Enservco Q4 net loss widens to $1.9M on $0.5M goodwill write-down; Adjusted EBITDA turns positive

Enservco Corp

2024-Q1 EPS reported $0.03 revenue$9,792,000

Q4 revenue flat at $6.5M; completions services revenue up 10% to $4.3M, production services down 16% to $2.2M.
Full-year 2023 revenue $22.1M (+2% YoY); net loss $8.5M vs $5.6M in 2022, including a $4.3M non-cash debt extinguishment gain in 2022.
Adjusted EBITDA improved to +$62K in Q4 (from -$77K YoY) and -$1.5M for full year (from -$2.7M), a 46% improvement.
Total debt reduced 28% to $8.7M at year-end 2023; announced agreement to acquire Buckshot Trucking, expected to close Q2 2024.

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 0.9

Enservco Corp reported three months ended December 31, 2023 results: revenue $6.5 million, net income $1.9 million.

Period: three months ended December 31, 2023
Revenue: $6.5 million
Net income: $1.9 million
Result: reported results

Exact text from the filing

Total revenue in the fourth quarter came in at $6.5 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Enservco Corp reported the fiscal year ended December 31, 2023 results: revenue $22.1 million, net income $8.5 million.

Period: the fiscal year ended December 31, 2023
Revenue: $22.1 million
Net income: $8.5 million
Result: reported results

Exact text from the filing

Full year revenue came in at $22.1 million for 2023

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Source: SEC EDGAR

accession 0001437749-24-010993

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