Oilwell construction services provider McCoy Global Q3 revenue down 6% on deferred shipments

McCoy Global

07/11/2025 12:14

Overview

McCoy Q3 revenue fell 6% yr/yr due to deferred shipments

Net earnings for Q3 rose 7% yr/yr despite revenue decline

Adjusted EBITDA for Q3 decreased 24% yr/yr due to shipment deferrals

Outlook

McCoy expects smartProduct demand to grow in MENA region despite market headwinds

Company anticipates TRS contract awards in Eastern Hemisphere in Q1 2026

McCoy focuses on strategic investments to support long-term growth

Result Drivers

DEFERRED SHIPMENTS - Revenue impacted by deferral of C$3.4 mln in shipments due to logistics and payment delays

SMARTPRODUCT VARIABILITY - Timing of capital equipment orders affected smartProduct revenue

TAX AND INCENTIVE IMPACT - Lower taxes and reduced incentive accruals supported earnings

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
C$14.83 mln
Q3 Net Income
C$554,000
Q3 Adjusted EBITDA
C$2.03 mln
Q3 EBITDA
C$1.63 mln
Q3 Gross Profit
C$3.31 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "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 McCoy Global Inc is C$5.75, about 44.3% above its November 6 closing price of C$3.20

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

Press Release: ID:nCNWYVzg7a

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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.)