Spartan Delta reported earnings per share of CA$0.02 for the quarter ended September 30, beating analysts’ expectation of a CA$0.11 loss. The result follows a mixed run of earnings, and the consensus estimate for next quarter has edged lower.
Spartan Delta Corp (TSX: SDE) reported results after the market closed on November 3, 2026. Its EPS of CA$0.02 was 118.18% above the estimate, though that percentage reflects a comparison with an expected loss. The company has beaten estimates in three of its last four comparable quarters, but missed in March. The available results don’t include quarterly revenue or margin figures, so this article focuses on EPS, recent results and the available outlook. See the Spartan Delta stock page for company details.
Recent earnings trend
Spartan Delta Corp
SDE.TO
SDE.TO
Spartan Delta Corp
WealthAwesomeMarket cap
$2.30B
P/E
32.8x
52W high
$15.13
52W low
$6.71
1W change
-23.09%
Beta
0.65
Analyst Price Targets
Based on analyst covering SDE · as of Nov 9, 2026
Wall Street analysts forecast SDE stock price to rise 56.3% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$17.44
+56.3% Upside
Previously C$17.27 on Nov 5, 2026
Current Price
C$11.16
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 SDE's historical volatility
30-Day Vol
54.6%
Annualized
90-Day Vol
48.7%
Annualized
Trend (90d)
-37.8%
Annualized drift
90d Mean
C$9.75
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$10.67 | C$8.84 – C$12.88 |
| 60 trading days | C$10.20 | C$7.82 – C$13.31 |
| 90 trading days | C$9.75 | C$7.04 – C$13.51 |
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 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-02-22 | — | 0.3700 | — |
| 2026-09-30 | 2026-11-03 | 0.0200 | -0.1100 | +118.2% |
| 2026-06-30 | 2026-07-29 | 0.2000 | 0.1500 | +33.3% |
| 2026-03-31 | 2026-05-05 | -0.0700 | 0.0500 | -240.0% |
| 2025-12-31 | 2026-02-23 | 0.1800 | 0.0900 | +100.0% |
| 2025-09-30 | 2025-11-04 | 0.0300 | 0.0400 | -25.0% |
Investor takeaway: Spartan Delta delivered a clear EPS beat, but one quarter doesn’t establish a lasting trend. The company has beaten estimates in three of its last four reported quarters. For next quarter, one analyst expects EPS of CA$0.21, down from CA$0.25 30 days ago. Investors should consider that limited estimate alongside Spartan Delta’s exposure to Western Canadian oil and gas production and the lack of quarterly revenue data in this earnings snapshot.
CA$0.02 EPS versus a CA$0.11 expected loss
Spartan Delta’s reported EPS was 118.18% above the estimate. Since analysts expected a loss, the percentage can look especially large. The simpler comparison is that the company reported positive EPS when analysts expected a loss. Spartan Delta has beaten estimates in three of its last four comparable quarters, but the available results don’t include revenue or margins.
Bull case
Spartan Delta reported positive EPS against an expected loss and has beaten estimates in three of its last four comparable quarters. Company coverage describes it as a Western Canadian producer with exposure to the Duvernay and Deep Basin, and says recent guidance points to higher light-oil and condensate volumes. If production and earnings develop as expected, this quarter’s result could support a more positive view of the company’s performance.
Bear case
Spartan Delta’s results haven’t been consistently positive. It missed estimates for the quarter ended March 31, 2026, and the next-quarter EPS consensus has fallen from CA$0.25 to CA$0.21. That estimate comes from one analyst, and there’s no revenue consensus available. The supplied market data also shows the last close below both the 50-day and 200-day moving averages, with negative performance over the past week. These figures don’t explain the share-price moves, but they highlight uncertainty around the outlook.
Recent earnings results
Spartan Delta reported EPS of CA$0.02 for the quarter ended September 30, compared with the calendar estimate of a CA$0.11 loss. The reported surprise was 118.18%. Because the estimate was negative, the percentage can look especially large. The practical comparison is that Spartan Delta reported positive EPS when analysts expected a loss.
The available earnings data doesn’t include quarterly revenue or margins, so those measures can’t be assessed here. Spartan Delta beat estimates in three of its last four comparable quarters: December 2025, June 2026 and September 2026. It missed in March 2026. The earnings trend table and chart provide the quarter-by-quarter details.
Next-quarter outlook
For the fiscal period ending December 31, 2026, the calendar lists an EPS consensus of CA$0.21 from one analyst, compared with year-ago EPS of CA$0.03. The estimate has fallen from CA$0.25 over the past 30 days. During that period, one upward revision and no downward revisions were recorded. This particular consensus is based on one analyst, and no revenue consensus is available.
Company coverage describes Spartan Delta as a Calgary-based producer focused on the Duvernay and Deep Basin in Western Canada. It also notes that recent guidance points to higher light-oil and condensate volumes. This provides business context, but doesn’t confirm future results.
Analyst price target
The supplied analyst-target data gives an average target of C$17.44, compared with the last close of C$11.16. That implies 56.3% upside to the average target. The consensus label is bullish based on the average target relative to the last close. A formal rating isn’t available for Canadian listings. Price targets are estimates, not guarantees. See the analyst ratings section for details.
Statistical price forecast
Wealth Awesome’s statistical 90-day model gives a mean forecast of C$9.75. Its 68% range is C$7.04 to C$13.51, and its 95% range is C$5.08 to C$18.72. The model reports annualized drift of -37.8% and 30-day volatility of 54.6%.
These are model outputs, not financial advice or guaranteed price predictions. The forecast differs from the analyst-target average and represents a separate statistical scenario. See the price-prediction section for more.
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