STEP Energy Services Ltd. (T:STEP*CA)

Business Focus: Oil Related Services

Sector:  Energy Industry:  Oil Related Services and Equipment
See Regulatory Filings on SEDAR
Company Contact
Address: Bow Valley Square II
1200, 205-5th Ave SW
Tel: N/A
IR: See website
Key People
Regan Davis
President, Chief Executive Officer, Director
Steve Glanville
Co-Founder, Chief Operating Officer, Vice President - Operations
Bailey Todd Epp
Co-Founder, Vice President - Engineering & Technology
Michael G. Kelly
Chief Financial Officer, Executive Vice President
David Todd Johnson
Vice President - Human Resources
Robert W. Sprinkhuysen
Vice President - Business Development
Business Overview
Step Energy Services Ltd is a Canada-based oilfield service company. The Company specializes in coiled tubing and associated pumping and support equipment to service the deep horizontal well market in Western Canada and south Texas, the United States. Along with coiled tubing solutions, the Company offers fracturing solutions; STEP-PLEX agents as blocking agents for fluid loss prevention, bridging, loss circulation prevention, conductivity improvement and fracture fluid diverting; chemical laboratory solutions, such as stimulation chemistry in fracturing, acidizing, and production enhancement; fluid pumping services for both coiled tubing operations and standalone projects, as well as nitrogen (N2) pumping solutions and services.
Financial Overview
For the nine months ended 30 September 2019, STEP Energy Services Ltd revenues decreased 12% to C$541.8M. Net loss totaled C$119.5M vs. income of C$19.2M. Revenues reflect Canadian Operations segment decrease of 26% to C$282.2M. Net loss reflects Impairment increase from C$0K to C$113.5M (expense), Interest on Borrowings increase of 32% to C$8.9M (expense). Basic Earnings per Share excluding Extraordinary Items decreased from C$0.32 to -C$1.79.
Reporting Currency: Canadian Dollars
Enterprise value: $342.21M as of Sep 30, 2019
Annual revenue (TTM): $710.82M as of Sep 30, 2019
EBITDA (TTM): $82.51M as of Sep 30, 2019
Net annual income (TTM): -$178.02M as of Sep 30, 2019
Free cash flow (TTM): $47.88M as of Sep 30, 2019
Net Debt Last Fiscal Year: $252.88M as of Sep 30, 2019
Shares outstanding: 66,942,830 as of Jan 27, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization