11:52 AM EDT, 05/15/2025 (MT Newswires) -- (Updates shares.)

Calfrac Well Services ( CFWFF ) on Thursday said it swung to a profit in the first quarter on a 12% rise in revenue.

The oilfield-services company said it earned $7.8 million, or $0.09 per share, swinging from a year-prior loss of $2.9 million, or $0.03.

Revenue was $370.1 million, up from $330.1 million and beating the $350 million sales consensus estimate compiled by FactSet.

Adjusted EBITDA more than doubled to $55.3 million from $26.1 million.

Calfrac shares were last seen down $0.13 to $3.34 on the Toronto Stock Exchange.

Price: 3.34, Change: -0.13, Percent Change: -3.75