Bri-Chem Announces 2026 Third Quarter Financial Results

(TSX: BRY) Bri-Chem Corp. announced its financial results for the third quarter ended September 30, 2026. Consolidated sales for the three months ended September 30, 2026 were $18,351,000, an increase of $159,000 or 1% compared to $18,192,000 in the same period in 2025. For the nine months ended September 30, 2026, sales were $50,423,000, a decrease of $8,214,000 or 14% from $58,637,000 in 2025. Adjusted EBITDA for Q3 2026 was $925,000, up $89,000 or 11% from $836,000 in Q3 2025, while for the nine months it was $1,921,000, down $425,000 or 18% from $2,346,000 in 2025. Operating earnings for Q3 2026 were $680,000, an increase of $103,000 or 18% from $576,000 in Q3 2025. Adjusted net earnings for Q3 2026 were $314,000, up $298,000 or 1832% from $16,000 in Q3 2025. Net earnings for Q3 2026 were $423,000, an increase of $263,000 or 164% from $160,000 in Q3 2025. Adjusted EBITDA per diluted share for Q3 2026 was $0.03, unchanged from Q3 2025, and for the nine months was $0.07, down from $0.09 in 2025. Adjusted net earnings per diluted share for Q3 2026 was $0.01, unchanged from Q3 2025, and for the nine months was $0.00, up from $(0.02) in 2025. Net earnings per diluted share for Q3 2026 was $0.02, up from $0.01 in Q3 2025, and for the nine months was $0.00, up from $(0.01) in 2025. Total assets as at September 30, 2026 were $42,580,000, down from $48,855,000 in 2025. Working capital at September 30, 2026 was $6,241,000, a decrease of $4,548,000 or 42% from $10,790,000 in 2025. Long-term debt was nil at September 30, 2026, down from $6,331,000 in 2025. Shareholders' equity was $21,042,000 at September 30, 2026, up $1,494,000 or 8% from $19,547,000 in 2025. The increase in consolidated sales was primarily due to increased sales in the US fluids blending and packaging division, offset by decreased sales in the fluids distribution divisions due to warehouse closures. Consolidated gross margin for Q3 2026 decreased by $505,000 compared to the same period last year, mainly due to the liquidation of oil-based mud (OBM) below cost, offset by increased realized margins in other divisions. The Canadian drilling fluids distribution division generated sales of $2,100,000 for Q3 2026, down $184,000 or 8% from the prior year. The United States drilling fluids distribution division generated sales of $8,900,000 for Q3 2026, down $600,000 or 6% from $9,500,000 in 2025. The active number of US operating land rigs in Q3 2026 averaged 576, up from 525 in Q3 2025, an increase of approximately 10%. The Canadian blending and packaging division generated sales of $3,700,000 for Q3 2026, consistent with the prior year. US blending and packaging sales for Q3 2026 were $3,600,000, up from $2,700,000 in the prior year, a 34% increase. Management highlighted progress on operational and financial initiatives, including the completion of OBM inventory liquidation and reductions in SG&A and salaries and benefits costs. The company remains focused on improving efficiency, optimizing product mix, and maintaining a disciplined cost structure. Looking ahead, management expects Canadian drilling activity to benefit from typical seasonal increases in winter, while US drilling activity is expected to remain dependent on producer capital allocation and market economics. Bri-Chem's priorities for the remainder of 2026 and into 2027 include sustaining margin improvements, preserving lower SG&A and salaries and benefits costs, and aligning operating expenses with revenue levels.

Bri-Chem Announces 2026 Second Quarter Financial Results

(TSX: BRY) Bri-Chem Corp. announced its 2026 second quarter financial results, reporting consolidated sales for the three months ended June 30, 2026 of $15.5 million, representing a 24% decrease from the prior year. Adjusted EBITDA for the second quarter 2026 was $184 thousand, a decrease of $861 thousand compared to the same period in the prior year. Operating earnings for the three months ended June 30, 2026 were $29 thousand, down from $772 thousand in the same period in the prior year. Bri-Chem's Canadian drilling fluids distribution division generated sales of $1.8 million for the three months ended June 30, 2026, which was lower than the comparable prior period by 1%. Bri-Chem's United States drilling fluids distribution division generated sales of $7.4 million for the three months ended June 30, 2026, compared to $12.3 million for the comparable period in 2025, representing a quarterly decrease of 40%. Working capital as at June 30, 2026 was $5.4 million, a decrease of 51% over the same period in the prior year. Management expects the North American drilling environment to remain relatively stable through the balance of 2026, with limited overall growth in industry activity.

Bri-Chem Announces 2026 First Quarter Financial Results

Bri-Chem Corp. (TSX: BRY) announced its 2026 first quarter financial results, reporting consolidated sales of $17 million for the three months ended March 31, 2026, a 17% decrease from the prior year. Adjusted EBITDA increased to $812 thousand from $465 thousand, and operating earnings rose to $642 thousand from a loss of $23 thousand in the previous year. Working capital decreased by 48% to $5.4 million, and total assets declined to $43,514 thousand. The company attributes the sales decrease primarily to reduced sales in the United States following the sale of a customer to a competitor and the discontinuation of services. Management remains focused on cost discipline, streamlining operations, and transitioning toward higher-margin opportunities.

Bri-Chem Renews Extension on its Senior Banking Facility

Bri-Chem Corp. (TSX: BRY) (OTCQB: BRYFF) announced it has entered into an agreement with the Canadian Imperial Bank of Commerce (CIBC) to renew its senior credit facilities (ABL Facility) with a borrowing base of $25 million. The ABL Facility is now committed until April 30, 2027, and bears interest at the Canadian prime rate plus 0.75%, or at the Company's option, CORRA or SOFR plus 2.25%. The borrowing base under the ABL Facility has been reduced from $37.5 million to $25.0 million. The facility includes a standby fee of 0.25% on undrawn amounts and is secured by a general security agreement over all present and after-acquired inventory and accounts receivable. This renewal positions Bri-Chem for more efficient capital deployment.