Ensign Energy's Q2 net loss widens on lower crude oil prices
Overview
Ensign Energy Q2 revenue falls 5% to C$372.4 mln, missing expectations
Adjusted EBITDA declines 19% to C$81.4 mln for Q2 2025
Net loss widens to C$26.4 mln from C$4.5 mln in Q2 2024
Outlook
Ensign targets C$600 mln debt reduction by end of 2025
Company budgets C$154 mln maintenance capital for 2025
Ensign sees Canadian growth from pipeline expansions and LNG projects
Company plans C$30.5 mln upgrade capital, C$19 mln customer funded
Result Drivers
U.S. UNCERTAINTY - Subdued activity in U.S. due to geopolitical tensions and global trade uncertainties, impacting results
OPEC+ SUPPLY - Increased crude supply from OPEC+ nations kept a ceiling on crude oil prices, affecting revenue
CONTRACT EXPIRY - International operations impacted by rigs coming off contract, contributing to revenue decline
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | C$372.40 mln | C$373.70 mln (4 Analysts) |
Q2 Net Income |
| -C$26.40 mln |
|
Q2 Adjusted EBITDA |
| C$81.40 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas drilling peer group is "buy."
Wall Street's median 12-month price target for Ensign Energy Services Inc is C$2.63, about 16.2% above its August 7 closing price of C$2.20
Press Release: ID:nCNWsqwd1a
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