Despite challenges due to wildfires and increased capital expenditures, MEG Energy demonstrated strong financial performance with significant free cash flow, a successful turnaround, and strategic growth initiatives. The company remains on track with its expansion project and increased its dividend, signaling confidence in its business model.

Company Guidance -

Q3 2025

During MEG Energy's Second Quarter 2025 conference call, President and CEO Darlene Gates highlighted significant achievements and future guidance. The company successfully completed the largest planned turnaround in its history, managing to do so on time and within budget despite the challenges posed by regional wildfires. This effort, along with over 150 tie-ins for a facility expansion project, is set to add 25,000 barrels per day of production capacity by mid-2027. MEG generated $148 million in free cash flow in the first half of the year and returned $220 million to shareholders, repurchasing approximately 3% of shares outstanding. The company maintains its full-year 2025 operating and capital guidance, with production in July averaging about 109,000 barrels per day. The Board approved a 10% increase in the quarterly dividend, raising it to $0.11 per share, reflecting confidence in their business model. MEG anticipates generating over $500 million in free cash flow for the year at current strip pricing. Additionally, operating costs are expected to decrease as production rises, with capital expenditures in Q2 totaling $200 million. The ongoing strategic growth initiatives aim to deliver low-risk, capital-efficient growth, targeting 135,000 barrels per day.

Successful Turnaround Completion

MEG Energy completed the largest planned turnaround in its history on time, on budget, and with exceptional safety performance despite wildfire conditions.

Significant Free Cash Flow and Shareholder Returns

MEG generated $148 million in free cash flow in the first half of the year and returned $220 million to shareholders, repurchasing approximately 3% of shares outstanding. They expect to generate over $500 million of free cash flow in 2025.

Facility Expansion Project on Track

The facility expansion project, set to add 25,000 barrels per day by mid-2027, is on track and on budget, with 150 tie-ins completed to minimize future production interruptions.

Dividend Increase

The Board approved a 10% increase in the quarterly dividend, raising it to $0.11 per share, payable on October 15, 2025.

Reduced Operating Costs Expected

Operating costs net of power revenue were $10.88 per barrel in Q2, expected to significantly decrease as production rises in the second half of 2025.

MEG Energy (TSE:MEG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:MEG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	0.57 / -	0.62	―	―	―
Jul 31, 2025	2025 (Q2)	0.12 / 0.26	0.5	-48.00% (-0.24)	―
May 06, 2025	2025 (Q1)	0.67 / 0.82	0.36	127.78% (+0.46)	―
Feb 27, 2025	2024 (Q4)	0.59 / 0.40	0.37	8.11% (+0.03)	―
Nov 05, 2024	2024 (Q3)	0.71 / 0.62	0.86	-27.91% (-0.24)
Jul 25, 2024	2024 (Q2)	0.64 / 0.50	0.47	6.38% (+0.03)	―
May 06, 2024	2024 (Q1)	0.52 / 0.36	0.28	28.57% (+0.08)	―
Feb 29, 2024	2023 (Q4)	0.56 / 0.37	0.53	-30.19% (-0.16)	―
Nov 06, 2023	2023 (Q3)	0.90 / 0.86	0.51	68.63% (+0.35)
Jul 27, 2023	2023 (Q2)	0.39 / 0.47	0.72	-34.72% (-0.25)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:MEG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	C$27.31	C$26.60	-2.60%
May 06, 2025	C$19.58	C$19.29	-1.53%
Feb 27, 2025	C$22.77	C$22.34	-1.88%
Nov 05, 2024	C$26.17	C$27.00	+3.17%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does MEG Energy (TSE:MEG) report earnings?

MEG Energy (TSE:MEG) is schdueled to report earning on Nov 04, 2025, Before Open (Confirmed).

What is MEG Energy (TSE:MEG) earnings time?

MEG Energy (TSE:MEG) earnings time is at Nov 04, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:MEG EPS forecast?

TSE:MEG EPS forecast for the fiscal quarter 2025 (Q3) is 0.57.

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