Declared Dividend • Aug 17
Third quarter dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 29th September 2026 Payment date: 9th October 2026 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 18%. Cash payout ratio: 16%. Price Target Changed • Aug 16
Price target increased by 8.1% to CA$163 Up from CA$151, the current price target is an average from 6 analysts. New target price is 25% above last closing price of CA$130. Stock is down 6.6% over the past year. The company is forecast to post earnings per share of CA$4.01 for next year compared to CA$4.27 last year. Announcement • Aug 15
TerraVest Industries Inc. Announces Quarterly Dividend, Payable on October 9, 2026 TerraVest Industries Inc. announce that the Board of Directors has declared a quarterly dividend of $0.20 per common share payable on October 9, 2026 to shareholders of record as at the close of business on September 30, 2026. Reported Earnings • Aug 14
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: CA$1.43 (up from CA$0.55 in 3Q 2025). Revenue: CA$460.9m (up 14% from 3Q 2025). Net income: CA$30.9m (up 174% from 3Q 2025). Profit margin: 6.7% (up from 2.8% in 3Q 2025). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 200%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jul 26
Price target decreased by 8.9% to CA$151 Down from CA$165, the current price target is an average from 6 analysts. New target price is 26% above last closing price of CA$120. Stock is down 28% over the past year. The company is forecast to post earnings per share of CA$3.13 for next year compared to CA$4.27 last year. Price Target Changed • Jul 08
Price target decreased by 9.6% to CA$157 Down from CA$174, the current price target is an average from 6 analysts. New target price is 37% above last closing price of CA$114. Stock is down 32% over the past year. The company is forecast to post earnings per share of CA$3.14 for next year compared to CA$4.27 last year. Live News • Jul 04
TerraVest Buys Superior Pressure Vessels to Expand Pressurized Transport Manufacturing Capacity TerraVest Industries has acquired Superior Pressure Vessels Inc., an Alberta-based manufacturer and service provider of pressurized transport tanks and trailers, using its existing credit facility to fund the transaction.
The deal adds manufacturing capacity to TerraVest’s Compressed Gas Equipment division, which could broaden the range of pressurized transport equipment and services it can offer to customers in that segment.
TerraVest’s shares last traded at CA$118.98, with the stock down 27.7% year to date, so this acquisition arrives at a time when the market has recently marked the stock lower.
The key question is whether TerraVest can integrate Superior Pressure Vessels efficiently and secure enough demand for the added capacity, since any operational hiccups or underutilized assets could weigh on margins and returns from this acquisition. Upcoming Dividend • Jun 23
Upcoming dividend of CA$0.20 per share Eligible shareholders must have bought the stock before 30 June 2026. Payment date: 10 July 2026. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Canadian dividend payers (5.4%). Lower than average of industry peers (1.7%). Live News • Jun 12
TerraVest Faces $6.8 Million Insider Trading Probe as Board Launches Internal Review TerraVest Industries is under pressure after allegations that Executive Chairman Charles Pellerin tipped family members and associates with confidential information related to the March 2025 Entrans acquisition.
Quebec regulator AMF is investigating suspected insider trading that reportedly generated about $6.8 million in illicit profits for those connected parties.
TerraVest’s board, excluding Pellerin, has started an internal review and indicated it will cooperate with regulators, while law firms Faguy & Co. and Siskinds LLP are exploring potential securities class actions.
The core question for the company now is how quickly and transparently the board can address the allegations and any findings from the AMF to restore confidence in governance.
You should watch for updates on the internal review, any formal AMF charges, and the progress of class action investigations, as these could affect both legal exposure and how the market views the stock’s risk profile. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to CA$114, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 12x in the Energy Services industry in Canada. Total returns to shareholders of 330% over the past three years. Live News • Jun 04
TerraVest Expands Propane and Transportation Services With Two New Acquisitions TerraVest Industries acquired Jet Peinture Plus Inc., a Québec-based propane tank refurbishment and recertification company, using cash on hand and its existing credit facilities.
The Jet Peinture acquisition is expected to create cost and operational synergies by using Jet Peinture's manufacturing facilities and supply chain.
TerraVest also acquired the assets of B&R Repair Inc., a transportation service provider in the Chicagoland area founded in 1987, funded with cash on hand and existing credit facilities.
These two deals point to TerraVest continuing to expand its footprint in propane-related services and transportation support, while keeping financing relatively conservative by relying on cash and established credit lines.
Investors may wish to monitor how efficiently TerraVest integrates these businesses and whether anticipated synergies and service expansion offset any integration costs or operational disruption. Announcement • Jun 02
TerraVest Industries Inc. (TSX:TVK) through an undisclosed subsidiary, acquired Jet Peinture Plus Inc. TerraVest Industries Inc. (TSX:TVK), through an undisclosed subsidiary, acquired Jet Peinture Plus Inc. on June 1, 2026.
The acquisition was funded utilizing cash on hand and TerraVest's existing credit facilities.
