"There is strong momentum throughout our operations. Our operations also benefited from robust industry activity levels led by higher oil and gas prices, driving significant demand for our customer solutions. "Results were positively impacted by realized cost synergies from the Tervita transaction, which have progressed ahead of our expectations. "We are extremely pleased with our strong financial performance in the second quarter of 2022, demonstrating the strength of our expanded business, our ongoing focus on managing costs, and an overall improvement in our underlying markets," said Rene Amirault, President and Chief Executive Officer of SECURE. ("SECURE" or the "Corporation") (TSX: SES) reported the Corporation's operational and financial results for the three and six months ended J.
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Generated $66 million of discretionary free cash flow 1, up 267% from Q2 2021, and 91% on a per basic share basis 1.Achieved net income of $54 million and $0.17 per share, an increase of $67 million from Q2 2021.Adjusted EBITDA margin 1 of 36%, up from 26% in Q2 2021.G&A as a percentage of revenue (excluding oil purchase and resale) improved to 8% from 11% in Q2 2021.Generated revenue (excluding oil purchase and resale) of $355 million up 203% from Q2 2021.Released our 2021 Sustainability Report, demonstrating our commitment to sustainability with tangible short-term goals.
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Settled US$77 million, or 26% of our 11% senior secured notes as we continue to optimize our capital structure.
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Improved our Total Debt to EBITDA 2 covenant ratio to 2.5x.Earned $127 million and $0.41 per basic share of Adjusted EBITDA 1 in Q2, reflecting strong operational performance and realized synergies, up 310% from Q2 2021 and 116% on a per basic share basis.Realized $67 million of run-rate synergies impacting Adjusted EBITDA 1, reaching 89% of our $75 million target, on track to deliver the remainder by end of 2022.