Ensign Energy's Q2 net loss widens on lower crude oil prices

Ensign Energy Services

08/08/2025 10:13

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

(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.)