Latest news with #TotalEnergy
Toronto Star
6 days ago
- Business
- Toronto Star
Total Energy Services Inc. Announces Q2 2025 Results
CALGARY, Alberta, Aug. 05, 2025 (GLOBE NEWSWIRE) — Total Energy Services Inc. ('Total Energy' or the 'Company') (TSX:TOT) announces its consolidated financial results for the three months ended June 30, 2025. Financial Highlights ($000's except per share data, unaudited) Notes 1 through 4 please refer to the Notes to the Financial Highlights set forth at the end of this release. nm – calculation not meaningful Total Energy's financial results for the second quarter of 2025 represent record second quarter results. A substantial increase in Australian drilling and service rig activity, continued strong North American demand for compression and process equipment and improved performance from Canadian well servicing more than offset a substantial decline in United States drilling and completion activity and a modest decline in Canadian drilling activity. ARTICLE CONTINUES BELOW Contract Drilling Services ('CDS') (1) See Note 1 of the Notes to the Financial Highlights set forth at the end of this release. (2) Operating days includes drilling and paid standby days. Second quarter CDS segment activity was modestly lower in 2025 compared to 2024 due to a substantial decline in U.S. activity, an extended spring shutdown in Canada and the loss of market share in more competitive areas of the Canadian market. The decline in North American operating days was offset by a significant increase in Australian activity following the acquisition of Saxon in March of 2024 and the reactivation of several upgraded drilling rigs following such acquisition. The year over year increase in second quarter Australian revenue per operating day reflects the addition of Saxon's deeper drilling rig fleet which receives higher day rates as well as increased rates received for upgraded drilling rigs. Rentals and Transportation Services ('RTS') (1) See Note 1 of the Notes to the Financial Highlights set forth at the end of this release. RTS segment revenue and revenue per utilized piece of equipment both decreased for the second quarter of 2025 compared to 2024 due to the mix of equipment operating and lower industry activity. Second quarter segment EBITDA decreased in 2025 compared to the prior year due to the change in the mix of equipment operating and lower equipment utilization. Partially offsetting the decline in U.S. activity was the acquisition of 280 major pieces of rental equipment located in Oklahoma on June 10, 2025. Compression and Process Services ('CPS') (1) See Note 1 of the Notes to the Financial Highlights set forth at the end of this release. (2) Rental equipment utilization is measured on a horsepower basis. 2025 second quarter CPS segment revenue was higher compared to 2024 due to increased fabrication sales and parts and service activity in both Canada and the U.S. that was partially offset by lower compression rental fleet utilization. Efficiencies arising from higher production levels contributed to the year-over-year increase in second quarter segment EBITDA and EBITDA margin. Sequentially, the quarter end fabrication sales backlog increased by $38.5 million, or 15%, from the $265.4 million backlog at March 31, 2025. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Well Servicing ('WS') (1) See Note 1 of the Notes to the Financial Highlights set forth at the end of this release. (2) Service hours is defined as well servicing hours of service provided to customers and includes paid rig move and standby. (3) T he Company reports its service rig utilization for its operational service rigs in North America based on service hours of 3,650 per rig per year to reflect standard 10 hour operations per day. Utilization for the Company's service rigs in Australia is calculated based on service hours of 8,760 per rig per year to reflect standard 24 hour operations. Second quarter WS segment revenue increased in 2025 as compared to 2024 due to increased activity in Australia and Canada following the reactivation of several upgraded service rigs that offset a substantial decline in U.S. activity. Segment EBITDA for the second quarter of 2025 was higher compared to the prior year due to increased Australian and Canadian activity and higher pricing realized in Australia for upgraded service rigs. Corporate During the second quarter of 2025, Total Energy continued to execute on its 2025 capital expenditure program and pursuit of attractive acquisition opportunities. $26.3 million of capital expenditures were made during the second quarter that related primarily to the upgrade of drilling and service rigs in Australia and Canada and the acquisition of rental equipment in the U.S. To June 30, 2025, $60.8 million of capital expenditures were funded, including approximately $16.6 million of capital commitments carried forward from 2024 and the acquisition of 280 pieces of rental equipment located in Oklahoma on June 10, 2025 for $9.0 million. Following the repayment of a $40.4 million mortgage loan that matured on April 29, 2025, Total Energy exited the second quarter of 2025 with $111.8 million of positive working capital, including $34.2 million of cash, and $75.0 million of available credit under its $175 million of revolving bank credit facilities. The weighted average interest rate on the Company's outstanding bank debt at June 30, 2025 was 4.49%. