The Globe and Mail reports in its Thursday, Nov. 17, edition that top gainers in the energy patch were
Canadian Energy Services &
Technology, Secure Energy
Services and Enerflex, which rallied 13 per cent, 9
per cent, and 8 per cent, respectively.
The Globe's Jennifer Dowty writes that all three companies
reported earnings before interest,
taxes, depreciation and amortization
(EBITDA) that
surpassed the Street's expectations.
Challenging industry conditions,
cost controls and cautious
optimistic outlooks were common
themes. For instance, Enerflex
reported a strong increase
in booking and backlog during
the quarter and looking out to
2017, management indicated that they
are, "cautiously optimistic that
further stability in commodity
prices will allow oil and gas producers
to increase investment in
their businesses, which will ultimately
drive demand for Enerflex's
products and services."
Secure management echoed this positive sentiment, stating, "As it appears commodity
prices have bottomed earlier
this year, Secure expects an increase
in oil and gas producers'
capital budgets for 2017 over
2016, which will drive higher
activity levels and benefit all
three of the corporation's divisions."
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