Tenaz Energy reported a sharp quarterly EPS miss, ending a run of three estimate beats in its last four reported quarters.
Tenaz Energy Corp. (TSX: TNZ) reported earnings after the market close on November 4 for the quarter ended September 30, 2026. EPS was -C$2.24, compared with the C$1.55 estimate—a negative surprise of 244.5%. That’s a sharp reversal from the company’s recent results, when it beat estimates in three of its last four reported quarters. The supplied data has no usable revenue estimate or actual revenue figure, so it doesn’t show what drove the miss or how revenue and margins performed.
Recent earnings trend
Tenaz Energy Corp.
TNZ.TO
TNZ.TO
Tenaz Energy Corp.
WealthAwesomeMarket cap
$1.63B
P/E
69.4x
52W high
$76.70
52W low
$22.60
1W change
-29.11%
Beta
1.02
Analyst Price Targets
Based on analyst covering TNZ · as of Nov 2, 2026
Wall Street analysts forecast TNZ stock price to rise 83.0% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$88.75
+83.0% Upside
Previously C$87.50 on Oct 29, 2026
Current Price
C$48.50
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 TNZ's historical volatility
30-Day Vol
81.6%
Annualized
90-Day Vol
61.5%
Annualized
Trend (90d)
-49.8%
Annualized drift
90d Mean
C$40.59
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$45.71 | C$34.49 – C$60.58 |
| 60 trading days | C$43.07 | C$28.92 – C$64.16 |
| 90 trading days | C$40.59 | C$24.92 – C$66.12 |
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 | 2027-03-10 | — | 0.6700 | — |
| 2026-09-30 | 2026-11-04 | -2.2400 | 1.5500 | -244.5% |
| 2026-06-30 | 2026-08-05 | 2.5757 | — | — |
| 2026-03-31 | 2026-05-13 | -3.4823 | — | — |
| 2025-12-31 | 2026-03-12 | 3.3200 | -0.0200 | +16700.0% |
| 2025-09-30 | 2025-11-05 | 0.7500 | 0.1000 | +650.0% |
Investor takeaway: The loss marks a clear break from Tenaz’s recent estimate performance, but the available figures don’t explain why it happened. The EPS miss alone isn’t enough to show that the company’s operating performance has changed for the long term. The supplied data has no quarterly revenue, margin, production, or cash-flow details. Tenaz’s focus on natural gas in the Dutch North Sea and its Canadian production provide business context, but don’t explain this quarter’s result.
EPS: -C$2.24 versus C$1.55 expected
The C$3.79-per-share gap amounts to a 244.5% negative surprise. Tenaz had beaten estimates in three of its previous four reported quarters, making this a notable reversal. The supplied data doesn’t say what caused it.
Bull case
Tenaz had beaten estimates in three of its last four reported quarters, and EPS in the comparable September quarter a year earlier was C$0.75. Its Netherlands-focused gas business could benefit from European gas prices, and the analyst targets in the supplied data are well above the latest share price. These points support the possibility of a recovery, but they don’t explain the current-quarter loss.
Bear case
EPS of -C$2.24, compared with the C$1.55 estimate, is a severe miss. The supplied snapshot also shows TNZ.TO trading below its 50-day and 200-day moving averages. Shares closed at C$48.50, down 29.1% over the past week and 29.0% over the past month. Without revenue or margin results, investors don’t have enough information to tell whether the miss came from a one-time item or weaker underlying performance.
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