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Calfrac Announces 2019 Second Quarter Results

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CALGARY, Aug. 1, 2019 /CNW/ - Calfrac Well Services Ltd. ("Calfrac" or "the Company") (TSX-CFW) announces its financial and operating results for the three and six months ended June 30, 2019.

HIGHLIGHTS

On January 1, 2019, Calfrac applied IFRS 16 using the modified retrospective approach under which comparative information has not been restated and continues to be reported under IAS 17 and related interpretations. Please refer to note 1 of the financial statements for additional information on the impact to the Company's financial information.


Three Months Ended June 30,


Six Months Ended June 30,


2019


2018


Change


2019


2018


Change

(C$000s, except per share and unit data)

($)


($)


(%)


($)


($)


(%)

(unaudited)












Revenue

429,638


544,602


(21)


904,650


1,127,440


(20)

Operating income(1)

41,103


66,528


(38)


84,726


134,502


(37)

Per share – basic

0.28


0.46


(39)


0.59


0.94


(37)

Per share – diluted

0.28


0.45


(38)


0.58


0.92


(37)

Adjusted EBITDA(1)

45,123


81,910


(45)


89,209


154,863


(42)

Per share – basic

0.31


0.57


(46)


0.62


1.08


(43)

Per share – diluted

0.31


0.56


(45)


0.61


1.06


(42)

Net loss attributable to the












shareholders of Calfrac before foreign












exchange gains or losses(2)

(41,831)


(14,571)


NM


(76,936)


(12,666)


NM

Per share – basic

(0.29)


(0.10)


NM


(0.53)


(0.09)


NM

Per share – diluted

(0.29)


(0.10)


NM


(0.53)


(0.09)


NM

Net loss attributable to the








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