Gibson Energy reported quarterly earnings per share of C$0.4429, 30.3% above the C$0.34 estimate. It also posted record adjusted EBITDA and approved a pipeline expansion.
Gibson Energy Inc. (TSX: GEI.TO) reported results for the third quarter ended September 30, 2026. Earnings per share were C$0.4429, compared with the C$0.34 estimate. The company also reported record adjusted EBITDA for its consolidated business and Infrastructure segment, and announced plans to expand capacity on its Chauvin pipeline system by about 50%. Gibson shares closed at C$33.39 on November 2. Read more on the GEI stock page.
Recent earnings trend
Gibson Energy Inc.
GEI.TO
GEI.TO
Gibson Energy Inc.
WealthAwesomeMarket cap
$5.76B
P/E
32.7x
Div. yield
5.17%
Div. / share
$1.76
52W high
$34.20
52W low
$20.77
1W change
-1.07%
Beta
0.57
Analyst Price Targets
Based on analyst covering GEI · as of Oct 26, 2026
Wall Street analysts forecast GEI stock price to rise 0.1% over the next 12 months.
Consensus
NeutralBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$33.43
+0.1% Upside
Previously C$33.14 on Oct 19, 2026
Current Price
C$33.39
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 GEI's historical volatility
30-Day Vol
19.7%
Annualized
90-Day Vol
22.5%
Annualized
Trend (90d)
+32.5%
Annualized drift
90d Mean
C$37.50
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$34.71 | C$32.43 – C$37.15 |
| 60 trading days | C$36.08 | C$32.77 – C$39.71 |
| 90 trading days | C$37.50 | C$33.34 – C$42.18 |
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: 4 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-02 | 0.4429 | 0.3400 | +30.3% |
| 2026-06-30 | 2026-07-26 | 0.3700 | 0.3000 | +23.3% |
| 2026-03-31 | 2026-05-04 | 0.3100 | 0.2800 | +10.7% |
| 2025-12-31 | 2026-02-17 | 0.3000 | 0.3000 | +0.0% |
| 2025-09-30 | 2025-11-03 | 0.2800 | 0.2900 | -3.4% |
| 2025-06-30 | 2025-07-28 | 0.3700 | 0.2700 | +37.0% |
Investor takeaway: Gibson’s Infrastructure and Marketing businesses both delivered stronger results, and the company announced a growth project backed by customer interest. Investors should also consider the 82% dividend payout ratio and net debt of 3.9 times trailing adjusted EBITDA. Management expects both measures to improve once the Chauvin acquisition contributes for a full year. Gibson declared a quarterly dividend of C$0.45, payable January 15, 2027.
C$193 million in third-quarter adjusted EBITDA
Gibson reported record consolidated adjusted EBITDA of C$193 million, up C$46 million from the third quarter of 2025. Infrastructure contributed C$177 million and Marketing contributed C$35 million. The company said stronger performance in both segments drove the year-over-year increase. The figures also reflect adjustments for unrealized gains and losses on financial instruments.
Bull case
Infrastructure adjusted EBITDA reached a record C$177 million, supported by Chauvin, higher throughput and record volumes shipped to TMX through Edmonton. Marketing adjusted EBITDA rose to C$35 million, helped by elevated refining margins and a more diverse product mix. The Chauvin expansion is expected to increase system capacity by about 50%, with service targeted to begin in the first half of 2028.
Bear case
Some of Marketing’s strength came from elevated crack spreads, which may not last. Gibson also reported higher finance costs, income tax expense and general and administrative costs. The 82% dividend payout ratio and 3.9 times leverage ratio make execution and balance-sheet progress worth watching, even as management expects both measures to improve.
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