Q1 2025 CES Energy Solutions Corp Earnings Call Transcript
Key Points
- CES Energy Solutions Corp (CESDF) achieved all-time record quarterly revenue of $632.4 million, a 7% increase compared to the same quarter last year.
- The company reported a strong quarterly EBITDA of $99.9 million with EBITDA margins of 15.8%.
- CES Energy Solutions Corp (CESDF) maintained a low total debt to trailing 12-month EBITDA ratio of 1.17 times, at the lower end of their targeted range.
- The company successfully repurchased 13.3 million shares, approximately 70% of the amount allowed under their current NCIB program.
- CES Energy Solutions Corp (CESDF) demonstrated strong market share in North America, with a 26.5% share of the North American land market and record market share in the Permian Basin.
- Margins in Q1 were adversely affected by several headwinds, including an influx of rigs starting simultaneously and Canadian dollar devaluation versus the US dollar.
- Tariff uncertainty has caused restructuring of the supply chain, impacting costs and operations.
- The company anticipates a potential pullback in completion activity in Canada during the second half of 2025.
- There is ongoing pressure from customers to improve costing, particularly in the US market.
- The company faced challenges in passing on increased costs due to exchange rate fluctuations, impacting margins.
Welcome to the CES Energy Solutions first quarter 2025 results conference call and webcast. As a reminder, all participants are in listen-only mode and the conference is being recorded. (Operator Instructions)
I would now like to turn the conference over to Tony Aulicino, Chief Financial Officer. Please go ahead.
Thank you, operator. Good morning, everyone, and thank you for attending todayâs call. Iâd like to note that in our commentary today, there will be forward-looking financial information and that our actual results may differ materially from the expected results due to various risk factors and assumptions. These risk factors and assumptions are summarized in our first quarter MD&A and press release dated May 8, 2025, and in our annual information form dated March 6, 2025. In addition, certain financial measures that we will refer to today are not recognized under current General Accepted Accounting Policies and for a description and definition of these, please see our
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