07:26 AM EDT, 05/12/2025 (MT Newswires) -- Ensign Energy Services ( ESVIF ) reported Monday improved net income and revenue for the first quarter.

The company posted an attributable net income of $3.7 million, or $0.02 per share, compared with an attributable net loss of $1.2 million, or $0.01 per share. The analyst consensus forecast compiled by FactSet was a loss of $0.04 per share.

Revenue rose to $436.5 million from $431.3 million, beating the analyst consensus sales estimate of $423.8 million compiled by FactSet. Adjusted EBITDA fell to $102.4 million from $117.5 million.

The company said the outlook for oilfield services continues to be constructive despite global trade uncertainty, with global oil demand still resilient in the first quarter. However, ample crude supply, further bolstered by OPEC+ easing production cuts, has kept the market well-supplied and subsequently encouraged producer restraint, Ensign said.

As a result, Ensign said it continues to consider rig relocation, upgrade, or growth projects in response to customer demand and under appropriate contract terms, which may impact capital expenditures.

For 2025, the company aims to achieve $200.0 million in debt reduction while budgeting $164.0 million for maintenance capital expenditures.