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CES Energy Solutions Corp (TSE:CEU)
TSX:CEU
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.21Last Year’s EPS
0.2Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 08, 2018
|% Change Since: 9.06%
|Next Earnings Date:Aug 09, 2018
Earnings Call Sentiment|Positive
The earnings call highlighted record-breaking revenue and growth, strong EBITDA margins, and effective capital allocation, demonstrating robust financial performance and market leadership. However, there were challenges with increased debt levels and decreased cash flow from operations due to strategic investments.Company Guidance
During the CES Energy Solutions Q3 2024 earnings call, Kenneth Zinger, President and CEO, discussed several key financial metrics and strategic initiatives. The company achieved record quarterly revenue of $607 million, a 13% increase from the previous year, and an all-time high quarterly EBITDA of $103 million, marking a 28% rise from Q3 2023. The EBITDA margin improved to 16.9% from 15% the previous year. CES repurchased 9 million shares at an average price of $7.68, representing 47% of their current NCIB program. Free cash flow for the quarter was $40.1 million, contributing to a year-to-date total of $152.3 million. Total debt to trailing 12 months EBITDA rose slightly to 1.14x, remaining within the targeted range of 1x to 1.5x. The cash conversion cycle improved to a record 101 days, below the target range of 110 to 115 days. The company plans to maintain its quarterly dividend of $0.03 per share and increase its CapEx to $85 million for 2024, with expectations to reduce it to $75 million in 2025. CES's North American rig count stood at 196, with notable market shares in both Canada and the U.S., including a 31% share in the Permian Basin. The integration of the Hydrolite acquisition is progressing well, contributing to CES's market share growth and strategic expansion efforts.Record-Breaking Revenue and Growth
All-time record quarterly revenue of $607 million, which was 13% higher than Q3 of last year and almost 3% higher than the prior quarterly record.
Strong EBITDA and Margins
All-time quarterly EBITDA of $103 million, ahead of last year's Q3 by 28%, with an EBITDA margin of 16.9% versus 15% in Q3 of 2023.
Effective Capital Allocation
Repurchased 9 million shares under the NCIB plan at an average price of $7.68, representing 47% of the current program in just 3.5 months.
Cash Flow and Financial Strength
Free cash flow of $40.1 million during the quarter, and $152.3 million year-to-date at September 30. Total debt to trailing 12 months EBITDA rose slightly to 1.14x, but remained well below the 1.49x reported at year-end 2023.
Market Share in North America
Industry-leading North American land market share of over 25% with 196 rigs out of the 782 listed.
Canadian Segment Performance
Canadian Drilling Fluids Group leads the WCSB in market share with 36.3%. Active drilling rig count in Canada trending higher by approximately 10% to 15% year-over-year.
Successful U.S. Operations
AES, the U.S. drilling fluids group, maintains #1 market share of U.S. land rigs at just over 21%, with significant contributions from the Permian Basin.
Jacam Catalyst Division Growth
Continued to lead the company with growth in Q3, winning more business and taking market share, especially in the Permian Basin.
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TSE:CEU 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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TSE:CEU Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | C$8.46 | C$9.31 | +10.02% |
| Aug 08, 2024 | C$7.46 | C$7.61 | +2.00% |
| May 08, 2024 | C$5.93 | C$6.36 | +7.16% |
| Feb 29, 2024 | C$4.19 | C$4.69 | +11.73% |
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 CES Energy Solutions Corp (TSE:CEU) report earnings?
CES Energy Solutions Corp (TSE:CEU) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is CES Energy Solutions Corp (TSE:CEU) earnings time?
CES Energy Solutions Corp (TSE:CEU) earnings time is at Mar 06, 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 TSE:CEU EPS forecast?
TSE:CEU EPS forecast for the fiscal quarter 2024 (Q4) is 0.21.
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