11:42 AM EST, 02/25/2025 (MT Newswires) -- (Updates shares.)

Tamarack Valley Energy ( TNEYF ) traded 4% lower at last look Tuesday after saying its profit plunged in the fourth quarter despite an increase in adjusted funds flow.

Net income for the quarter fell to $6.4 million, or $0.01 per share, from $57.3 million, or $0.10.

Adjusted funds flow came in at $223.4 million, or $0.42, up from $194.8 million, or $0.35. Full-year 2024 adjusted funds flow rose 11% to a record $851 million.

The company posted oil and natural gas sales of $426.5 million, up from $418.9 million.

Tamarack closed last year with annual production of 64,331 barrels of oil equivalent per day. This year, the company expects annual average production of 65,000 to 67,000 boe/d.

The company's shares were last seen down $0.18 to $4.34 on the Toronto Stock Exchange.

Price: 4.32, Change: -0.20, Percent Change: -4.42