Archer Limited: Strong fourth quarter and increased 2023 guidance
Hamilton, Bermuda (February 28, 2023) Fourth Quarter 2022 Highlights · Revenue of $264 million, up 10% from last quarter · EBITDA before exceptional items of $29.2 million, up 23% from last quarter · Positive net results for Q4 of $16.4 million and full year 2022 of $9.8 million · Finalized the 50% investment in Iceland Drilling Subsequent events · Acquired P&A specialist Romar-Abrado · Announced the acquisition of Baker Hughes’ coil tubing and pumping business in UK · Raises EBITDA guidance for 2023 to 25%-35% above 2022 On the solid fourth quarter, Dag