05:30 PM EDT, 03/12/2024 (MT Newswires) -- FLINT Corp. ( NWPIF ) Tuesday announced its results for the three and twelve months ending Dec. 31, 2023, $300,000 representing a decrease of $4.6 million or 94.7% from the same period in 2022.

"2023 was the second consecutive year of record annual revenues for FLINT at $655.7 million, representing an increase of 8.4% over 2022. These results were driven primarily by our Maintenance and Construction Services segment which benefited from our organic growth strategy that targets both industrial end market and geographic diversification," said Barry Card, Chief Executive Officer, in a statement. "We have seen strong bookings to start 2024 with new contract awards and renewals during the first two months that are estimated to generate approximately $169.6 million in backlog. The awarded work will be executed across Energy and Industrial markets, including oil and gas, agriculture and forestry."

Gross profit for the year ended Dec. 31, 2023 was $67.5 million, representing an increase of $4.4 million or 6.9% from 2022. The increase in gross profit was primarily driven by an increase in the volume of work in the Maintenance and Construction Services segment.