) -- ACT Energy Technologies ( ACXAF ) on Friday reported a lower third-quarter net income and revenue.

The company reported a third-quarter net income of C$15.2 million, down from $26.2 million in the corresponding year-ago quarter. The company stated that one of the reasons for the lower net income is that 2024 Q3 reflected previously unrecognized Canadian tax pools, which resulted in a deferred tax recovery of $11.1 million in the period.

Third-quarter revenue was reported at $118.3 million, compared to $148.4 million in the year-ago quarter. The consensus estimates compiled by FactSet for revenue was $122.8 million. The company said that revenue declines are primarily attributable to lower industry activity contributing to ACT's lower U.S. activity.

"While E&P companies typically reduce activity heading into year-end, we anticipate a robust winter drilling season and a strong Q1 2026, comparable to last year's levels," said the company.

The company also stated that the ongoing build-out of U.S. LNG infrastructure and rising demand from AI-driven data centers are expected to drive future investment.

"In the U.S., while the land rig count declined another 5% from Q2, we believe activity bottomed during the quarter. We anticipate a gradual recovery beginning in Q4," said ACT Energy Technologies' ( ACXAF ) President and Chief Executive Officer, Tom Connors. "By focusing on high-value segments and executing our technology rollout, we are well-positioned to grow and strengthen our business as market conditions improve."