Dawson Geophysical reports Q2 2023 revenue of $20.2M, net loss of $4.4M ($0.18 per share), narrower than prior year

DAWSON GEOPHYSICAL CO

2023-Q2 EPS reported -$0.19 revenue$49,627,000

Revenue $20.2M vs $4.8M YoY; net loss $4.4M ($0.18/sh) vs $7.6M ($0.30/sh) prior year.
Negative EBITDA $2.5M versus $4.6M in Q2 2022; transaction costs of $685,000 excluded from adjusted net loss of $3.7M ($0.15/sh).
Started Q2 with two mid-sized crews, dropped to one crew due to weather and delays; anticipate second crew mid-late Q3, full utilization by Q4.
Acquired Breckenridge Geophysical assets in Q1; $9.9M convertible note to Wilks for ~5.8M shares pending shareholder approval.
CEO cites carbon capture opportunities as growth momentum; several large projects expected in 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

DAWSON GEOPHYSICAL CO reported the quarter ended June 30, 2023 results: revenue $20,219,000, net income net loss of $4,430,000, EPS $0.18 loss per common share.

Period: the quarter ended June 30, 2023
Revenue: $20,219,000
Net income: net loss of $4,430,000
EPS: $0.18 loss per common share
Result: preliminary results

Exact text from the filing

the Company reported revenues of $20,219,000 compared to $4,765,000 for the comparable quarter ended June 30, 2022.

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Source: SEC EDGAR

accession 0001104659-23-085509

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