Overview

* Pason ( PSYTF ) Q3 revenue declines 5% yr/yr to C$101 mln, reflecting challenging industry conditions

* Adjusted EBITDA for Q3 beats analyst expectations, indicating strong operational performance

* Net income attributable to Pason ( PSYTF ) falls 48% yr/yr, reflecting lower industry activity

Outlook

* Pason ( PSYTF ) anticipates 2025 capital expenditures between C$55 mln and C$60 mln

* Company expects industry conditions to remain challenging due to economic uncertainty

* Pason ( PSYTF ) aims to grow international revenue in unconventional drilling markets

Result Drivers

* NORTH AMERICAN DRILLING - Revenue per Industry Day reached a new record, driven by increased product adoption

* INTERNATIONAL CHALLENGES - Revenue decline in Argentina due to operational shift and currency depreciation

* COMPLETIONS GROWTH - Revenue increased despite market challenges, driven by higher job activity and revenue per day

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 C$101

Revenue mln

Q3 EPS C$0.16

Q3 Net C$12.50

Income mln

Attribut

able

Q3 Beat C$38.50 C$36.20

Adjusted mln mln (3

EBITDA Analysts

)

Q3 Free C$18.70

Cash mln

Flow

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the oil related services and equipment peer group is "buy"

* Wall Street's median 12-month price target for Pason Systems Inc ( PSYTF ) is C$14.00, about 14.4% above its November 5 closing price of C$11.98

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)