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW $17.0 million was returned to shareholders during the first half of 2025 with the payment of $7.2 million of dividends and the repurchase of $9.8 million of shares under the Company's normal course issuer bid. $10.9 million of bank debt was also repaid during this period. Outlook Oil prices remained relatively weak during the second quarter of 2025 as a result of significant global economic uncertainty. Such uncertainty continues to impair North American drilling and completion activity levels, particularly in the United States. Offsetting such weakness is continued strong North American demand for compression and process equipment and stable Australian industry conditions. The CPS segment's record $303.9 million fabrication sales backlog at June 30, 2025 provides visibility into 2026. Total Energy's Board of Directors has approved a $19.5 million increase to the Company's 2025 capital expenditure budget to $102.4 million. This increase is directed primarily towards the expansion of the CPS segment's United States compression fabrication capacity. The planned expansion will increase the Company's U.S. plant capacity by at least 75% and is expected to be completed by the first quarter of 2027. In addition, an idle Australian service rig will be upgraded and put into service by the end of the first quarter of 2026 under a minimum 12 month contract. Including this increase, approximately 70% of the Company's 2025 capital budget is targeting growth opportunities. Total Energy intends to finance the remaining $58.2 million of 2025 capital expenditure commitments with cash on hand and cashflow. Conference Call At 9:00 a.m. (Mountain Time) on August 6, 2025 Total Energy will conduct a conference call and webcast to discuss its second quarter financial results. Daniel Halyk, President & Chief Executive Officer, will host the conference call. A live webcast of the conference call will be accessible on Total Energy's website at by selecting 'Webcasts'. Persons wishing to participate in the conference call may do so by calling (833) 752-3851 or (647) 846-8915. Those who are unable to listen to the call live may listen to a recording of it on Total Energy's website. A recording of the conference call will also be available until September 6, 2025 by dialing (855) 669-9658 (passcode 1605923). Selected Financial Information Selected financial information relating to the three and six months ended June 30, 2025 and 2024 is included in this news release. This information should be read in conjunction with the condensed interim consolidated financial statements of Total Energy and the notes thereto as well as management's discussion and analysis to be issued in due course and in the Company's 2024 Annual Report. Consolidated Statements of Financial Position (in thousands of Canadian dollars) Consolidated Statements of Income (in thousands of Canadian dollars except per share amounts) (unaudited) Consolidated Statements of Comprehensive Income (in thousands of Canadian dollars except per share amounts) (unaudited) Consolidated Statements of Cash Flows (in thousands of Canadian dollars) (unaudited) Segmented Information The Company provides a variety of products and services to the energy and other resource industries through five reporting segments, which operate substantially in three geographic regions. These reporting segments are Contract Drilling Services, which includes the contracting of drilling equipment and the provision of labor required to operate the equipment, Rentals and Transportation Services, which includes the rental and transportation of equipment used in energy and other industrial operations, Compression and Process Services, which includes the fabrication, sale, rental and servicing of gas compression and process equipment and Well Servicing, which includes the contracting of service rigs and the provision of labor required to operate the equipment. Corporate includes activities related to the Company's corporate and public issuer affairs. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW As at and for the three months ended June 30, 2025 (unaudited, in thousands of Canadian dollars) As at and for the three months ended June 30, 2024 (unaudited, in thousands of Canadian dollars) (1) Corporate includes the Company's corporate activities and obligations pursuant to long-term credit facilities. (2) Includes property, plant and equipment, lease asset (excluding current portion) and goodwill. As at and for the six months ended June 30, 2025 (unaudited, in thousands of Canadian dollars) As at and for the six months ended June 30, 2024 (unaudited, in thousands of Canadian dollars) ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW (1) Corporate includes the Company's corporate activities and obligations pursuant to long-term credit facilities. (2) Includes property, plant and equipment, lease asset (excluding current portion) and goodwill. Total Energy provides contract drilling services, equipment rentals and transportation services, well servicing and compression and process equipment and service to the energy and other resource industries from operation