Dawson Geophysical Q1 net income $5.8M, revenue $31.6M (+7% YoY)

DAWSON GEOPHYSICAL CO

2024-Q1 EPS reported $0.19 revenue$31,584,000

Revenue $31.6M, up 7% YoY from $29.4M; gross margin improved to 35% from 25%.
Net income $5.8M ($0.19 per share); EBITDA $7.6M vs $2.2M in Q1 2023.
Special cash dividend of $0.32/share paid May 6, aggregate ~$9.9M.
Expects to reduce to one US crew later in Q2 from two in Q1.
Cash and restricted cash $16.5M at quarter-end; $5M collateral released, credit facility closed.

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

DAWSON GEOPHYSICAL CO reported first quarter ended March 31, 2024 results: revenue $31.6 million, net income $5.8 million, EPS $0.19 per common share.

Period: first quarter ended March 31, 2024
Revenue: $31.6 million
Net income: $5.8 million
EPS: $0.19 per common share
Result: preliminary results

Exact text from the filing

For the first quarter ended March 31, 2024, the Company reported revenues of $31.6 million, an increase of 7% compared to $29.4 million for the comparable quarter ended March 31, 2023. Revenue included reimbursable revenue of $4.8 million and $7.1 million for the quarters ended March 31, 2024, and March 31, 2023, respectively. Gross margin 1 for the quarter ended March 31, 2024, was 35% compared to 25% for the comparable quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001558370-24-007972

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