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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Calfrac Well Services
Calfrac Well Services (CFW) investor relations material
Calfrac Well Services Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary10 Nov, 2026
Executive summary
Q3 revenue rose 13% YoY to $365.7 million; Adjusted EBITDA reached $54.5 million and net income was $16.3 million, supported by stronger North American results.
Net debt fell $10.7 million in Q3 and $81.7 million, or 42%, since Dec. 31, 2025, to $115.1 million.
Financial highlights
Q3 revenue was $365.7 million vs. $323.4 million YoY; 9M revenue was $1,097.8 million vs. $1,095.8 million.
Q3 Adjusted EBITDA was $54.5 million vs. $48.5 million; net income was $16.3 million vs. $4.3 million.
9M net income from continuing operations was $67.0 million vs. $27.4 million; diluted continuing-operations EPS was $0.67 vs. $0.31.
Q3 operating cash flow was $31.8 million vs. $30.1 million; free cash flow was $11.1 million vs. negative $1.2 million.
Outlook and guidance
North American completion demand is expected to remain constructive through 2026 and Q1 2027; winter weather and holidays may periodically reduce utilization in Q4 2026 and Q1 2027.
Selective fleet deployment, improved utilization, and gradually improving pricing—led by the U.S. market—are expected to support stronger returns.
Argentina fracturing activity is expected to improve through year-end and early Q1 2027; coiled tubing and cementing expansions are expected to start operating in 2027.
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Latest events from Calfrac Well Services
- Revenue up 6% and net income more than doubled, with net debt at a decade low.CFW
Q2 2026 - Net income more than doubled year-over-year as margins improved despite lower revenue.CFWQ1 2026
- Q4 2025 delivered higher EBITDA and net income despite lower revenue, with a strong 2026 outlook.CFWQ4 2025
- Q3 2025 delivered higher net income and cash flow, with major debt reduction and a $35M rights offering.CFWQ3 2025
- Strong Q2 EBITDA and cash flow driven by Argentina growth, with focus on debt reduction.CFWQ2 2025
- Q2 2024 saw sequential revenue growth, record operations, and major capital investment in Argentina.CFWQ2 2024
- Argentina's record Q3 profit offset North American softness; modernization and growth continue.CFWQ3 2024
- Record Argentina performance drove Calfrac's Q1 2025 revenue and profit growth.CFWQ1 2025
- Q4 revenue and EBITDA fell, but Argentina growth and 2025 capital plans support a stable outlook.CFWQ4 2024
Next Calfrac Well Services earnings date
Q4 202619 Mar, 2027
Calfrac Well Services
Next Calfrac Well Services earnings date
Q4 202619 Mar, 2027
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Frequently asked questions
Calfrac Well Services Ltd. is a Canada-based company that provides specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing, and other well stimulation services. The company supports exploration and production companies in optimizing oil and natural gas recovery from reservoirs. Calfrac operates in multiple regions, including Canada, the United States, and Latin America, serving a range of energy sector clients. The company is headquartered in Calgary, Canada, and its shares are listed on the TSX.