Canada · Delayed Price · Currency is CAD Total Energy Services Earnings Call Transcripts
Fiscal Year 2025
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Record Q4 and annual results driven by strong CPS and Australian operations, with a 22% revenue increase and significant backlog growth. Exited U.S. Well Servicing to redeploy capital, maintained a robust balance sheet, and increased 2026 capital budget for rig upgrades.
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Q3 2025 delivered 8% revenue growth, led by strong Australian and compression equipment demand, despite margin pressure from cost inflation and legacy low-margin orders. Record backlog and a strong balance sheet support continued investment and growth.
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Record Q2 results with 17% revenue and 21% EBITDA growth, led by strong Australian and CPS segment performance. Sales backlog hit CAD 303.9 million, and capital spending is increasing to expand U.S. capacity and upgrade rigs. Balance sheet remains strong with low leverage.
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Q1 2025 saw 23% revenue growth and 17% higher EBITDA, driven by strong CPS and Australian performance, despite lower North American margins. Record CPS backlog and increased capital budget support positive outlook amid stable industry conditions and ongoing share repurchases.
Fiscal Year 2024
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Q4 2024 revenue grew 15% year-over-year, driven by acquisitions and strong CPS performance, but EBITDA declined due to lower U.S. activity and weather impacts. The company maintained a strong financial position, increased its dividend, and set a robust 2025 capital budget focused on upgrades and growth.
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Record Q3 2024 results driven by strong Australian and North American demand, Saxon acquisition, and improved margins. Capital budget increased for rig upgrades, with stable financial position and positive outlook amid competitive U.S. and stable Canadian markets.
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Record Q2 2024 results driven by stable Canadian/Australian markets, strong CPS demand, and the Saxon acquisition. EBITDA and margins improved, with robust cash flow and a growing sales backlog supporting a positive outlook for H2 2024.