PHX Energy reported quarterly earnings per share (EPS) of C$0.23, 28.1% below the C$0.32 estimate. At the same time, supplemental coverage described record revenue and strong rotary steerable activity.
PHX Energy Services Corporation (TSX: PHX) released results after the market close on November 3 for the quarter ended September 30, 2026. EPS missed the consensus estimate by C$0.09. PHX has beaten estimates in two of its last four reported quarters. Supplemental coverage also reported record quarterly revenue of C$204.2 million, up 24% from a year earlier, and a third straight quarter of record rotary steerable system activity. These figures add context to the earnings miss, but don’t change it. For Canadian investors, the key question is whether stronger activity and higher spending can lead to better per-share earnings.
Recent earnings trend
PHX Energy Services Corporation
PHX.TO
PHX.TO
PHX Energy Services Corporation
WealthAwesomeMarket cap
$487.81M
P/E
10.5x
Div. yield
1.91%
Div. / share
$0.20
52W high
$13.75
52W low
$6.26
1W change
-16.00%
Beta
1.50
Analyst Price Targets
Based on analyst covering PHX · as of Nov 10, 2026
Wall Street analysts forecast PHX stock price to rise 35.2% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$14.42
+35.2% Upside
Previously C$15.17 on Nov 6, 2026
Current Price
C$10.66
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
59.2%
Annualized
90-Day Vol
40.1%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$8.92
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$10.04 | C$8.19 – C$12.32 |
| 60 trading days | C$9.46 | C$7.09 – C$12.63 |
| 90 trading days | C$8.92 | C$6.26 – C$12.70 |
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 | — | 0.3500 | — |
| 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 quarter sent mixed signals. EPS came in well below expectations, while revenue and rotary steerable activity were reported at record levels. PHX raised its 2026 capital budget to C$88 million and outlined a preliminary C$75 million budget for 2027. Investors will be watching how well the company turns that spending into results. The shares closed at C$10.66 on November 9, below their 50-day and 200-day moving averages. Analyst targets and statistical forecasts are reference points, not guarantees or investment advice.
C$0.23 EPS, 28.1% below estimate
PHX reported EPS of C$0.23, C$0.09 below the C$0.32 consensus estimate. That contrasts with supplemental coverage reporting quarterly revenue of C$204.2 million, up 24% year over year. Revenue growth and earnings per share measure different things. Investors will need the detailed results and margin information to understand the gap.
Bull case
Supplemental coverage described record revenue and a third straight quarter of record rotary steerable system activity, suggesting demand for PHX’s drilling services remained strong. About 60% of the company’s higher 2026 capital budget is earmarked for growth, which could expand its capacity. PHX also reported a 1.91% dividend yield. Over the last four quarters, it beat earnings estimates twice.
Bear case
PHX’s EPS of C$0.23 missed the C$0.32 estimate, and the company has missed estimates in two of its last four comparable quarters. The larger capital budget makes it important for PHX to turn higher activity and investment into earnings and cash flow. At C$10.66, the shares were below their 50-day average of C$12.51 and 200-day average of C$11.54. The supplied statistical model also forecasts a lower average share price over the next 90 days, with a wide range of possible outcomes.
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