PHX Energy Services (TSE:PHX) has released an update.
PHX Energy Services reported a slight decline in consolidated revenue for the third quarter of 2024, mainly due to reduced motor rental and equipment sales, despite a lower rig count in the US. The Canadian division also faced a revenue dip, impacted by weak natural gas prices and reduced client activity. Overall, the company experienced decreased profitability due to diminished activity in its high-margin revenue streams.
For further insights into TSE:PHX stock, check out TipRanks’ Stock Analysis page.
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