Canada's Ensign Energy Q1 revenue falls 4% on lower Canadian activity

Ensign Energy Services

07/05/2026 10:09

Corrects Q1 Core EPS metric in Key Details table to Q1 EPS, value unchanged

Overview

Canada oilfield services firm's Q1 revenue fell 4% yr/yr on lower Canadian activity and FX impact

Adjusted EBITDA for Q1 declined 7% yr/yr

Company posted Q1 net loss vs net income a year earlier

Outlook

Company targets C$125.0 mln debt reduction for 2026

Ensign budgeted C$162.0 mln maintenance capital expenditures for 2026

Canadian activity expected to remain steady in 2026; trade tariffs may impact near-term

Result Drivers

CANADIAN ACTIVITY DROP - Co said lower Q1 revenue was mainly due to decreased operating activity in Canada, driven by changes in customer drilling programs

NEGATIVE FX IMPACT - Co said a 4% negative translation effect from converting USD-denominated revenue reduced reported results

U.S. ACTIVITY MIX - Co said higher U.S. drilling activity did not boost revenue due to less flow-through revenue and FX impact

Company press release: ID:nCNWpXBGba

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
C$418 mln
Q1 EPS
-C$0.06
Q1 Net Income
-C$11.10 mln
Q1 Adjusted EBITDA
C$94.80 mln
Q1 FFO Per Share
C$0.48


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(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.)