Canada · Delayed Price · Currency is CAD Source Energy Services Earnings Call Transcripts
Fiscal Year 2025
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Q4 2025 delivered record volumes and revenue, with annual sand sales up 5% and net income rising to CAD 33.1 million. 2026 is expected to see steady activity, with growth anticipated in the back half as LNG Canada ramps up and export capacity increases.
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Q3 2025 saw a 31% drop in sand volumes and lower revenues due to deferred completions, but infrastructure expansion and share repurchases continued. A strong Q4 rebound and growth in 2026 are expected, supported by LNG export developments.
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Record Q2 sales volumes and revenue growth were driven by strong completion activity and logistics expansion. Outlook for 2026 remains robust, supported by LNG Canada ramp-up and positive industry trends.
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The meeting confirmed a quorum, set the board at four directors, and approved all resolutions, including director elections and auditor appointment. No shareholder questions were raised, and voting results will be filed on SEDAR+.
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Record sand sales and revenue growth were achieved in Q1 2025, supported by strategic facility expansions and strong industry demand. Adjusted gross margin per ton is expected to remain stable, with 5%-10% volume growth projected for the year.
Fiscal Year 2024
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Record revenue and EBITDA were achieved in 2024, driven by strong sand sales and logistics expansion. Liquidity improved with refinancing, and 2025 is expected to see continued growth, supported by industry fundamentals and major capital projects.
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Record Q3 results with all-time highs in sand volumes, revenue, and EBITDA, driven by strong logistics and customer activity. Free cash flow and margins improved year-over-year, with positive outlook for Q4 and 2025 amid robust industry fundamentals and ongoing refinancing progress.
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Record sand volumes and revenues were achieved, with strong growth in Last Mile Logistics and wellsite services. Free cash flow and adjusted EBITDA improved significantly year-over-year, while new infrastructure and partnerships position the company for continued growth amid robust LNG-driven demand.