North America paid the quarter. Argentina gets the growth cheque
Calfrac Well Services (TSX: CFW) reported second-quarter 2026 results on August 6. Revenue was $426.7 million, up 6 percent from Q2 2025. Net income was $31.8 million, or $0.32 per diluted share, up 108 percent from $15.3 million a year earlier, helped by lower interest expense and stronger North American operations. Adjusted EBITDA was $73.8 million, 17 percent of revenue, down from $77.0 million in Q2 2025 as Argentine pricing normalized.
Net debt decreased 36 percent in the quarter to $125.8 million, which the company described as a decade low. Calfrac also had TSX approval for a normal course issuer bid of up to 5.0 million shares, about 5 percent of the float.
After June 30 the board approved about $22.6 million of incremental 2026 capital spending. That includes expanding coiled tubing capacity in Argentina on a new three-year committed contract and adding cementing capacity for Vaca Muerta. Calfrac completed its first wireline job in Argentina with its own unit during the quarter.