PHX Energy reported quarterly EPS of C$0.23, 28.1% below the C$0.32 estimate. At the same time, supplemental coverage reported record revenue and a third straight quarterly record for rotary steerable systems activity.
PHX Energy Services Corporation (TSX: PHX) released results after the market closed on November 3 for the quarter ended September 30, 2026. EPS was C$0.23, compared with the calendar estimate of C$0.32. PHX has beaten estimates in two of its last four reported quarters. Supplemental coverage also reported quarterly revenue of $204.2 million, up 24% from a year earlier, and record rotary steerable systems activity for a third consecutive quarter. The earnings miss and operating growth tell different parts of the story. Investors will be watching whether PHX can turn higher activity into stronger earnings while funding its investment plans.
Recent earnings trend
PHX Energy Services Corporation
PHX.TO
PHX.TO
PHX Energy Services Corporation
WealthAwesomeMarket cap
$469.97M
P/E
9.5x
Div. yield
1.84%
Div. / share
$0.20
52W high
$13.75
52W low
$6.26
1W change
-19.67%
Beta
1.50
Analyst Price Targets
Based on analyst covering PHX · as of Nov 6, 2026
Wall Street analysts forecast PHX stock price to rise 47.7% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$15.17
+47.7% Upside
Previously C$15.33 on Oct 28, 2026
Current Price
C$10.27
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 PHX's historical volatility
30-Day Vol
58.4%
Annualized
90-Day Vol
40.8%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$8.59
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$9.68 | C$7.91 – C$11.84 |
| 60 trading days | C$9.12 | C$6.86 – C$12.12 |
| 90 trading days | C$8.59 | C$6.06 – C$12.18 |
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: 1 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 |
|---|---|---|---|---|
| 2026-12-31 | 2027-02-23 | — | 0.3400 | — |
| 2026-09-30 | 2026-11-03 | 0.2300 | 0.3200 | -28.1% |
| 2026-06-30 | 2026-08-04 | 0.1900 | 0.1700 | +11.8% |
| 2026-03-31 | 2026-05-05 | 0.2000 | 0.2800 | -28.6% |
| 2025-12-31 | 2026-02-24 | 0.3550 | 0.1400 | +153.6% |
| 2025-09-30 | 2025-11-04 | 0.1500 | 0.2600 | -42.3% |
Investor takeaway: The EPS shortfall was significant, but the reported revenue and activity figures don’t point to a simple decline in demand. The main question is whether PHX can convert that activity into earnings while carrying out its expanded capital program. Shares closed at C$10.27, below their 50-day and 200-day moving averages. The supplied performance data also shows a 14.35% one-day decline. These figures provide market context, but don’t establish that the earnings release caused the share-price move. See the PHX Energy stock page for company information and the automatically inserted recent earnings trend.
C$0.23 EPS versus C$0.32 estimate
PHX’s EPS was C$0.09 below the calendar estimate, a 28.1% shortfall. The supplied earnings history shows two beats and two misses in the last four comparable quarters. Supplemental coverage reported revenue growth, but the available information doesn’t include enough detail on margins to explain the earnings gap.
Bull case
Supplemental coverage reported revenue of $204.2 million, up 24% year over year, and a third straight quarterly record for rotary steerable systems activity. PHX also increased its 2026 capital budget to $88 million and outlined a preliminary $75 million budget for 2027, signalling continued investment in the business. The reported quarterly dividend and renewed normal course issuer bid add context on capital returns, but don’t guarantee future dividends or share repurchases. The supplied analyst data shows an average target of C$15.17, 47.7% above the last close of C$10.27. Analyst targets are estimates, not promises.
Bear case
EPS came in 28.1% below the calendar estimate, and PHX missed estimates in two of its last four reported quarters. The higher 2026 capital budget could put more pressure on cash generation if activity or pricing weakens. Shares are also below their 50-day and 200-day moving averages, according to the supplied data. The stock’s statistical 90-day model has a mean forecast below the current price and a wide range. That reflects uncertainty, not a reliable prediction. And while the reported revenue and activity figures show growth, the available information doesn’t include quarterly margin details to explain why earnings fell short.
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