Geodrill returned to quarterly profitability as revenue rose 41% from a year earlier. Still, it beat earnings estimates in only one of its last four reported quarters.
Geodrill Limited (TSX: GEO) reported third-quarter 2026 results before markets opened on November 9. Earnings per share came in at US$0.02, compared with an estimate of a US$0.01 loss. That’s a 300% positive surprise against the supplied estimate. The West Africa-based drilling contractor also reported record quarterly revenue of US$55.1 million, up 41% year over year, and net income of US$0.9 million.
Recent earnings trend
Geodrill Limited
GEO.TO
GEO.TO
Geodrill Limited
WealthAwesomeMarket cap
$135.89M
52W high
$4.29
52W low
$2.30
1W change
+7.59%
Beta
0.58
Analyst Price Targets
Based on analyst covering GEO · as of Nov 9, 2026
Wall Street analysts forecast GEO stock price to rise 10.5% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$3.45
+10.5% Upside
Previously C$3.41 on Nov 6, 2026
Current Price
C$3.12
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 GEO's historical volatility
30-Day Vol
51.7%
Annualized
90-Day Vol
43.5%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$3.73
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$3.31 | C$2.77 – C$3.96 |
| 60 trading days | C$3.51 | C$2.73 – C$4.52 |
| 90 trading days | C$3.73 | C$2.74 – C$5.08 |
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 |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-09 | 0.0200 | -0.0100 | +300.0% |
| 2026-06-30 | 2026-08-10 | -0.0005 | 0.0500 | -101.0% |
| 2026-03-31 | 2026-05-11 | -0.0032 | 0.0400 | -108.0% |
| 2025-12-31 | 2026-03-02 | -0.2300 | 0.0100 | -2400.0% |
| 2025-09-30 | 2025-11-13 | -0.0300 | 0.0200 | -250.0% |
| 2025-06-30 | 2025-08-11 | 0.1100 | 0.0400 | +175.0% |
For Canadian investors, the headline beat needs context. Geodrill missed estimates in three of its last four comparable quarters, and its earnings per share over the past 12 months remain negative.
Investor takeaway: Revenue, gross margin and net income improved, supported by high fleet utilization and demand for drilling services in West Africa and Egypt. But the return to profitability is still recent. Geodrill reported a 6.71% loss margin over the past 12 months, while EBITDA and net income for the first nine months of the year were below the same period in 2025. Investors will want to see whether new contracts and better commercial terms lead to steady earnings and cash generation.
US$55.1 million
Third-quarter revenue reached a company record, up 41% from US$39.0 million a year earlier. Gross margin rose to 18% from 6%, and Geodrill returned to quarterly net income, reporting US$0.9 million. Earnings per share were US$0.02, matching the company’s release and beating the calendar estimate of a US$0.01 loss.
Bull case
Geodrill posted more than US$55 million in revenue for a second straight quarter. Third-quarter revenue rose 41% year over year, and gross margin increased to 18% from 6%. The company pointed to strong fleet utilization, new contracts and extensions worth US$45 million, and demand across its key markets. It ended the quarter with US$16.9 million in cash and a fleet of 106 drills.
Bear case
The earnings beat follows a mixed record: Geodrill missed estimates in three of its last four reported quarters. For the first nine months of the year, gross profit, EBITDA and net income were all below the comparable 2025 figures. The company also reported operational challenges in Chile and is assessing ways to improve those operations. With earnings per share still negative over the past 12 months, investors need to see whether the recent quarterly progress can continue.
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