Pason Systems earnings date
Pason Systems (PSYTF) Q3 2026 Earnings Report
PSYTF Q3 2026 EPS Results
- Actual EPS
- $0.17
- Consensus EPS
- $0.17
- Beat/Miss
- Missed by -$0.00
- One Year Ago EPS
- $0.11
PSYTF Q3 2026 Revenue Results
- Actual Revenue
- $83.94M
- Expected Revenue
- $78.70M
- Beat/Miss
- Beat by +$5.23M
- YoY Revenue Growth
- +17.97%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- After Close
- Conference Call
- Thursday, November 5, 2026
Pason Systems's next earnings date is estimated for February 23, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was broadly positive, supported by strong consolidated revenue and earnings growth, record North American Drilling revenue per industry day, a substantial increase in Solar and Energy Storage revenue, a strong balance sheet and expectations for improving activity. The main challenges were weaker Completions activity and revenue, lower year-to-date International Drilling revenue, a slight margin decline from mix, essentially flat free cash flow, and ongoing project timing, tariff and geopolitical uncertainties.
Pason anticipates that Drilling and Completions activity will continue to increase through the remainder of 2026 and into 2027, with its medium-term objective remaining to double revenue from 2023 levels over a 5- to 7-year horizon; it expects continued strength in Solar and Energy Storage while quarterly revenue will remain dependent on the timing of project deliveries, and expects consolidated adjusted EBITDA margins of approximately 38% this quarter. 2026 capital expenditures are expected to be near the lower end of the previously announced $60 million to $70 million range, while '27 capital expenditures are anticipated to be between $65 million and $75 million; the regular quarterly dividend remains at $0.13 per share, and active IWS job count exceeded 30 in October compared to an average of 25 jobs in the third quarter.
- Consolidated Revenue and Adjusted EBITDA GrowthThird-quarter consolidated revenue was $119.1 million, up 18% from $101 million in the third quarter of 2025. Adjusted EBITDA increased 17% to $45.1 million from $38.5 million, representing 37.9% of revenue compared with 38.1% a year ago.
- Record North American Drilling Revenue per Industry DayNorth American drilling activity increased 11% year-over-year, while revenue per industry day reached a new quarterly record of $1,125, up 5% from $1,071. Improved product adoption and a greater proportion of Canadian activity contributed to the increase.
- Strong North American Drilling Segment RevenueNorth American Drilling segment revenue increased 16% to $80 million from $68.8 million, the highest quarterly revenue since the first quarter of 2015, when drilling activity was more than double the current level.
- International Operating Expense DisciplineInternational Drilling revenue increased 3% to $12.8 million from $12.5 million. Despite lower year-to-date revenue primarily related to reduced activity in Argentina, year-to-date operating expenses were down 11%.
- Higher Completions Revenue per IWS DayAlthough Completions activity was lower, revenue per IWS day increased 11% year-over-year to $6,010 from $5,393, reflecting an increasing proportion of more complex operations and the associated mix of technology deployed.
- Solar and Energy Storage Revenue SurgeSolar and Energy Storage revenue increased 145% to $12.4 million from $5.1 million, driven by a higher number of control system deliveries during the quarter.
- Net Income and Cash Flow ImprovementNet income attributable to Pason increased 51% to $18.9 million, or $0.24 per share, from $12.5 million, or $0.18 per share. Cash from operating activities increased 14% to $33.7 million from $29.4 million.
- Strong Balance Sheet and Shareholder ReturnsPason ended September with $76.8 million of total cash, $115 million of working capital and no interest-bearing debt. During the quarter, the company returned $11.6 million to shareholders, consisting of $10.1 million in dividends and $1.5 million in share repurchases.
- Expected Activity RecoveryManagement anticipates that Drilling and Completions activity will continue to increase through the remainder of 2026 and into 2027, supported by reductions in global oil supplies and drawdowns in crude and product inventories.
- Long-Term Revenue Growth ObjectivePason's medium-term objective remains to double revenue from 2023 levels over a 5- to 7-year horizon. The company plans to pursue this through scaling Completions, increasing adoption and price realization in North American Drilling, introducing new drilling technologies including Mud Analysis, expanding internationally, and pursuing adjacent data management opportunities.
- Improving Completions ActivityActive IWS jobs exceeded 30 in October compared with an average of 25 jobs in the third quarter. Management also stated that a higher proportion of jobs now involve more complex completions operations, generating greater revenue per IWS day.
- Expansion of Advanced Completions TechnologyPason is accelerating its transition to next-generation equipment suited to Simul-Frac, Quad-Frac, continuous pumping and other more complex operations requiring more sophisticated valve sequencing and pressure control.
- Data and Product Development OpportunitiesIncreasing well complexity and adoption of data-driven automation and analytics continue to support the value of Pason's technology. Mud Analysis revenue continues to grow, and product development is focused on solutions across a wider range of drilling applications.
- International Product Expansion OpportunityManagement identified the shift toward unconventional drilling and completions internationally as an opportunity to deploy more products, including Mud Analysis and Completions products.
- Energy Toolbase Growth OutlookA significant increase in control system deliveries drove Energy Toolbase revenue to more than double the level of a year ago. Management expects continued strength in the business while noting that quarterly revenue will remain dependent on project-delivery timing.
- Organic Investment Remains the Preferred Capital AllocationManagement stated that organic investments currently offer the highest expected returns. The regular quarterly dividend remains $0.13 per share, while share repurchases remain prioritized over the dividend for incremental capital allocation in the current environment.
- Birch Hill Investment and Board RepresentationBirch Hill built a 19% position in Pason and added two directors to the Board. Management said it was delighted to have Birch Hill as a partner and shareholder and described the relationship as aligned with the existing strategy and approach to capital allocation.
PSYTF Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 23, 2027 | 2026 (Q4) | 0.18- | 0.07 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 0.170.17 | 0.11 | 50.00% (+0.06) | |
| Aug 11, 2026 | 2026 (Q2) | 0.100.13 | 0.11 | 12.50% (+0.01) | |
| May 07, 2026 | 2026 (Q1) | 0.140.12 | 0.18 | -32.00% (-0.06) | |
| Feb 26, 2026 | 2025 (Q4) | 0.100.07 | 0.15 | -52.38% (-0.08) | |
| Nov 06, 2025 | 2025 (Q3) | 0.140.11 | 0.21 | -46.67% (-0.10) | |
| Aug 06, 2025 | 2025 (Q2) | 0.120.11 | 0.1 | 14.29% (+0.01) | |
| May 01, 2025 | 2025 (Q1) | 0.180.18 | 0.61 | -71.26% (-0.44) | |
| Feb 27, 2025 | 2024 (Q4) | 0.160.15 | 0.08 | 90.91% (+0.07) | |
| Nov 07, 2024 | 2024 (Q3) | 0.180.21 | 0.25 | -14.29% (-0.04) |
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.
