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Topaz Energy Corp (TSE:TPZ)
TSX:TPZ
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Earnings Data
Report Date
Mar 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.24Last Year’s EPS
0.13Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 17, 2021
|% Change Since: -6.14%
|Next Earnings Date:Nov 11, 2020
Earnings Call Sentiment|Positive
The earnings call highlighted significant strategic acquisitions and financial performance improvements, with record drilling activity and sustainable dividends, but also noted concerns over current debt levels and delayed production from new wells.Company Guidance
During the Q3 2024 earnings call, Topaz Energy Corp. provided updated guidance and key metrics that reflect its recent strategic moves and financial performance. Following the acquisition from Tourmaline Oil Corp., which added royalty interest over 3 million gross acres, Topaz's royalty acreage increased by 50%. This move is expected to boost royalty production by 12% immediately, with the potential for further growth. The company reported an average royalty production of 18,700 BOE per day for the quarter and anticipates maintaining 29 to 31 active drilling rigs through Q4 2024. The third quarter saw Topaz generating total revenue of $73.6 million, cash flow of $67.0 million, and free cash flow of $64.8 million, with a 99% operating margin from royalty revenue. The company also highlighted a dividend distribution of $47.8 million, representing a 5.2% yield on an annualized basis. Looking ahead, Topaz expects to conclude 2024 with net debt between $460 million and $470 million, maintaining a net debt to EBITDA ratio of 1.5x. Furthermore, the anticipated completion of the Clearwater Natural Gas Gathering Infrastructure project in December 2024 is set to enhance processing revenue by $4.3 million starting January 2025.Strategic Acquisition
Topaz completed the acquisition from Tourmaline Oil Corp., adding royalty interest over 3 million gross acres, increasing royalty acreage by 50%, including a 38% increase in premium Montney rights acreage, for $278.2 million.
Equity Financing Success
Topaz closed a bought-deal equity finance and private placement, issuing 8.26 million shares at $25.05 per share, using proceeds to fund the Tourmaline Royalty Acquisition.
Record Drilling Activity
A record 216 gross wells drilled on undeveloped royalty lands in Q3, representing 17% of the total wells drilled across the WCSB.
Financial Performance
Q3 total revenue and other income of $73.6 million, cash flow of $67.0 million, and free cash flow of $64.8 million. Third quarter earnings per share approximately 2x higher than the prior year.
Dividend Sustainability
Distributed $47.8 million in quarterly dividends, representing a 5.2% dividend yield on an annualized basis, with excess free cash flow allocated to debt repayment.
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TSE:TPZ 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:TPZ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | C$26.69 | C$27.31 | +2.32% |
| Jul 29, 2024 | C$23.98 | C$25.12 | +4.75% |
| Apr 29, 2024 | C$22.21 | C$21.91 | -1.35% |
| Mar 04, 2024 | C$19.28 | C$20.40 | +5.81% |
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 Topaz Energy Corp (TSE:TPZ) report earnings?
Topaz Energy Corp (TSE:TPZ) is schdueled to report earning on Mar 04, 2025, TBA Not Confirmed.
What is Topaz Energy Corp (TSE:TPZ) earnings time?
Topaz Energy Corp (TSE:TPZ) earnings time is at Mar 04, 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:TPZ EPS forecast?
TSE:TPZ EPS forecast for the fiscal quarter 2024 (Q4) is 0.24.
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