centers in North America and Australia. The common shares of Total Energy are listed and trade on the TSX under the symbol TOT. For further information, please contact Daniel Halyk, President & Chief Executive Officer at (403) 216-3921 or Yuliya Gorbach, Vice-President Finance and Chief Financial Officer at (403) 216-3920 or by e-mail at: investorrelations@ or visit our website at Notes to the Financial Highlights (1) EBITDA means earnings before interest, taxes, depreciation and amortization and is equal to net income (loss) before income taxes plus finance costs plus depreciation. EBITDA is not a recognized measure under IFRS. Management believes that in addition to net income (loss), EBITDA is a useful supplemental measure as it provides an indication of the results generated by the Company's primary business activities prior to consideration of how those activities are financed, amortized or how the results are taxed in various jurisdictions as well as the cash generated by the Company's primary business activities without consideration of the timing of the monetization of non-cash working capital items. Readers should be cautioned, however, that EBITDA should not be construed as an alternative to net income determined in accordance with IFRS as an indicator of Total Energy's performance. Total Energy's method of calculating EBITDA may differ from other organizations and, accordingly, EBITDA may not be comparable to measures used by other organizations. (2) Working capital equals current assets minus current liabilities. (3) Net Debt equals long-term debt plus lease liabilities plus current liabilities minus current assets. Management believes this measure provides a useful indication of the Company's liquidity. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW (4) Basic and diluted shares outstanding reflect the weighted average number of common shares outstanding for the periods. See note 6 to the Company's Condensed Interim Consolidated Financial Statements. Certain statements contained in this press release, including statements which may contain words such as 'could', 'should', 'expect', 'believe', 'will' and similar expressions and statements relating to matters that are not historical facts are forward-looking statements. Forward-looking statements are based upon the opinions and expectations of management of Total Energy as at the effective date of such statements and, in some cases, information supplied by third parties. Although Total Energy believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information received from third parties is reliable, it can give no assurance that those expectations will prove to have been correct. In particular, this press release contains forward-looking statements concerning industry activity levels, including expectations regarding Total Energy's future activity levels, market share and compression and process production activity. Such forward-looking statements are based on a number of assumptions and factors including fluctuations in the market for oil and natural gas and related products and services, political and economic conditions, central bank interest rate policy, the demand for products and services provided by Total Energy, Total Energy's ability to attract and retain key personnel and other factors. Such forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Total Energy to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Reference should be made to Total Energy's most recently filed Annual Information Form and other public disclosures (available at for a discussion of such risks and uncertainties. The TSX has neither approved nor disapproved of the information contained herein.
India Today
16-07-2025
- Health
- India Today
India's obesity crisis tied to diet more than exercise
As obesity rates continue to rise rapidly around the world, weight-loss drugs are gaining popularity. However, like all medications, they come with side effects and may not be affordable or accessible for while the world turns to medication, researchers are focused on a more fundamental question: what's really causing obesity? The reasons are varied — genetics may play a role, but doctors often blame lifestyle. Still, what part of lifestyle is more to blame — a poor diet or lack of exercise?advertisementWhile many assume that not exercising enough is the main cause, a new study suggests otherwise. According to researchers from various institutions, including the University of Cambridge, Stanford University and Baylor College of Medicine, diet plays a bigger role than physical inactivity when it comes to weight THE STUDY LOOKED ATThe study, published in the Proceedings of the National Academy of Sciences, set out to understand whether obesity is mainly due to people eating too many calories, or because they aren't burning enough of them through research team, led by Amanda McGrosky, looked at data from over 4,200 adults between ages 18 and 60, across 34 populations on six included people from a wide range of lifestyles — from hunter-gatherers and farmers to those living in fully industrialised measured how much energy people spent in total (Total Energy Expenditure or TEE), how much came from basic body functions like breathing and digestion (Basal Energy Expenditure or BEE), and how much