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Secure Energy Services (TSE:SES)
TSX:SES
Earnings Data
Report Date
Feb 21, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.22Last Year’s EPS
0.2Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 6.87%
|Next Earnings Date:Feb 21, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a robust financial performance with significant strategic investments and strong shareholder returns, despite challenges posed by divestitures and a decline in net income. The company's focus on growth and maintaining a strong balance sheet provides a positive outlook.Company Guidance
During the call, SECURE Waste Infrastructure Corp. provided detailed financial guidance for 2025, projecting adjusted EBITDA to range between $510 million and $540 million, representing a 10% increase at the midpoint from 2024's pro forma results. The company highlighted its strong performance in 2024, with adjusted EBITDA reaching $490 million, and a 35% adjusted EBITDA margin, excluding oil purchased and resold. SECURE executed a $1.15 billion transaction from the sale of 29 Tervita facilities, enhancing their balance sheet and enabling a substantial share buyback program. They repurchased 57.3 million shares at an average price of $11.47, reducing shares outstanding by 19%, while also returning $104 million to shareholders through dividends, offering a 2.7% yield. For 2025, SECURE anticipates discretionary free cash flow between $270 million and $300 million, supported by a low debt-to-EBITDA ratio of approximately 1.1x, post their Edmonton-based metal recycling acquisition. The company plans to invest $85 million in both sustaining and growth capital programs, focused on expanding infrastructure capacity and efficiency, while maintaining strong shareholder returns through opportunistic share repurchases and dividends.Strong Financial Performance
Adjusted EBITDA reached $490 million, at the top end of guidance, despite a 17% year-over-year decline, showcasing strong demand and solid execution. The adjusted EBITDA margin averaged 35% of revenue, demonstrating efficiency and disciplined cost management.
Successful Share Buyback Program
SECURE repurchased 57.3 million common shares at an average price of $11.47 per share, reducing total shares outstanding by 19% and enhancing long-term shareholder value.
Revenue Growth
On an annual pro forma basis, revenue increased approximately 11%, driven by the expansion of the Clearwater heavy oil terminal and increased volumes and pricing in the Waste Management segment.
Strategic Investments
Invested $100 million in growth initiatives, including the completion of the initial expansion of the Clearwater heavy oil terminal, growth of the Montney water pipeline system, and a strategic tuck-in acquisition in the metal recycling business.
Metals Recycling Business Expansion
The acquisition of an Edmonton-based metal recycling business enhances the scale and processing capabilities, contributing approximately 10% to the 2025 adjusted EBITDA before corporate costs.
Strong Balance Sheet
Following the Metals acquisition, the total debt-to-EBITDA ratio, excluding leases, stands at approximately 1.1x, well below the targeted range, providing significant financial flexibility.
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TSE:SES Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:SES Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | C$13.68 | C$15.04 | +9.94% |
| Jul 30, 2024 | C$11.30 | C$12.10 | +7.08% |
| Apr 25, 2024 | C$10.82 | C$11.30 | +4.44% |
| Feb 26, 2024 | C$10.40 | C$10.36 | -0.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Secure Energy Services (TSE:SES) report earnings?
Secure Energy Services (TSE:SES) is schdueled to report earning on Feb 21, 2025, TBA Not Confirmed.
What is Secure Energy Services (TSE:SES) earnings time?
Secure Energy Services (TSE:SES) earnings time is at Feb 21, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:SES EPS forecast?
TSE:SES EPS forecast for the fiscal quarter 2024 (Q4) is 0.22.
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