12:20 PM EST, 03/06/2025 (MT Newswires) -- (Updates shares.)

McCoy Global ( MCCRF ) on Thursday said its fourth-quarter profit rose 59% to $4.3 million, or $0.15 per share, compared with $2.7 million, or $0.10, a year earlier.

Revenue jumped 28% to $25.2 million while adjusted EBITDA rose 64% to $6.5 million.

"Our strategic focus on innovation and operational excellence has yielded significant results, with a 28% increase in Q4 revenue driven by strong demand for our newly commercialized smartProducts," said Jim Rakievich, McCoy's chief executive.

The oilfield-equipment manufacturer said the earnings improvements were driven by increased production throughput, product mix weighed more heavily towards smartProducts, as well as supply chain cost containment measures that reduced material cost for a number of product lines.

Management expects that the impact of tariffs will be offset to a substantial degree by the depreciating Canadian dollar. To further mitigate the potential impact of US tariffs on Canadian imports, McCoy said it can transition to alternative suppliers or implement other measures that limit or defer the financial impact.

McCoy shares were last seen up $0.39 to $2.82 on the Toronto Stock Exchange.

Price: 2.82, Change: +0.39, Percent Change: +16.05