PHX Energy Services
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PHX Energy Services (PHX) investor relations material

PHX Energy Services Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary5 May, 2026

Executive summary

  • Consolidated revenue for Q1 2026 was $183.9M, down 5% year-over-year but nearly flat sequentially, marking the second-highest Q1 revenue in company history.

  • Record Rotary Steerable Systems (RSS) activity drove 18% of consolidated activity, up from 15% in Q1 2025.

  • Earnings were $8.9M ($0.20/share), down from $20.2M ($0.44/share) in Q1 2025, impacted by higher depreciation and share-based compensation.

  • Adjusted EBITDA excluding share-based compensation was $39.5M (22% margin), compared to $43.3M (22%) last year.

Financial highlights

  • Revenue: $183.9M (-5% YoY); US division $125.8M (-8% YoY), Canada $58.1M (+1% YoY).

  • Adjusted EBITDA: $30M (-26% YoY), margin 16%; excluding share-based comp: $39.5M (-9% YoY), margin 22%.

  • Net income: $8.9M (-56% YoY); EPS diluted $0.20 (-55% YoY).

  • Cash flows from operations: -$0.5M (down from $10.9M); excess cash flow: $3M (-84% YoY).

  • Dividends paid: $18.1M ($0.40/share), up 100% YoY.

Outlook and guidance

  • Expect continued momentum in RSS deployment and margin stability, with capital spending weighted to H1 2026.

  • Board approved a $5M increase to 2026 capex budget, now $65M, focused on premium technologies.

  • Inflationary pressures and industry volatility expected to persist; focus remains on efficiency and high-margin tech.

  • Anticipate balanced ROCS position by year-end, with ongoing shareholder returns.

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Planet MicroCap Las Vegas 202617 Jun, 2026
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