Logotype for Profire Energy Inc

Profire Energy (PFIE) investor relations material

Profire Energy Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Profire Energy Inc
Q3 2024 earnings summary5 Nov, 2024

Executive summary

  • Q3 2024 revenue reached a record $17.2M, up 15% year-over-year, driven by diversification and higher customer demand despite lower oil and gas prices.

  • Net income for Q3 2024 was $2.18M, up from $2.04M in Q3 2023, with operating income at $2.75M.

  • Diversified revenue represented 26% of total revenue in Q3 2024, up from 17% in the prior year quarter.

  • The company entered a definitive merger agreement with CECO Environmental Corp. for an all-cash acquisition at $2.55 per share, expected to close in Q1 2025.

  • No earnings conference call was held due to the pending transaction.

Financial highlights

  • Q3 2024 total revenue: $17.2M (up 15% year-over-year); nine-month revenue: $46.0M (up 4.1%).

  • Q3 2024 gross profit margin: 48.2%, down from 50.0% in Q3 2023; nine-month gross margin: 49.8%.

  • Q3 2024 operating expenses: $5.53M, up $0.60M year-over-year due to headcount and inflation.

  • Q3 2024 net income: $2.18M; nine-month net income: $5.68M (down 24.1% year-over-year).

  • EBITDA for the quarter was $3.1M, compared to $2.9M in the prior-year quarter.

Outlook and guidance

  • Growth expected from diversification into critical energy infrastructure and non-oil and gas projects, though these may carry lower margins.

  • Future liquidity will depend on industry trends and developments, which remain uncertain.

  • Forward-looking statements caution on risks and uncertainties, including economic and regulatory factors.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Profire Energy Inc. is a technology company that provides solutions for combustion management in the oil and gas industry. The company designs and manufactures burner management systems and related components, which are used to enhance the efficiency, safety, and automation of combustion processes. Profire Energy serves upstream, midstream, and downstream oil and gas operations. The company is headquartered in Lindon, Utah, and its shares are listed on the NASDAQ.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage