Source Energy Q2 FY26 net loss narrows to $5.6 million; revenue drops 32% to $137.1 million
Reuters2026/07/29 21:21- Source Energy Services posted Q2 net loss of CAD 5.6 million, narrowing from the prior-year quarter; operating loss was CAD 653,000.
- Revenue fell 32% from a year earlier to CAD 137.1 million on sand sales volumes of 831,234 MT, down 24%.
- Adjusted EBITDA (non-IFRS) dropped 47% year over year to CAD 18.5 million as Western Canada activity slowed and Peace River ramp-up lagged.
- Gross margin slid 53% from a year earlier to CAD 17.4 million; adjusted gross margin (non-IFRS) declined 39% to CAD 29.8 million.
- Outlook calls for stronger activity in the second half with full-year 2026 slightly below last year; Jeffrey Bowers joined the board.
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