Canada's PHX Energy Q2 revenue beats estimates
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PHX Energy reported a 9% increase in Q2 2025 revenue, surpassing analyst expectations with C$167.67 million. However, adjusted EBITDA fell 9% due to rising equipment costs. The company repurchased 100,000 shares and plans to renew its NCIB strategy. Despite a projected softer market in 2025, PHX anticipates strong activity and revenue growth, particularly in its Canadian RSS fleet and US expansion. Analysts maintain a "buy" rating, with a median 12-month price target of C$10.00, reflecting an 18.4% upside from its recent trading price of C$8.16.
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