11:51 AM EST, 03/07/2025 (MT Newswires) -- (Updates shares.)

Ensign Energy Services ( ESVIF ) on Friday reported that it swung to a loss in the fourth quarter as revenue fell.

The oilfield-services company said it lost $20.2 million, or $0.11 per share, in the period, compared to a profit of $31.9 million, or $0.17, in the year-prior quarter.

Revenue declined to $426.5 million from $430.5 million.

Adjusted EBITDA came in at $113.4 million, or $0.62 per share, down from $129 million, or $0.70 per share.

Ensign said it plans to cut debt this year by $200 million. Total debt reduction from 2023 to 2025 is expected to be about $600 million.

The company's shares were last seen down $0.22 to $2.23 on the Toronto Stock Exchange.

Price: 2.23, Change: -0.22, Percent Change: -8.98