Ensign Energy Services (TSE:ESI) Releases Earnings Results

Ensign Energy Services (TSE:ESI – Get Free Report) posted its quarterly earnings results on Friday. The company reported C($0.07) EPS for the quarter, FiscalAI reports. The business had revenue of C$397.33 million during the quarter. Ensign Energy Services had a negative net margin of 3.31% and a negative return on equity of 4.13%.

Here are the key takeaways from Ensign Energy Services’ conference call:

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• Second-quarter revenue rose 7% year over year to CAD 397.3 million, while adjusted EBITDA increased 6% to CAD 85.8 million, supported by higher operating activity across Canada, the U.S., and international markets.
• Ensign expects the Citadel Drilling acquisition to close shortly, adding six fully utilized 2,000-horsepower rigs to its Permian fleet and increasing its regional market share to approximately 11%.
• Demand for high-specification rigs is strengthening, with Ensign planning to add rigs in the U.S. and Canada, raise Canadian day rates by roughly CAD 1,000 per day per quarter, and target 5%–10% rate increases on contract rollovers.
• The company reported CAD 30 million of debt repayment in the quarter and reduced interest expense 13%, but revised its 2026 debt-reduction target from CAD 125 million to a net CAD 60 million to accommodate the Citadel acquisition and additional capital spending.
• International operations face geopolitical disruption, including shutdowns of two Kuwait and two Bahrain rigs amid Middle East conflict, while producers remain cautious on capital spending and exposed to global economic and tariff uncertainty.

Ensign Energy Services Stock Down 8.3%

Ensign Energy Services stock traded down C$0.29 during mid-day trading on Friday, hitting C$3.21. The company’s stock had a trading volume of 613,932 shares, compared to its average volume of 295,489. The company has a market cap of C$591.77 million, a PE ratio of -11.07, a price-to-earnings-growth ratio of 202.94 and a beta of 1.09. The company has a debt-to-equity ratio of 75.31, a current ratio of 1.31 and a quick ratio of 1.30. The firm’s 50 day moving average is C$3.59 and its 200 day moving average is C$3.63. Ensign Energy Services has a 52-week low of C$2.00 and a 52-week high of C$4.97.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 14th. TD dropped their target price on Ensign Energy Services from C$3.75 to C$3.50 and set a “hold” rating on the stock in a research report on Monday, July 13th. Finally, ATB Cormark Capital Markets upgraded Ensign Energy Services from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$4.00 to C$5.00 in a research note on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$3.75.

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About Ensign Energy Services

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Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.

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