E is up 118% YoY, making it one of the best performing stocks on our list of oilfield services companies.

In 2023, EBITDA was up 61% YoY, missing our estimate by just 1%. Revenue was up 25% YoY, missing our estimate by 7% due to project delays caused by forest fires, and unusually warm weather in Q4. We anticipate that some of these projects will be rescheduled to H1-2024 and therefore, revenue from these projects has been deferred rather than lost.