Calfrac Well Services just misses Q3 revenue estimates; expects N.America activity decline

Calfrac Well Services

14/11/2025 11:09

Overview

Calfrac Q3 revenue slightly missed analyst expectations, declining 25% year-over-year

Company reports Q3 net income of C$4.3 mln, reversing a loss from last year

Calfrac announces C$35 mln rights offering to support debt reduction

Outlook

Calfrac expects North American activity to decline due to budget exhaustion and macroeconomic headwinds

Company anticipates moderate increase in oil-directed activity in 2026

Calfrac sees positive 2026 outlook for Vaca Muerta with second fracturing fleet addition

Result Drivers

NORTH AMERICA ADJUSTMENTS - Improved margins due to reduced operating footprint and personnel cuts in North America

ARGENTINA FUND REPATRIATION - Successful fund repatriation from Argentina contributed to debt reduction

RIGHTS OFFERING - C$35 mln rights offering announced to support debt reduction efforts

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Miss*
C$323.41 mln
C$326 mln (1 Analyst)
Q3 EPS
C$0.05
Q3 Net Income
C$4.30 mln
Q3 Adjusted EBITDA
C$48.47 mln
Q3 Capex
C$32.82 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil related services and equipment peer group is "buy"

Wall Street's median 12-month price target for Calfrac Well Services Ltd is C$4.00, about 19.8% above its November 13 closing price of C$3.21

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 18 three months ago

Press Release: ID:nGNXbF4g9x

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)