Ensign Energy's Q3 Revenue Climbs 17% to C$481.7 Million

Ensign Energy Services Inc. turned a year-earlier loss into a profit as third-quarter revenue rose 17%, with U.S. operations accounting for 55% of sales during the period.

Revenue for the three months ended Sept. 30 totaled C$481.711 million, compared with C$411.157 million in the third quarter of 2025. The results were released Nov. 6. All financial amounts are in Canadian dollars.

Net income attributable to common shareholders was C$10.838 million, or C$0.06 per common share, after a C$3.263 million loss, or a C$0.02 loss per share, a year earlier.

Adjusted EBITDA rose 17% to C$114.998 million from C$98.596 million. Adjusted EBITDA per share increased to C$0.62 from C$0.53. That C$0.62 figure is not income per share; Ensign’s income per common share was C$0.06. Adjusted EBITDA measures earnings before interest, taxes, depreciation and amortization with specified adjustments. The measures are not standardized under IFRS and are not a substitute for IFRS results.

U.S. operations generated C$262.537 million, up 21% from C$217.307 million. Canada contributed C$136 million, up 5%, while international revenue rose 30% to C$83.174 million.

Ensign acquired Citadel Drilling Ltd. on Aug. 13 for C$81.9 million. The deal brought Ensign a managed-pressure-drilling division and six high-specification rigs under contract in the U.S. Permian area. By Sept. 30, Citadel had added 276 operating days, C$20.6 million in revenue and C$3.2 million in pretax income.

Ensign describes itself as an international oilfield services contractor, and its shares trade on the Toronto Stock Exchange under the ticker ESI.