CES Energy Solutions Corp faced a significant earnings miss in its latest report, raising concerns about its future growth despite increasing revenue.
CES Energy Solutions Corp (CEU.TO) reported its second-quarter earnings on August 6, 2026, revealing an earnings per share (EPS) of CAD 0.18, which fell short of the market estimate of CAD 0.22 by 18.2%. This marks the third earnings miss in the last four quarters, even though the company achieved record revenue during the same period.
Recent earnings trend
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CES Energy Solutions Corp
CEU.TO
CEU.TO
CES Energy Solutions Corp
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Market cap
$3.87B
P/E
18.9x
52W high
$19.46
52W low
$7.34
1W change
+14.93%
Beta
0.97
Analyst Price Targets
Based on analyst covering CEU
Wall Street analysts forecast CEU stock price to rise 14.5% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$21.50
+14.5% Upside
Current Price
C$18.78
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
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Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on CEU's historical volatility
30-Day Vol
43.3%
Annualized
90-Day Vol
37.5%
Annualized
Trend (90d)
+24.9%
Annualized drift
90d Mean
C$20.52
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$19.34 | C$16.66 – C$22.46 |
| 60 trading days | C$19.93 | C$16.13 – C$24.61 |
| 90 trading days | C$20.52 | C$15.85 – C$26.58 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 3 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 2 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-12 | — | 0.3200 | — |
| 2026-06-30 | 2026-08-06 | 0.1800 | 0.2200 | -18.2% |
| 2026-03-31 | 2026-05-08 | 0.2400 | 0.2375 | +1.1% |
| 2025-12-31 | 2026-03-10 | 0.3200 | 0.2300 | +39.1% |
| 2025-09-30 | 2025-11-13 | 0.1800 | 0.2100 | -14.3% |
| 2025-06-30 | 2025-08-07 | 0.2300 | 0.1800 | +27.8% |
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Investor takeaway: While CES Energy Solutions showcased strong revenue growth driven by market share gains and robust activity, the earnings miss highlights potential challenges ahead. Investors should closely monitor the company's margin guidance and market dynamics as they navigate the latter half of 2026.
EPS Misses by 18.2% Despite Record Revenue Growth
The recent EPS of CAD 0.18 contrasts sharply with the consensus estimate of CAD 0.22, indicating a troubling trend in profitability even as revenue continues to climb.
Bull case
The company reported record revenue of CAD 714.1 million, a 24.4% increase year-over-year, and a solid adjusted EBITDA rise of 35%. With strong market share in North America and ongoing growth in the U.S. drilling fluids and production chemicals sectors, there’s a favorable outlook for the company's operations.
Bear case
Despite strong revenue growth, CES's EPS miss raises concerns about its ability to effectively turn revenue into profits. The company's guidance for future margins remains conservative, and external factors like supply chain disruptions could impact profitability moving forward.
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