Dawson Geophysical Q1 revenue up 34% to $29.4M; net loss narrows to $0.02/share

DAWSON GEOPHYSICAL CO

2023-Q1 EPS reported -$0.02 revenue$29,408,000

Revenue $29.4M, up 34% YoY (combined with Breckenridge); net loss $413K ($0.02/share) vs $1.385M loss.
Ex-Breckenridge, net income $562K vs net loss $2.39M; combined EBITDA $2.18M vs $1.70M.
Acquired Breckenridge assets March 24 for 1.19M shares and a $9.9M convertible note pending vote.
Cash and ST investments $16.2M; working capital $23.9M; capital budget $5M for 2023.
Operating two Lower 48 crews; Canada winter season ended; expect short low-utilization periods but improved 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

DAWSON GEOPHYSICAL CO reported the quarter ended March 31, 2023 results: revenue $29,408,000, net income net loss of $413,000, EPS $0.02 loss per common share.

Period: the quarter ended March 31, 2023
Revenue: $29,408,000
Net income: net loss of $413,000
EPS: $0.02 loss per common share
Result: preliminary results

Exact text from the filing

For the quarter ended March 31, 2023, which includes the results of Breckenridge for the entire quarter ended March 31, 2023, the Company reported revenues of $29,408,000, an increase of approximately 34% compared to $21,934,000 for the quarter ended March 31, 2022 (combined revenues of the Company and Breckenridge for such quarter). Excluding Breckenridge, the Company would have reported revenues of $28,626,000, an increase of approximately 56% compared to $18,359,000 for the quarter ended March 31, 2022. For the first quarter of 2023, the Company reported a net loss of $413,000 or $0.02 loss per common share compared to a net loss of $1,385,000 or $0.06 loss per common share for the first quarter of 2022 (combined results/net loss of the Company and Breckenridge for such quarter).

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Source: SEC EDGAR

accession 0001104659-23-060837

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