was from physical activity (Activity Energy Expenditure or AEE).They also measured body fat and BMI. The participants were grouped based on how economically developed their countries were, using the UN Human Development ISN'T THE MAIN CULPRITAt first glance, people in more developed countries had higher energy use — they were burning more calories in total, including from physical also had higher body weight and body fat. But that wasn't the whole adjusting for age, sex, and body size, the data showed that people in wealthier nations weren't burning fewer calories from fact, their activity energy expenditure (AEE) was slightly higher, not lower. This suggests that lack of physical activity alone isn't driving the obesity crisis in those the study found that total energy expenditure was only weakly linked to obesity, accounting for just about 10% of the rise in obesity in high-income researchers pointed to another likely reason: the amount of ultra-processed food (UPF) in the in industrialised societies tend to eat more UPFs — like packaged snacks, sugary drinks, processed meats, and instant meals. These foods were strongly linked to higher body more UPFs in the diet, the more likely a person was to have a higher body fat WHAT YOU EAT MATTERS MOREThe researchers believe that the way ultra-processed foods are made — their taste, texture, high calorie content, and appearance — can override natural hunger signals and lead to also makes it easier for the body to absorb more calories, compared to unprocessed or whole the study makes clear that exercise still plays an important role in preventing disease and supporting mental health, it highlights that solving the obesity crisis means looking beyond just how much people India ranks third in the highest number of overweight and obese individuals in the world, after the US and rates of obesity have doubled over the past three decades, cardiologist Dr. Sukriti Bhalla at Aakash Healthcare, said how obesity has fast-tracked age in a lot of people."A few years ago, heart attacks struck Indians in their late 50s already a decade younger than Western peers due to genetic predisposition. Today, obesity has dragged that age down to the 30s. It's not just a link. Obesity is turning genetic vulnerability into a giant non-communicable disease burden. Visceral fat disrupts metabolism, clogs arteries, and overloads organs," said Dr. calories from ultra-processed foods, improving access to whole foods, and better understanding how these products affect our bodies might help address obesity on a global scale.- EndsMust Watch
Hamilton Spectator
10-06-2025
- Business
- Hamilton Spectator
Total Energy Services Inc. Acquires U.S. Rental Assets
CALGARY, Alberta, June 10, 2025 (GLOBE NEWSWIRE) — Total Energy Services Inc. ('Total Energy' or the 'Company') (TSX:TOT) is pleased to announce that its wholly owned United States subsidiary, Total Oilfield Rentals Inc. ('TORUS'), has acquired a fleet of surface rental equipment operating in Oklahoma for U.S. $6.4 million. The purchase price was paid with cash on hand. The equipment purchased includes approximately 280 pieces of rental equipment as well as a substantial inventory of ancillary equipment. This acquisition establishes TORUS's presence in the Oklahoma drilling and completions rental market and represents a 30% increase to the number of major rental pieces in the Rentals and Transportation Services segment's United States fleet. Total Energy provides contract drilling services, equipment rentals and transportation services, well servicing and compression and process equipment and services to the energy and other resource industries from operation centers in North America and Australia. The common shares of Total Energy are listed and trade on the TSX under the symbol TOT. For further information, please contact Daniel Halyk, President & CEO at (403) 216-3921 or by e-mail at: investorrelations@ or visit our website at: . The TSX has neither approved nor disapproved of the information contained herein.
Hamilton Spectator
30-05-2025
- Business
- Hamilton Spectator
Total Energy Services Inc. Announces Dividend
CALGARY, Alberta, May 30, 2025 (GLOBE NEWSWIRE) — Total Energy Services Inc. ('Total Energy') (TSX:TOT) announces that its Board of Directors has declared a quarterly dividend of $0.10 (Cdn.) per common share for the quarter ending June 30, 2025 on Total Energy's outstanding common shares. The dividend is payable on July 15, 2025, to shareholders of record at the close of business on June 30, 2025. Unless otherwise indicated, all dividends paid by Total Energy are 'eligible dividends' within the meaning of subsection 89(1) of the Income Tax Act (Canada). Headquartered in Calgary, Alberta, Total Energy provides contract drilling services, rentals and transportation services, well servicing and compression and process equipment and service to the energy and other resource industries from operation centers in North America and Australia. The common shares of Total Energy are listed and trade on the TSX under the symbol TOT. For further information, please contact Yuliya Gorbach, Chief Financial Officer at (403) 216-3920 or by e-mail at: investorrelations@ or visit our website at . The TSX has neither approved nor disapproved of the information contained herein.
