Spartan Delta reported third-quarter EPS of C$0.02, below the C$0.03 estimate. The company also outlined its 2027 capital program and raised its long-term Duvernay production target.
Spartan Delta Corp (TSX: SDE) reported results after market close on November 3 for the quarter ended September 30, 2026. EPS was C$0.02, 33.3% below the C$0.03 estimate. The company has beaten estimates in two of its last four reported quarters. Its release also outlined a C$700 million to C$750 million capital program for 2027 and raised its Duvernay plateau production target to 75,000 boe/d by year-end 2030.
Recent earnings trend
Spartan Delta Corp
SDE.TO
SDE.TO
Spartan Delta Corp
WealthAwesomeMarket cap
$2.68B
P/E
37.3x
52W high
$15.13
52W low
$6.48
1W change
-17.47%
Beta
0.65
Analyst Price Targets
Based on analyst covering SDE · as of Nov 5, 2026
Wall Street analysts forecast SDE stock price to rise 46.2% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$17.27
+46.2% Upside
Previously C$17.17 on Oct 29, 2026
Current Price
C$11.81
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
54.5%
Annualized
90-Day Vol
48.3%
Annualized
Trend (90d)
-7.8%
Annualized drift
90d Mean
C$11.49
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$11.70 | C$9.70 – C$14.12 |
| 60 trading days | C$11.59 | C$8.89 – C$15.13 |
| 90 trading days | C$11.49 | C$8.29 – C$15.91 |
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 |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-03 | 0.0200 | 0.0300 | -33.3% |
| 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% |
| 2025-06-30 | 2025-08-06 | 0.1700 | 0.0900 | +88.9% |
Investor takeaway: The EPS miss is one data point, not a complete picture of Spartan Delta’s operating performance. The supplied results don’t include quarterly revenue, production, or margin figures, so EPS alone can’t explain those measures. The 2027 spending range and higher Duvernay target give investors specific plans to track in future updates. Recent share-price weakness and a wide statistical forecast range also point to uncertainty. Canadian investors can visit the SDE.TO stock page for earnings history and other available data.
C$0.02 EPS versus C$0.03 expected
EPS came in 33.3% below expectations. The next-quarter consensus is C$0.21, based on one analyst, down from C$0.25 30 days earlier. With only one estimate, the consensus offers a limited view of expectations.
Bull case
Spartan Delta paired its earnings release with a higher long-term Duvernay production target and a defined 2027 capital-spending range. Delivering on these plans would give investors a clearer way to assess the company’s growth ambitions. The average analyst target is C$17.27, 46.2% above the last close of C$11.81. Analyst targets are estimates, not promises.
Bear case
EPS missed expectations, and Spartan Delta has recorded two misses and two beats in its last four reported quarters. At the supplied closing price, the shares were below their 50-day and 200-day moving averages. They also fell over the one-day, one-week, and one-month periods. The available information doesn’t include quarterly revenue or operating details that would explain the EPS result. Meanwhile, the next-quarter EPS consensus fell from C$0.25 to C$0.21.
Analysis
Spartan Delta reported EPS of C$0.02 for the quarter ended September 30, below the C$0.03 estimate. The company released its results after market close on November 3. The supplied earnings data doesn’t include quarterly revenue, production, or margin figures, so it doesn’t provide a full comparison of operating performance.
The release also outlined a C$700 million to C$750 million capital program for 2027 and raised the Duvernay plateau production target to 75,000 boe/d by year-end 2030. These are company plans, not achieved results. Future updates will show how spending and production progress.
Spartan Delta’s recent EPS record is mixed: it beat estimates in two of its last four reported quarters. Before this report, the company posted C$0.20 against C$0.15 expected for the June quarter, missed in March with negative C$0.07 against C$0.05 expected, and beat in December with C$0.18 against C$0.09 expected. The earnings trend table shows the quarter-by-quarter history.
Analysis
The average analyst target is C$17.27, compared with the supplied last close of C$11.81. That implies 46.2% upside to the average target. The data labels the consensus bullish based on the target comparison, but a formal rating isn’t available for this Canadian listing. Analyst targets are estimates and can change. See the analyst ratings section for SDE.TO.
Analysis
Wealth Awesome’s statistical 90-day model gives a mean forecast of C$11.49. Its 68% range is C$8.29 to C$15.91, and its 95% range is C$5.99 to C$22.03. The model reports annualized drift of -7.8% and 30-day volatility of 54.5%. This statistical forecast isn’t financial advice or a guaranteed price outcome. See the SDE.TO price forecast for details.
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