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Total Energy Services (TOT) investor relations material
Total Energy Services Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Q3 2025 revenue increased 8% year-over-year to $260.7 million, driven by strong Australian results and North American demand for compression/process equipment, offset by lower North American drilling and completion activity.
Diversified business model and strong free cash flow enabled investment in growth, dividends, share buybacks, and debt reduction.
Record fabrication sales backlog of CAD 380.8 million at quarter-end provides visibility into late 2026.
Net income for Q3 2025 was $14.6 million, down 26% year-over-year; nine-month net income was stable at $50.6 million.
Financial highlights
Consolidated Q3 revenue up 8% year-over-year; gross margin at 22%, down 409 bps from 2024.
Q3 2025 EBITDA was $42.9 million, down 15% year-over-year; nine-month EBITDA rose 6% to $138.8 million.
Net working capital at CAD 115.5 million, including CAD 57.1 million cash; net bank debt at CAD 32.9 million.
Senior bank debt to EBITDA ratio at 0.25x; interest coverage ratio at 36.47x.
Diluted EPS for Q3 2025 was $0.38, down from $0.50 in Q3 2024; nine-month diluted EPS was $1.33, up 6%.
Outlook and guidance
Australian rig count to reach record 13 active rigs; further upgrades and reactivations planned.
U.S. fabrication capacity expansion underway, with completion expected Q1 2027.
CPS segment margins expected to improve as low-margin legacy orders are completed by year-end.
Strong compression equipment demand and backlog expected to support revenue into H2 2026.
Management remains open to both small and large M&A opportunities, focusing on disciplined growth.
Quantify Q3 margin impacts from FX and tariffs
Assess impact of recent rig upgrades on utilization
CPS margin outlook given backlog and expansion
What drives CPS margin recovery post-2024 orders?
How to balance Australian growth with labor constraints
M&A pipeline: Are target valuations aligning?
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Next Total Energy Services earnings date
Q4 202511 Mar, 2026
Total Energy Services
Next Total Energy Services earnings date
Q4 202511 Mar, 2026
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Frequently asked questions
Total Energy Services Inc. is a Canadian company that provides a range of products and services to the energy sector. Its operations are divided into four main segments: Contract Drilling Services, Rentals and Transportation Services, Compression and Process Services, and Well Servicing. These divisions support the oil and natural gas industry by offering equipment, transportation, and expertise for drilling, well servicing, and natural gas compression. Total Energy Services serves clients involved in the exploration, development, and production of oil and natural gas resources. The company is headquartered in Calgary, Canada, and its shares are listed on the TSX.
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