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STEP Energy Services (TSE:STEP)
TSX:STEP
Holding TSE:STEP?
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Earnings Data
Report Date
Mar 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.3Last Year’s EPS
-0.07Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 08, 2018
|% Change Since: -13.52%
|Next Earnings Date:Aug 02, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mix of positive developments in the Canadian segment, technological advancements, and debt reduction, contrasted with significant challenges in the U.S. operations, an overall net loss, and a cautious outlook for Q4.Company Guidance
During the STEP Energy Services Q3 2024 earnings call, the company reported consolidated revenues of $256 million, a slight increase from $231 million in the previous quarter and nearly aligning with the $255 million in Q3 2023. Adjusted EBITDA was $44 million, reflecting a 17% margin, compared to $42 million (18% margin) in Q2 2024 and $52 million (21% margin) in Q3 2023. The company faced a net loss of $5.5 million, or $0.08 per diluted share, contrasting with net earnings of $10.5 million in Q2 2024 and $21 million in Q3 2023. A $12.7 million impairment was recognized in the U.S. fracturing CGU due to challenging market conditions. Canadian operations showed robust growth, with Q3 revenues reaching $211 million, driven by $173 million in fracturing and $38 million in coiled tubing revenues. U.S. operations faced a decline, with revenues dropping to $45 million. Free cash flow for the quarter was $28 million, down from $37 million in Q3 2023. Capital expenditures totaled $21 million, and net debt was reduced to $61 million from $76 million in the previous quarter. Looking ahead, STEP expects a challenging Q4 due to weakening commodity prices but remains optimistic about future LNG growth prospects. The company also announced a proposed transaction to go private with ARC Financial, highlighting strong confidence in STEP's future direction.Canadian Segment Revenue Growth
Q3 revenue for the Canadian segment rose to $211 million from $158 million in Q3 of last year, with fracturing revenues of $173 million and coiled tubing revenues of $38 million.
Record Sand Pumped in Canadian Operations
STEP pumped a record 570,000 metric tons of sand in Q3, representing an 80% increase year-over-year.
Debt Reduction Success
STEP ended the quarter with net debt of $61 million, down from $76 million in Q2, and has paid down nearly $250 million of debt since 2018.
Technological Advancements in Fracturing Fleets
75% of STEP's Tier 2 and Tier 4 engines in the fracturing fleet now have dual fuel technology, reducing diesel usage by up to 85%.
Record Depth Achieved in Coiled Tubing
In Q3, STEP set an industry-leading milestone by completing a milling program to a record depth of 30,200 feet in the Williston Basin.
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TSE:STEP 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:STEP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | C$5.03 | C$5.04 | +0.20% |
| Aug 06, 2024 | C$4.15 | C$4.19 | +0.96% |
| May 08, 2024 | C$3.99 | C$4.26 | +6.77% |
| Mar 12, 2024 | C$4.31 | C$3.75 | -12.99% |
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 STEP Energy Services (TSE:STEP) report earnings?
STEP Energy Services (TSE:STEP) is schdueled to report earning on Mar 13, 2025, TBA Not Confirmed.
What is STEP Energy Services (TSE:STEP) earnings time?
STEP Energy Services (TSE:STEP) earnings time is at Mar 13, 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:STEP EPS forecast?
TSE:STEP EPS forecast for the fiscal quarter 2024 (Q4) is -0.3.
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