Ensign Energy Services returned to quarterly profit as revenue and adjusted EBITDA each rose 17% year over year. Reported EPS was C$0.05, above the C$0.01 estimate.
Ensign Energy Services Inc. (TSX: ESI) released its third-quarter 2026 results before markets opened on November 6. EPS came in at C$0.05, compared with the C$0.01 estimate. Revenue reached C$481.7 million, up 17% from a year earlier, and adjusted EBITDA also rose 17%, to C$115.0 million. Ensign returned to net income, though its trailing 12-month EPS and profit margin remain negative.
Recent earnings trend
Ensign Energy Services Inc
ESI.TO
ESI.TO
Ensign Energy Services Inc
WealthAwesomeMarket cap
$724.41M
52W high
$4.97
52W low
$2.30
1W change
-0.72%
Beta
1.94
Analyst Price Targets
Based on analyst covering ESI · as of Nov 6, 2026
Wall Street analysts forecast ESI stock price to rise 7.4% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$4.46
+7.4% Upside
Previously C$4.42 on Oct 29, 2026
Current Price
C$4.15
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on ESI's historical volatility
30-Day Vol
58.6%
Annualized
90-Day Vol
51.0%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$4.96
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$4.40 | C$3.60 – C$5.39 |
| 60 trading days | C$4.67 | C$3.51 – C$6.22 |
| 90 trading days | C$4.96 | C$3.50 – C$7.04 |
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: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 1 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-03-05 | — | 0.0200 | — |
| 2026-09-30 | 2026-11-06 | 0.0500 | 0.0100 | +400.0% |
| 2026-06-30 | 2026-08-07 | -0.1000 | -0.0400 | -150.0% |
| 2026-03-31 | 2026-05-07 | -0.0600 | -0.0100 | -500.0% |
| 2025-12-31 | 2026-03-06 | -0.0600 | -0.0100 | -500.0% |
| 2025-09-30 | 2025-11-07 | -0.0100 | -0.0300 | +66.7% |
Investor takeaway: Ensign reported stronger activity and profitability. Drilling operating days rose 13% year over year, funds flow from operations increased 39% to C$122.5 million, and net income attributable to common shareholders was C$10.8 million. Still, the EPS beat came against a low C$0.01 estimate, and the company missed estimates in each of its previous three reported quarters. Net debt also rose to C$971.0 million following the Citadel Drilling acquisition. Investors can visit the ESI.TO stock page, see analyst ratings, and review the statistical price forecast.
C$481.7 million
Third-quarter revenue rose 17%, from C$411.2 million a year earlier. The United States accounted for C$262.5 million, or 55% of revenue. Canada contributed C$136.0 million, and international operations brought in C$83.2 million.
Bull case
Revenue and adjusted EBITDA each grew 17% year over year, while funds flow from operations rose 39%. Drilling days increased in Canada, the United States, and international markets. The Citadel Drilling acquisition added six fully contracted, high-spec rigs in the Permian, along with a managed-pressure-drilling business. Management also aims to reduce net debt by about C$50 million during the rest of 2026.
Bear case
The 400% EPS surprise came against a low C$0.01 estimate, so the percentage doesn’t reflect a large earnings figure. Ensign missed estimates in each of its previous three reported quarters. Its trailing 12-month EPS was -C$0.21, and its profit margin was -2.44%. Net debt reached C$971.0 million, up 5% year over year. United States well-servicing hours fell 7%, and total well-servicing hours declined 4%.
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