Enservco Q1 net income $0.7M vs loss $1.0M; revenue up 10%; Buckshot acquisition closing early Q3

Enservco Corp

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

Revenue $9.8M, up 10% YoY; net income $0.7M ($0.03/diluted) vs net loss $1.0M ($0.07/diluted).
Adjusted EBITDA $2.2M, up 125% from $0.99M; operating income $1.3M vs operating loss $0.5M.
Completion services segment profit $2.9M (+97%); production services profit $364K (-33%).
General & administrative expenses down 18% due to reduced legal costs from shareholder litigation.
Pending acquisition of Buckshot Trucking LLC; financing being evaluated, closing targeted early Q3 2024.

item 2.02 item 8.01 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 first quarter of 2024 results: revenue $9,792, net income $740, EPS $0.03.

Period: first quarter of 2024
Revenue: $9,792
Net income: $740
EPS: $0.03
Result: reported results

Exact text from the filing

today announced operational and financial results for the first quarter of 2024. FINANCIAL SUMMARY (in 000 ’ s, except per share data) Q1 2024 Q1 2023 % Change Revenues $ 9,792 $ 8,912 10% Production services $ 2,485 $ 2,863 (13%) Completion and other services $ 7,307 $ 6,049 21% Segment profit $ 3,261 $ 2,015 62% Production services $ 364 $ 546 (33%)

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Source: SEC EDGAR

accession 0001437749-24-017380

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