Yahoo
25-03-2025
- Business
- Yahoo
Sell-off Alert: Don't Miss These Undervalued Canadian Growth Opportunities
Written by Amy Legate-Wolfe at The Motley Fool Canada Market downturns can be unsettling, but they also create opportunities. When stocks take a hit, solid companies often get dragged down with the broader market, presenting investors with a chance to buy undervalued growth stocks. Right now, several Canadian stocks fit the bill, including OpenText (TSX:OTEX), Savaria (TSX:SIS), and Total Energy Services (TSX:TOT). Each of these companies has strong fundamentals and long-term potential, making them compelling choices for investors looking to capitalize on the recent sell-off. OpenText is a leader in enterprise information management software, helping businesses manage and secure their data. While technology stocks often experience volatility, OpenText's core business remains strong. In its second quarter of fiscal 2025, it reported revenue of $1.3 billion, a 13.1% decline year over year. While that drop may seem concerning, cloud revenue actually increased by 2.7% to $462 million. This shift toward cloud services reflects OpenText's ability to adapt to industry trends. The growth stock also delivered strong profitability. Net income surged to $230 million, a massive jump from $38 million in the same quarter last year. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) came in at $501 million, representing a 37.6% margin. These numbers show that despite some top-line pressure, OpenText remains highly profitable. It also rewards investors with a dividend, currently yielding about 2.4%, thus making it an attractive pick for those looking for both growth and income. Savaria operates in a completely different space, specializing in accessibility solutions for people with mobility challenges. This is a growing industry as aging populations create more demand for home elevators, stairlifts, and other accessibility products. Savaria has carved out a strong niche in this market and continues to expand. In fiscal 2023, Savaria generated $837 million in revenue, up 6.1% year over year. This growth was driven by a 6.7% organic increase, along with a favourable foreign exchange impact of 3.2%. The growth stock's largest segment, Accessibility, accounted for 80% of total sales in Q4 and saw revenue climb 4.3%. North America was the standout performer, with 13.6% growth in that segment. Savaria's margins also improved. Gross profit hit $286 million, representing 34.2% of revenue, a 200 basis point increase from the previous year. Operating income rose 12.8% to $72.2 million, while adjusted EBITDA grew 8.2% to $130.1 million. These figures indicate a well-run company with strong operational efficiency. Given the long-term tailwinds of an aging population, Savaria looks like a solid bet for continued growth. Total Energy rounds out the list as an energy services provider with operations in Canada, the United States, and Australia. While energy stocks often fluctuate with commodity prices, Total Energy has managed to maintain solid financials despite the ups and downs of the industry. For the full year ending December 31, 2024, the growth stock reported $906.8 million in revenue, a modest increase from $892.4 million the previous year. More importantly, net income saw a significant jump, rising from $41.6 million to $60.8 million. Basic earnings per share from continuing operations also increased from $1.03 to $1.56. Total Energy's stock recently traded at $9.20, sitting 3.6% above its 52-week low of $8.88. TOT's market capitalization is about $350 million, and it has a price-to-earnings ratio of 8.61. These numbers suggest the growth stock may be undervalued, particularly given its strong earnings growth. For investors willing to ride out the energy sector's cyclical nature, Total Energy offers an attractive valuation. When looking for undervalued growth stocks, it's essential to focus on companies with strong financials, solid business models, and growth potential. OpenText, Savaria, and Total Energy all fit these criteria in different ways. OpenText is a tech leader shifting toward cloud services while maintaining profitability. Savaria is capitalizing on an aging population and improving margins. Total Energy is navigating the energy sector's challenges while delivering rising earnings. A market sell-off can be nerve-wracking, but it also provides a chance to buy quality stocks at a discount. For investors willing to do their research and take a long-term view, these growth stocks could offer significant upside as the market stabilizes. The post Sell-off Alert: Don't Miss These Undervalued Canadian Growth Opportunities appeared first on The Motley Fool Canada. Before you buy stock in OpenText, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and OpenText wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $20,697.16!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 29 percentage points since 2013*. See the Top Stocks * Returns as of 3/20/25 More reading Best Canadian Stocks to Buy in 2025 Here's Exactly How $15,000 in a TFSA Could Grow Into $200,000 4 Secrets of TFSA Millionaires Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Total Energy Services. The Motley Fool has a disclosure policy. 2025
