Canada's CES Energy Solutions Q3 revenue beats estimates on large customer awards and acquisitions
CES Energy Solutions' Q3 revenue rose 26% year over year to C$784.8 million, beating the C$747.91 million estimate. Adjusted EBITDAC increased 35% to a record high, and the company returned C$47.5 million to shareholders.
1. Revenue and earnings growth
CES Energy Solutions reported Q3 revenue of C$784.8 million, up 26% year over year and above the C$747.91 million analyst estimate. Adjusted EBITDAC grew 35% to a record high, driven by product mix, service intensity and market share. Recent large customer awards and acquisitions contributed to revenue growth, especially in the United States.
2. Capital and shareholder returns
The company returned C$47.5 million to shareholders through dividends and share buybacks in Q3. It expects capital expenditures of about C$100 million in 2026, weighted toward expansion, and C$105 million to C$110 million in 2027. CES said industry fundamentals support cautious optimism about higher pricing and increased activity over the medium to long term.
