Secure Energy Services Q4 Earnings Call Highlights

3 weeks ago 23

MarketBeat

Tue, February 24, 2026 astatine 4:36 AM CST 8 min read

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Resilient 2025 results: On a pro forma ground adjusted EBITDA roseate 5% to CAD 501 million, with Q4 gross of CAD 372 million (+10% y/y) and Q4 adjusted EBITDA of CAD 135 million (+15% y/y), alongside beardown funds travel and discretionary escaped currency flow.
Capital returns and balance-sheet strength: SECURE returned CAD 373 million to shareholders successful 2025 (nearly 19 million shares repurchased, ~8% of float), raised its dividend 5% to CAD 0.42, and finished the twelvemonth with full debt/adjusted EBITDA of 2.1x (1.8x ex‑leases) aft issuing CAD 300 million of 2032 elder notes.
Growth projects and 2026 outlook: The institution invested CAD 138 million successful integrated maturation successful 2025, commissioned 2 afloat contracted Montney produced‑water disposal facilities, plans ~CAD 75 million of 2026 maturation capex, and guided adjusted EBITDA of CAD 520–550 million portion noting metal‑recycling headwinds (≈10–15% EBITDA impact) expected to normalize by mid‑2026.
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Secure Energy Services (TSE:SES) executives said the institution delivered higher fourth-quarter profitability and humble full-year maturation successful 2025 contempt weaker commodity prices and reduced exploration-related activity, portion returning important superior to shareholders and advancing contracted infrastructure projects.

President and CEO Allen Gransch said 2025 “clearly demonstrated the resilience” of the company’s discarded absorption and vigor infrastructure platform. On a pro forma basis, helium said full-year adjusted EBITDA roseate 5% year-over-year to CAD 501 million, supported by infrastructure-backed earnings, pricing discipline, optimization crossed the network, and contributions from assets placed successful work during the year.

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For the 4th quarter, absorption reported:

Revenue: CAD 372 million, up 10% year-over-year
Adjusted EBITDA: CAD 135 million, up 15% year-over-year (up 24% per share, according to the CEO)
Funds travel from operations: CAD 118 million
Discretionary escaped currency flow: CAD 84 million

For the afloat year, CFO Chad Magus reported funds travel from operations of CAD 378 million and discretionary escaped currency travel of CAD 273 million. Magus said discretionary escaped currency travel declined modestly year-over-year chiefly owed to higher involvement disbursal and currency taxes, portion conversion remained “industry-leading” astatine implicit 50%.

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