TORONTO and MARSEILLE, France, April 30, 2024 /CNW/ -
Foraco International SA , a leading global provider of mineral and water drilling services, today announced its first quarter 2024 results. All figures are expressed in US Dollars unless otherwise indicated. Revenue Revenue: US$ 77.1 m compared to US$ 88.4 m in Q1 2023 . Q1 2024 revenue is the second-best Q1 quarter of the last decade . During Q1 2024, several customers postponed the resumption of activities in January compared to 2023 which was partially recovered in the second part of the quarter. Profitability Gross Margin: US$ 16.8 m, or 21.8% of revenue EBITDA: US$ 17.6 m, or 22.8% of revenue Net Profit: US$ 8.5 m, or 11.0% of revenue EPS to equity holders: 8.78 US cents vs 6.56 US cents in Q1 2023 Tim Bremner, CEO of...