Gear Energy Ltd. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was CAD 31.82 million compared to CAD 49.45 million a year ago. Net income was CAD 5.55 million compared to CAD 23.31 million a year ago. Basic earnings per share from continuing operations was CAD 0.02 compared to CAD 0.09 a year ago. Diluted earnings per share from continuing operations was CAD 0.02 compared to CAD 0.09 a year ago.
For the six months, revenue was CAD 61.41 million compared to CAD 90.16 million a year ago. Net income was CAD 7.54 million compared to CAD 29.54 million a year ago. Basic earnings per share from continuing operations was CAD 0.03 compared to CAD 0.11 a year ago. Diluted earnings per share from continuing operations was CAD 0.03 compared to CAD 0.11 a year ago.