07:15 AM EDT, 08/08/2025 (MT Newswires) -- Calfrac Well Services ( CFWFF ) on Friday reported a decline in second-quarter net income, citing the "current macroeconomic challenges affecting the global economy", and said it had recently taken steps to reduce its operating footprint in North America.

Net income was $15.3 million, or $0.18 per share, down from $24.5 million, or $0.29 per share, primarily due to an increase in current taxes arising from the improved profitability in Argentina which has a higher effective tax rate.

Calfrac generated Adjusted EBITDA of $77.0 million during the second quarter in 2025, a 39% increase from the first quarter in 2025, primarily due to improved utilization and financial performance in North America. The company's Argentina operations also delivered "another very strong quarter", building on the positive momentum from its record first-quarter.

Revenue amounted to $402.3 million, down from $426 million mainly due to lower activity and pricing in North America.

Calfrac's Chief Financial Officer, Mike Olinek, said: "The company's second unconventional fracturing fleet in Argentina continues to gain further traction and we are excited about our ability to capture future growth opportunities in that market."

He added: "Calfrac has recently taken steps to reduce its operating footprint in North America to 10 fleets as customer activity is expected to soften in the second half of the year, but I am confident that the demand for our next-generation Dynamic Gas Blending fleets will continue to remain strong. The completion of the company's North American fleet modernization program during the second quarter combined with normal seasonality is expected to result in robust cash flow throughout the remainder of the year which will be used to reduce long-term debt."