CES Energy Solutions Corp. (TSX:CEU)

CES Energy Solutions Income Statement

Financials in millions CAD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	2,435	2,354	2,164	1,922	1,196	888.05
Revenue Growth (YoY)	5.79%	8.79%	12.55%	60.67%	34.73%	-30.47%
Cost of Revenue	1,858	1,773	1,684	1,525	938.24	716.18
Gross Profit	576.69	581.08	479.35	396.95	258.18	171.87
Selling, General & Admin	293.17	298.97	242.17	206.18	162.54	147.7
Amortization of Goodwill & Intangibles	-	-	-	-	15.16	15.44
Operating Expenses	309.97	314.81	256.18	229.96	184.59	171.49
Operating Income	266.72	266.27	223.17	166.99	73.59	0.38
Interest Expense	-34.78	-35.6	-43.85	-31.11	-22.55	-24.11
Currency Exchange Gain (Loss)	-12.75	-26.92	6.04	-10.43	-0.67	-0.94
Other Non Operating Income (Expenses)	7.14	32.2	4.21	1.31	1.38	0.7
EBT Excluding Unusual Items	226.32	235.95	189.57	126.75	51.75	-23.96
Merger & Restructuring Charges	-0.08	-	-	-	-	-2.77
Impairment of Goodwill	-	-	-	-	-	-248.91
Asset Writedown	-	-	-	-	-	-12.28
Other Unusual Items	-	-	-	-	0.58	11.12
Pretax Income	226.24	235.95	189.57	126.75	52.33	-276.8
Income Tax Expense	47.96	44.85	34.93	31.54	2.45	-53.9
Earnings From Continuing Operations	178.28	191.11	154.64	95.22	49.88	-222.9
Net Income	178.28	191.11	154.64	95.22	49.88	-222.9
Net Income to Common	178.28	191.11	154.64	95.22	49.88	-222.9
Net Income Growth	-10.16%	23.58%	62.41%	90.88%	-	-
Shares Outstanding (Basic)	223	232	249	255	255	263
Shares Outstanding (Diluted)	226	237	255	262	263	263
Shares Change (YoY)	-5.89%	-7.19%	-2.55%	-0.69%	0.12%	-3.50%
EPS (Basic)	0.80	0.82	0.62	0.37	0.20	-0.85
EPS (Diluted)	0.79	0.81	0.61	0.36	0.19	-0.85
EPS Growth	-5.27%	32.79%	69.44%	89.48%	-	-
Free Cash Flow	151.83	216.02	229.6	-55.13	-100.29	132.1
Free Cash Flow Per Share	0.67	0.91	0.90	-0.21	-0.38	0.50
Dividend Per Share	0.158	0.120	0.095	0.068	0.032	0.011
Dividend Growth	36.96%	26.32%	39.71%	112.50%	184.44%	-81.25%
Gross Margin	23.68%	24.69%	22.16%	20.65%	21.58%	19.35%
Operating Margin	10.95%	11.31%	10.32%	8.69%	6.15%	0.04%
Profit Margin	7.32%	8.12%	7.15%	4.95%	4.17%	-25.10%
Free Cash Flow Margin	6.24%	9.18%	10.61%	-2.87%	-8.38%	14.88%
EBITDA	304.8	319.64	269.82	218.25	121.72	53.1
EBITDA Margin	12.52%	13.58%	12.47%	11.35%	10.17%	5.98%
D&A For EBITDA	38.08	53.37	46.65	51.26	48.13	52.72
EBIT	266.72	266.27	223.17	166.99	73.59	0.38
EBIT Margin	10.95%	11.31%	10.32%	8.69%	6.15%	0.04%
Effective Tax Rate	21.20%	19.01%	18.43%	24.88%	4.68%	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.