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CES Energy Solutions Corp. (T:CEU)

Business Focus: Oil Related Services and Equipment (NEC)

Sector:  Energy Industry:  Oil Related Services and Equipment
See Regulatory Filings on SEDAR
Company Contact
Address: 332 6th Avenue SW, Suite 1400
Tel: N/A
IR: See website
Key People
Kenneth E. Zinger
President, Chief Executive Officer, Director
Anthony Michael Aulicino
Chief Financial Officer
Richard Lee Baxter
President, US Drilling Fluids
Vernon James Disney
President, US Production Chemicals
Matthew Stephen Bell
Corporate Secretary
Business Overview
CES Energy Solutions Corp. is a Canada-based provider of consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. Its core businesses include drilling fluids and production and specialty chemicals. Its drilling fluids business operates throughout North America. Its production specialty chemicals business operates in the United States and in the Western Canadian Sedimentary Basin (WCSB), with an emphasis on servicing the oil and natural gas liquids resource plays. It provides environmental and drilling fluids waste disposal services to operators active in the WCSB through its Clear Environmental Solutions (Clear) division. It provides trucks and trailers specifically designed to transport drilling fluids to operators active in the WCSB through its Equal Transport (Equal) division.
Financial Overview
For the fiscal year ended 31 December 2022, CES Energy Solutions Corp revenues increased 61% to C$1.92B. Net income increased 91% to C$95.2M. Revenues reflect United States segment increase of 65% to C$1.28B, Canada segment increase of 53% to C$645.4M. Net income benefited from Financial derivative loss (gain) increase from C$181K (expense) to C$2.3M (income). Dividend per share increased from C$0.03 to C$0.07.
Employees: 2,123 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $1,922M as of Dec 31, 2022
EBITDA (TTM): $241.90M as of Dec 31, 2022
Net annual income (TTM): $95.22M as of Dec 31, 2022
Free cash flow (TTM): -$72.24M as of Dec 31, 2022
Net Debt Last Fiscal Year: $551.13M as of Dec 31, 2022
Shares outstanding: 254,632,741 as of Feb 23, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization