Calfrac Well Services Ltd. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was CAD 447.85 million compared to CAD 229.66 million a year ago. Net income was CAD 19.31 million compared to net loss of CAD 28.32 million a year ago. Basic earnings per share from continuing operations was CAD 0.27 compared to basic loss per share from continuing operations of CAD 0.77 a year ago. Diluted earnings per share from continuing operations was CAD 0.17 compared to diluted loss per share from continuing operations of CAD 0.77 a year ago. Basic earnings per share was CAD 0.36 compared to basic loss per share of CAD 0.75 a year ago. Diluted earnings per share was CAD 0.22 compared to diluted loss per share of CAD 0.75 a year ago.

For the full year, the company reported sales was CAD 1,499.22 million compared to CAD 880.25 million a year ago. Net income was CAD 11.68 million compared to net loss of CAD 82.81 million a year ago. Basic earnings per share from continuing operations was CAD 0.83 compared to basic loss per share from continuing operations of CAD 2.52 a year ago. Diluted earnings per share from continuing operations was CAD 0.47 compared to diluted loss per share from continuing operations of CAD 2.52 a year ago. Basic earnings per share was CAD 0.27 compared to basic loss per share of CAD 2.21 a year ago. Diluted earnings per share was CAD 0.19 compared to diluted loss per share of CAD 2.21 a year ago.