Key Points – Record second-quarter performance: Revenue rose 24.4% year over year to CAD 714.1 million, while adjusted EBITDA increased about 35% to CAD 119.2 million.
The 16.7% EBITDA margin exceeded the company’s target range, though management expects second-half margins to remain within the existing 15.5%–16.5% guidance. – Growth driven by market-share gains and strong activity: CES held a 29.7% share of active North American land rigs, with particularly strong positions in Canadian drilling fluids and the Permian Basin
Management sees sustained Canadian activity and continued U.S. growth through 2026 and into 2027, especially in land production chemicals. – Strong cash generation and shareholder returns: Funds flow from operations reached a record CAD 97 million, while the company plans roughly CAD 100 million in 2026 capital spending. CES repurchased more than 1.5 million shares around quarter-end, renewed authorization for up to 18.1 million additional repurchases, and ended the quarter with leverage of 1.15 times adjusted EBITDA. CES Energy Solutions (TSE:CEU) reported record second-quarter revenue and adjusted EBITDA, supported by market-share gains, higher service intensity and strong activity across its North American drilling fluids and production chemicals businesses.
President and CEO Ken Zinger said quarterly revenue reached an all-time high of CAD 714.1 million, up 24.4% from the prior-year period. Adjusted EBITDA rose about 35% year over year to a record CAD 119.2 million, while the company’s 16.7% EBITDA margin exceeded its stated target range of 15.5% to 16.5%. The company generated CAD 497 million of revenue in the U.S., its sixth consecutive quarterly record in that market, and CAD 217.1 million in Canada, its strongest second-quarter Canadian revenue result.