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Last update at 2024-12-19T17:44:00Z
Source Energy Services Reports Q3 2023 Results
Thu 09 Nov 23, 01:13 AMSource Energy Services Reports Q4 2022 and Year End Results
Wed 08 Mar 23, 11:20 PMSource Energy Services Reports Q3 2022 Results
Wed 09 Nov 22, 01:01 AM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | -8.77000M | -24.40300M | -154.11600M | -113.89600M | -1.69600M |
| Minority interest | - | 0.00000M | 2.79M | -2.56900M | -1.13600M |
| Net income | -2.92900M | -23.54400M | -185.46600M | -89.95500M | -2.21300M |
| Selling general administrative | 19.95M | 18.50M | 12.51M | 20.40M | 28.53M |
| Selling and marketing expenses | 6.77M | 5.13M | 6.96M | 8.15M | 7.20M |
| Gross profit | 58.15M | 39.33M | 24.66M | 37.61M | 69.02M |
| Reconciled depreciation | 31.38M | 30.98M | 46.05M | 58.26M | 32.28M |
| Ebit | 17.48M | 3.66M | -9.93800M | -11.14700M | 19.53M |
| Ebitda | 49.05M | 35.38M | 36.11M | 47.11M | 31.54M |
| Depreciation and amortization | 31.56M | 31.72M | 46.05M | 58.26M | 12.01M |
| Non operating income net other | - | - | - | - | - |
| Operating income | 17.48M | 3.66M | -9.93800M | -11.14700M | 21.28M |
| Other operating expenses | 399.38M | 316.84M | 260.93M | 344.72M | 393.75M |
| Interest expense | 32.27M | 29.67M | 29.18M | 27.75M | 20.57M |
| Tax provision | 0.00000M | 0.00000M | 31.35M | -23.94100M | 1.17M |
| Interest income | 23.36M | 29.32M | 28.57M | 25.73M | 18.87M |
| Net interest income | -33.14700M | -30.32000M | -29.68900M | -28.06000M | -20.96100M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | -5.84100M | -0.85900M | 31.35M | -23.94100M | 1.17M |
| Total revenue | 415.91M | 319.86M | 249.88M | 332.96M | 415.03M |
| Total operating expenses | 41.61M | 36.31M | 35.71M | 49.37M | 47.73M |
| Cost of revenue | 357.77M | 280.53M | 225.22M | 295.35M | 346.01M |
| Total other income expense net | -26.25100M | -28.06300M | -144.17800M | -102.74900M | -22.97600M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | -8.77000M | -24.40300M | -185.46600M | -89.95500M | -2.86500M |
| Net income applicable to common shares | -8.77000M | -24.40300M | -182.67500M | -88.52200M | -2.21300M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 482.83M | 326.90M | 266.03M | 266.26M | 496.67M |
| Intangible assets | - | - | - | - | - |
| Earning assets | - | - | - | - | - |
| Other current assets | 7.07M | 76.13M | 6.91M | 46.77M | 62.58M |
| Total liab | 313.70M | 321.24M | 259.50M | 233.57M | 297.36M |
| Total stockholder equity | 169.13M | 5.66M | 6.53M | 32.69M | 201.88M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | 1.27M | 69.60M | 30.36M | 34.23M | 3.21M |
| Common stock | 410.63M | 410.63M | 410.63M | 410.63M | 397.91M |
| Capital stock | 410.63M | 410.63M | 410.63M | 410.63M | 397.91M |
| Retained earnings | -254.45000M | -421.79500M | -413.02500M | -388.62200M | -205.94700M |
| Other liab | - | 6.55M | 7.59M | 8.96M | 10.77M |
| Good will | - | - | - | - | - |
| Other assets | - | 10.89M | 0.54M | 0.00000M | 30.57M |
| Cash | - | -68.42200M | -38.43600M | -42.32900M | -60.02500M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 108.37M | 87.45M | 50.31M | 46.04M | 67.43M |
| Current deferred revenue | 2.73M | 0.15M | 0.09M | 0.78M | 2.04M |
| Net debt | 221.78M | 313.36M | 259.90M | 231.94M | 298.89M |
| Short term debt | 33.83M | 17.70M | 19.86M | 11.04M | 19.71M |
| Short long term debt | 17.56M | - | 7.50M | - | - |
| Short long term debt total | 221.78M | 244.94M | 221.47M | 189.61M | 238.87M |
| Other stockholder equity | 2.46M | 2.46M | 2.46M | 2.46M | 7.91M |
| Property plant equipment | - | 193.46M | 158.75M | 174.71M | 353.07M |
| Total current assets | 136.18M | 122.55M | 106.75M | 91.55M | 113.02M |
| Long term investments | - | - | - | - | - |
| Net tangible assets | - | 5.66M | 6.53M | 32.69M | 201.88M |
| Short term investments | - | - | - | - | - |
| Net receivables | 44.01M | 42.30M | 43.50M | 33.64M | 49.54M |
| Long term debt | 141.53M | 176.52M | 175.53M | 147.28M | 178.84M |
| Inventory | 85.10M | 72.53M | 56.34M | 53.47M | 60.93M |
| Accounts payable | 70.54M | 68.42M | 29.34M | 33.22M | 44.08M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | 10.49M | 14.36M | 6.46M | 8.22M | 2.00M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | 410.63M | 397.91M |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 30.82M | 10.89M | 0.54M | - | 383.64M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 346.65M | 204.35M | 159.29M | 174.71M | 383.64M |
| Capital lease obligations | 62.69M | 68.42M | 38.44M | 42.33M | 60.02M |
| Long term debt total | - | - | 201.61M | 178.57M | 219.16M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -13.89800M | -6.00000M | -4.95600M | -19.63600M | -69.31800M |
| Change to liabilities | 38.31M | -5.05600M | -11.29100M | 8.74M | -2.17600M |
| Total cashflows from investing activities | -13.89800M | -6.00000M | -4.95600M | -19.63600M | -69.31800M |
| Net borrowings | -26.67400M | -0.11400M | -18.20800M | 6.08M | 14.94M |
| Total cash from financing activities | -66.27500M | -8.01100M | -34.41500M | -20.71900M | -1.94600M |
| Change to operating activities | -2.89700M | -1.32000M | -1.91400M | 2.86M | -3.03400M |
| Net income | -8.77000M | -24.40300M | -185.46600M | -89.95500M | -2.21300M |
| Change in cash | 0.00000M | 0.00000M | 0.00000M | -4.57400M | 4.57M |
| Begin period cash flow | 0.00000M | 0.00000M | 0.00000M | 4.57M | 0.00000M |
| End period cash flow | 0.00000M | 0.00000M | 0.00000M | 0.00000M | 4.57M |
| Total cash from operating activities | 80.17M | 14.01M | 39.37M | 35.78M | 75.84M |
| Issuance of capital stock | - | - | - | - | 0.00000M |
| Depreciation | 31.38M | 30.98M | 46.05M | 132.26M | 12.01M |
| Other cashflows from investing activities | 0.90M | 0.44M | -1.42800M | 0.02M | -3.71300M |
| Dividends paid | 0.00000M | 0.00000M | 0.00000M | 1.60M | 1.30M |
| Change to inventory | -13.47400M | -6.23800M | 3.14M | 7.61M | -10.37100M |
| Change to account receivables | 1.62M | -9.07600M | 15.68M | -24.87800M | 31.91M |
| Sale purchase of stock | - | - | 0.00000M | -1.60000M | -1.30100M |
| Other cashflows from financing activities | -28.59900M | 5.21M | 47.76M | 42.80M | 34.79M |
| Change to netincome | 33.76M | 28.99M | 170.27M | 71.53M | 29.08M |
| Capital expenditures | 15.17M | 6.52M | 3.68M | 19.67M | 67.98M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | 23.56M | -21.69000M | 5.62M | -5.67100M | 16.32M |
| Stock based compensation | 0.95M | 0.64M | -0.01400M | 0.20M | 2.40M |
| Other non cash items | 33.05M | 28.49M | 141.83M | 155.15M | 46.15M |
| Free cash flow | 65.01M | 7.49M | 35.69M | 16.11M | 7.86M |
Sector: Energy Industry: Oil & Gas Equipment & Services
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| SHLE Source Energy Services Ltd |
0.33 2.17% | 15.55 | 1.21 | 4.62 | 0.29 | 1.05 | 0.63 | 1.76 |
| TVK Terravest Capital Inc |
3.26 2.86% | 117.29 | 32.79 | 27.10 | 2.58 | 6.17 | 2.87 | 13.46 |
| CEU CES Energy Solutions Corp |
0.10 1.12% | 9.45 | 11.07 | 10.94 | 0.90 | 2.79 | 1.09 | 7.24 |
| EFX Enerflex Ltd. |
0.09 0.66% | 13.73 | - | 12.29 | 0.53 | 0.88 | 0.71 | 6.75 |
| PSI Pason Systems Inc. |
-0.28 2.09% | 13.11 | 10.58 | 12.22 | 2.99 | 2.49 | 2.85 | 7.70 |
Source Energy Services Ltd. engages in the production and distribution of Northern White frac sand used primarily in oil and gas exploration and production in Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops Sahara, a wellsite mobile sand storage and handling system. The company was founded in 1998 and is headquartered in Calgary, Canada.
500, 1060 - 7th Street SW, Calgary, AB, Canada, T2R 0C4
| Name | Title | Year Born |
|---|---|---|
| Mr. Scott Melbourn | Pres & CEO | NA |
| Mr. Derren J. Newell CA | VP & Chief Financial Officer | 1969 |
| Mr. Kurtis Kisio | VP of Sales & Marketing | 1985 |
| Mr. Kelly Roncin | Pres of Production | NA |
| Mr. Shawn Furlong | VP of HSE & Sustainability | NA |
| Mr. Jarett Finney | Pres of Distribution | NA |
| Mr. Scott Melbourn | President, CEO & Director | 1974 |
| Mr. Derren J. Newell CA | Executive VP & CFO | 1969 |
| Mr. Kurtis Kisio | Vice President of Sales & Marketing | 1985 |
| Mr. Shawn Furlong | President of Production | NA |
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