Canada's McCoy Global Q2 revenue rises 21%

McCoy Global

08/08/2025 12:21

Overview

McCoy Global Q2 revenue rises 21% yr/yr, driven by smarTR technology commercialization

Net earnings for Q2 fall 56% due to higher stock-based compensation expenses

Adjusted EBITDA for Q2 increases slightly, reflecting stable operational performance

Outlook

Company expects tempered Q3 revenue and earnings growth due to market conditions

McCoy anticipates medium-term stability in MENA oil & gas markets

Company sees additional TRS contract awards in Eastern Hemisphere markets

McCoy focuses on strategic initiatives to drive long-term value creation

Result Drivers

SMARTPRODUCT REVENUE - SmartProduct revenue rose 117%, now accounting for 58% of total revenue, driven by smarTR technology commercialization

STOCK-BASED COMPENSATION - Net earnings impacted by higher stock-based compensation expenses due to share price appreciation

BAD DEBTS - Adjusted EBITDA margins affected by provisions for bad debts, contrasting with previous period recovery

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
C$24.05 mln
Q2 Net Income
C$1.37 mln
Q2 Adjusted EBITDA
C$4.82 mln
Q2 EBITDA
C$2.98 mln
Q2 Gross Profit
C$8.70 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

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

Wall Street's median 12-month price target for McCoy Global Inc is C$6.00, about 39.7% above its August 7 closing price of C$3.62

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nCNW3vnrSa

(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.)