Spartan Delta reported quarterly EPS of C$0.02, below the C$0.03 estimate. Its recent results have been uneven, with both beats and misses.
Spartan Delta Corp (TSX: SDE) reported earnings after the market close on November 3 for the quarter ended September 30, 2026. EPS came in at C$0.02, 33.3% below the C$0.03 estimate. The company beat estimates by 33.3% in the previous quarter, following a sharp miss in March.
Recent earnings trend
Spartan Delta Corp
SDE.TO
SDE.TO
Spartan Delta Corp
WealthAwesomeMarket cap
$2.42B
P/E
34.7x
52W high
$15.13
52W low
$6.71
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 50.4% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$17.27
+50.4% Upside
Previously C$17.17 on Oct 29, 2026
Current Price
C$11.48
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
54.3%
Annualized
90-Day Vol
48.5%
Annualized
Trend (90d)
-25.5%
Annualized drift
90d Mean
C$10.48
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$11.14 | C$9.23 – C$13.43 |
| 60 trading days | C$10.80 | C$8.29 – C$14.08 |
| 90 trading days | C$10.48 | C$7.58 – C$14.49 |
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 | 2027-02-22 | — | 0.4400 | — |
| 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% |
Spartan Delta is a Western Canadian oil and gas producer with operations in the Duvernay and Deep Basin. EPS is only one part of the picture. Production, commodity prices and the cost of developing reserves also affect the company’s outlook.
Investor takeaway: The EPS miss is a negative against the quarter’s estimate, but the available data doesn’t include revenue, margins or operating results that would explain it. Spartan Delta has beaten estimates in two of its last four reported quarters, with sizable swings in both directions. Consider the miss alongside updates on production and cash flow rather than treating one quarter’s EPS as a complete measure of the business.
C$0.02 EPS, versus C$0.03 expected
The 33.3% miss was followed by a downward revision to next-quarter consensus EPS, from C$0.25 to C$0.21 over 30 days. That estimate comes from one analyst, so it represents a limited view, not a broad consensus.
Bull case
Spartan Delta gives investors exposure to upstream oil and gas production in Western Canada. Company coverage points to a focus on higher light-oil and condensate volumes, which could support results if the company executes well and market conditions cooperate. One analyst expects next-quarter EPS of C$0.21, up from C$0.03 a year earlier. But that estimate has fallen from C$0.25 over the past 30 days and comes from just one analyst.
Bear case
The latest EPS miss adds to a volatile run. Spartan Delta beat estimates in June and December 2025, then missed in March and September 2026. The shares closed at C$11.48, below their 50-day and 200-day moving averages, after falling 17.47% in one week.
As an upstream producer, Spartan Delta faces changes in oil and gas prices, along with the costs and execution risks of developing its reserves. The available quarterly data doesn’t include revenue or margins, so it’s difficult to identify what drove the miss.
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