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CES Energy Solutions Corp. (T:CEU)

Business Focus: Oil Related Services and Equipment

Sector:  Energy Industry:  Oil Related Services and Equipment
See Regulatory Filings on SEDAR
Company Contact
Address: 900-715 5 Ave SW
Tel: 1-403-2692800
IR: See website
Key People
Kyle D. Kitagawa
Independent Chairman of the Board
Thomas J. Simons
President, Chief Executive Officer, Non-Independent Director
Anthony Michael Aulicino
Chief Financial Officer
Richard Lee Baxter
President, US Drilling Fluids
Vernon James Disney
President, US Production Chemicals
Jason D. Waugh
President, Canadian Production Chemicals
Kenneth E. Zinger
Chief Operating Officer and President, Canadian Drilling Fluids
Kenneth D. Zandee
Vice President - Sales and Marketing
James Murray Pasieka
Corporate Secretary
Business Overview
CES Energy Solutions Corp, formerly Canadian Energy Services & Technology Corp, is a Canada-based provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. The Company offers total solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and through to the pipeline and midstream market. Its solutions include corrosion inhibitors, demulsifiers, hydrogen sulfide scavengers, paraffin control products, surfactants, scale inhibitors, biocides and other specialty products. It operates in the Western Canadian Sedimentary Basin and in several basins throughout the United States. In Canada, the Company operates under the trade names Canadian Energy Services, PureChem Services, Sialco Materials Ltd, Clear Environmental Solutions and EQUAL Transport. In the United States, the Company operates under the trade names AES Drilling Fluids, AES Frac Fluids, Superior Weighting Products and JACAM Chemicals.
Financial Overview
For the nine months ended 30 September 2019, CES Energy Solutions Corp revenues increased 4% to C$961.7M. Net income decreased 44% to C$18.2M. Revenues reflect United States segment increase of 13% to C$689M. Net income was offset by Interest on debt, net of interest income increase of 11% to C$20.6M (expense), Amortization of deferred financing costs increase of 6% to C$1M (expense). Dividend per share increased from C$0.03 to C$0.05.
Employees: 2,003 as of Dec 31, 2018
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $1,310M as of Sep 30, 2019
EBITDA (TTM): $151.92M as of Sep 30, 2019
Net annual income (TTM): $33.66M as of Sep 30, 2019
Free cash flow (TTM): $96.72M as of Sep 30, 2019
Net Debt Last Fiscal Year: $417.80M as of Sep 30, 2019
Shares outstanding: 263,956,291 as of Jan 22, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization