CES Energy Solutions Corp. - CEU-T

Company Website 

Company Highlights:

  • CEU provides drilling fluids and production fluids in both the US and Canada. The US provides 69% of revenues and Canada the rest. They have an 18% market share in the US with a 28% market share in the Permian. In Canada they have a robust 38% dominant share. One key advantage is that they have 9 labs to create specific products for customers' needs.
  • In Q2/22 revenues rose 71% to $434M versus $254M in Q2/21. Net income rose to $20M from $6.6M in Q2/21.
  • The company has 256M shares outstanding and a market capitalization of over $600M. The company has a working capital surplus of $575M or $2.16 per share and net debt is a negative $53M. Insiders are significant shareholders. They pay an annual dividend of six cents per share.
  • We see CEU generating $0.65 per share in cash flow this year. We have a $11.00 per share Bull Market Peak target.
Anthony Aulicino
Anthony Aulicino
Chief Financial Officer
As Chief Financial Officer, Tony oversees financial management, treasury, capital market financings, corporate development, investor relations and corporate services. Tony has 22 years of experience in corporate finance, capital markets, mergers & acquisitions, and the North American energy services industry. Prior to joining CES as Chief Financial Office in 2018, Tony led Energy Services Investment Banking at Scotiabank Global Banking and Markets, where he most recently held the title of Managing Director. Early in his career, Tony practiced as a Professional Engineer in the manufacturing sector for five years earning two patents. He completed an MBA (Finance Specialization) from Rotman School of Management, University of Toronto, and a B.A.Sc. in Mechanical Engineering from University of Toronto.