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High Arctic Energy Services Inc (HGHAF)
OTHER OTC:HGHAF
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Earnings Data
Report Date
Mar 14, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 08, 2018
|% Change Since: 5.75%
|Next Earnings Date:Aug 09, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook with significant achievements in the reorganization and strong performance in Canadian operations. However, challenges in the PNG and Alaskan operations, along with delayed project timelines, balanced the positive aspects.Company Guidance
During the Q2 2024 earnings call for High Arctic Energy Services (HWO.TO), executives provided guidance on several key metrics and strategic initiatives. Michael Maguire, the CEO, confirmed the completion of a corporate reorganization, resulting in the creation of a new publicly listed entity, High Arctic Overseas Holdings Corporation (SpinCo), with both entities now trading separately on the TSX Venture Exchange and TSX Main Exchange, respectively. This reorganization resulted in 12,448,166 new common shares for both High Arctic and SpinCo. In terms of operations, Rig 103 completed its drilling program, and rental activities in Papua New Guinea (PNG) have softened. Financially, the Delta Rentals acquisition has tripled revenues from continuing operations to $2.5 million in Q2 2024 and $5.5 million for the first half of the year, with a strong operating margin consistently in the high 40% range. SpinCo commences with no long-term debt and approximately USD 19 million in working capital, indicating a robust financial position to facilitate future growth, potentially through M&A activities in the region.Successful Reorganization and Spin-Off
High Arctic has completed its reorganization, resulting in the spin-off of the PNG business into a new publicly listed entity named High Arctic Overseas Holdings Corporation (SpinCo).
Increased Revenues in Canadian Operations
Revenues from continuing operations increased approximately 3x for both the 3- and 6-month periods ended June 30, 2024, compared to the same periods in 2023, with Q2 2024 revenues at $2.5 million and a strong operating margin in the high 40% range.
Positive Cash Flow and Strong Financial Position
The Canadian business has positive working capital of approximately $5 million, including $4 million in cash, with only $3.4 million in mortgage debt.
Future Growth Optimism for PNG Operations
Despite current challenges, there is optimism for future drilling opportunities in PNG related to the Papua LNG project and other large-scale projects, which could significantly boost operations.
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HGHAF Earnings History
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
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HGHAF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 15, 2024 | $0.87 | $0.90 | +3.45% |
| Aug 15, 2024 | $1.95 | $2.04 | +4.62% |
| May 16, 2024 | $1.78 | $1.89 | +6.18% |
| Apr 08, 2024 | $1.48 | $1.62 | +9.46% |
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.
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FAQ
When does High Arctic Energy Services Inc (HGHAF) report earnings?
High Arctic Energy Services Inc (HGHAF) is schdueled to report earning on Mar 14, 2025, TBA Not Confirmed.
What is High Arctic Energy Services Inc (HGHAF) earnings time?
High Arctic Energy Services Inc (HGHAF) earnings time is at Mar 14, 2025, TBA Not 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 HGHAF EPS forecast?
Currently, no data Available
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