Western Energy Services reported earnings per share of C$0.08 for the quarter ended September 30, beating the C$0.03 estimate. That marks four straight quarterly earnings beats, though the company remains unprofitable on a trailing-twelve-month basis.
Western Energy Services Corp. (TSX: WRG) reported its third-quarter 2026 results after the market closed on October 26. Its C$0.08 EPS was 166.7% above the C$0.03 estimate. EPS was C$0.05 in March and C$0.07 in December. In June, the company reported a loss of C$0.12, smaller than expected.
Recent earnings trend
Western Energy Services Corp.
WRG.TO
WRG.TO
Western Energy Services Corp.
WealthAwesomeMarket cap
$140.49M
52W high
$4.15
52W low
$2.05
1W change
+5.60%
Beta
0.41
Analyst Price Targets
Based on analyst covering WRG · as of Oct 30, 2026
Wall Street analysts forecast WRG stock price to rise 11.4% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$4.63
+11.4% Upside
Previously C$4.50 on Oct 29, 2026
Current Price
C$4.15
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 WRG's historical volatility
30-Day Vol
48.0%
Annualized
90-Day Vol
43.6%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$4.96
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$4.40 | C$3.73 – C$5.20 |
| 60 trading days | C$4.67 | C$3.70 – C$5.91 |
| 90 trading days | C$4.96 | C$3.72 – C$6.61 |
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 4 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-26 | 0.0800 | 0.0300 | +166.7% |
| 2026-06-30 | 2026-07-28 | -0.1200 | -0.1400 | +14.3% |
| 2026-03-31 | 2026-04-28 | 0.0500 | 0.0400 | +25.0% |
| 2025-12-31 | 2026-02-25 | 0.0700 | 0.0200 | +250.0% |
| 2025-09-30 | 2025-10-21 | -0.0700 | -0.0500 | -40.0% |
| 2025-06-30 | 2025-07-22 | -0.1400 | -0.0900 | -55.6% |
Revenue rose 15% from a year earlier to C$57.5 million. Western also reported net income of C$2.7 million, compared with a C$2.2 million loss a year earlier. Adjusted EBITDA increased 2% to C$13.3 million. These results point to better quarterly profitability, but the broader picture is still challenging: trailing-twelve-month EPS is -C$0.60, and the profit margin is -12.80%.
Investor takeaway: WRG’s earnings beat was sizable, and the company has topped estimates in each of its last four reported quarters. Revenue growth and a return to quarterly net income add to the positive results. But one quarter does not erase its negative trailing EPS and profit margin. Investors in Canada should watch whether Western can sustain profitability, as well as its financing position and the activity levels that drive demand for energy services.
C$0.08 EPS versus C$0.03 expected
Western’s EPS was 166.7% above expectations for the quarter ended September 30, 2026. The company has beaten estimates in four straight reported quarters, but its trailing EPS remains negative.
Bull case
Western has beaten quarterly earnings estimates four times in a row, and Q3 revenue grew from a year earlier. The return to net income and higher adjusted EBITDA also point to improved operating results.
For next quarter, the calendar lists consensus EPS of C$0.02 and revenue of C$64 million. Both estimates come from just one analyst, so they offer a limited view. The EPS estimate has risen from -C$0.03 over the past 30 days.
Bear case
Western remains unprofitable over the trailing twelve months, with EPS of -C$0.60 and a profit margin of -12.80% in the supplied figures. Adjusted EBITDA grew just 2%, less than revenue, and next-quarter estimates are based on one analyst.
In April, Western extended the maturity of its second-lien facility to July 2028 and its revolving and operating facilities to March 2027. These extensions provide more time, but investors still need to watch debt and cash generation. One strong earnings surprise does not show that profitability will last.
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