TerraVest Industries Inc. completed the acquisition of Jet Peinture Plus Inc. on June 1, 2026. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CA$158, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 13x in the Energy Services industry in Canada. Total returns to shareholders of 499% over the past three years. Declared Dividend • May 18
Second quarter dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 30th June 2026 Payment date: 10th July 2026 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 22%. Cash payout ratio: 15%. Reported Earnings • May 17
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: EPS: CA$0.46 (down from CA$1.45 in 2Q 2025). Revenue: CA$442.6m (up 42% from 2Q 2025). Net income: CA$10.0m (down 64% from 2Q 2025). Profit margin: 2.3% (down from 9.1% in 2Q 2025). Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 24
Upcoming dividend of CA$0.20 per share Eligible shareholders must have bought the stock before 31 March 2026. Payment date: 10 April 2026. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Canadian dividend payers (5.7%). Lower than average of industry peers (1.7%). Recent Insider Transactions • Feb 23
Executive Chairman recently sold CA$8.9m worth of stock On the 20th of February, Charles Pellerin sold around 57k shares on-market at roughly CA$157 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Charles has been a net seller over the last 12 months, reducing personal holdings by CA$16m. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CA$157, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 12x in the Energy Services industry in Canada. Total returns to shareholders of 488% over the past three years. Declared Dividend • Feb 13
First quarter dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 31st March 2026 Payment date: 10th April 2026 Dividend yield will be 0.5%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 17%. Cash payout ratio: 18%. Announcement • Feb 11
Terravest Industries Inc. Declares Quarterly Dividend, Payable on April 10, 2026 TerraVest Industries Inc. announced that the Board of Directors has declared a quarterly dividend of $0.20 per common share payable on April 10, 2026 to shareholders of record as at the close of business on March 31, 2026. Recent Insider Transactions • Jan 16
Insider recently sold CA$1.9m worth of stock On the 14th of January, Mitchell Debelser sold around 11k shares on-market at roughly CA$174 per share. This transaction amounted to 2.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$28m more than they bought in the last 12 months. Announcement • Jan 10
TerraVest Industries Inc. (TSX:TVK) acquired KBK Industries, LLC from Main Street Capital Corporation (NYSE:MAIN) and Ashland Capital Partners, LLC for $90 million. TerraVest Industries Inc. (TSX:TVK) acquired KBK Industries, LLC from Main Street Capital Corporation (NYSE:MAIN) and Ashland Capital Partners, LLC for $90 million on January 9, 2026. A cash consideration of $90 million will be paid by TerraVest Industries Inc, subject to a working capital adjustment approximately 90 days post-closing. TerraVest utilized its existing credit facility to fund the acquisition of KBK.
The transaction reflects TEV/EBITDA multiple of 5.6x.
TerraVest Industries Inc. (TSX:TVK) completed the acquisition of KBK Industries, LLC from Main Street Capital Corporation (NYSE:MAIN) and Ashland Capital Partners, LLC on January 9, 2026. New Risk • Dec 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CA$155, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 12x in the Energy Services industry in Canada. Total returns to shareholders of 516% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$292 per share. Declared Dividend • Dec 16
Fourth quarter dividend increased to CA$0.20 Dividend of CA$0.20 is 14% higher than last year. Ex-date: 31st December 2025 Payment date: 9th January 2026 Dividend yield will be 0.5%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 41%. Announcement • Dec 13
TerraVest Industries Inc. Declares Quarterly Dividend, Payable on January 9, 2026 TerraVest Industries Inc. declared quarterly dividend of $0.20 per common share payable on January 9, 2026 to shareholders of record as at the close of business on December 31, 2025. This represents a 14% increase over the prior quarterly dividend. The dividend is designated an "eligible dividend" for Canadian income tax purposes. Announcement • Dec 12
TerraVest Industries Inc. (TSX:TVK) acquired all the Canadian assets of New Wave Energy Services Ltd. TerraVest Industries Inc. (TSX:TVK) acquired all the Canadian assets of New Wave Energy Services Ltd. in September 2025.
TerraVest Industries Inc. (TSX:TVK) completed the acquisition of all the Canadian assets of New Wave Energy Services Ltd. in September 2025. Reported Earnings • Dec 11
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: CA$4.27 (up from CA$3.41 in FY 2024). Revenue: CA$1.37b (up 50% from FY 2024). Net income: CA$86.7m (up 36% from FY 2024). Profit margin: 6.3% (down from 7.0% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 82% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 10
TerraVest Industries Inc., Annual General Meeting, Feb 10, 2026 TerraVest Industries Inc., Annual General Meeting, Feb 10, 2026. Announcement • Nov 01
TerraVest Industries Inc. Announces CFO Changes TerraVest Industries Inc. announced the appointment of Guillaume Cloutier as Chief Financial Officer. Mr. Cloutier assumes the CFO role from Marilyn Boucher. Mr. Cloutier is a highly accomplished executive with extensive experience in finance, strategy and business transformation. He has held senior leadership positions in several industry-leading manufacturing businesses across North America. Upcoming Dividend • Sep 22
Upcoming dividend of CA$0.17 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 10 October 2025. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Canadian dividend payers (5.8%). Lower than average of industry peers (2.4%). Major Estimate Revision • Aug 21
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CA$1.41b to CA$1.37b. EPS estimate also fell from CA$4.77 per share to CA$4.08 per share. Net income forecast to shrink 0.8% next year vs 27% growth forecast for Energy Services industry in Canada . Consensus price target down from CA$188 to CA$180. Share price was steady at CA$146 over the past week. Declared Dividend • Aug 17
Third quarter dividend of CA$0.17 announced Shareholders will receive a dividend of CA$0.17. Ex-date: 29th September 2025 Payment date: 10th October 2025 Dividend yield will be 0.5%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 17%. Cash payout ratio: 24%. Announcement • Aug 16
TerraVest Industries Inc. Declares Quarterly Dividend, Payable on October 10, 2025 TerraVest announce that the Board of Directors has declared a quarterly dividend of $0.175 per common share payable on October 10, 2025 to shareholders of record as at the close of business on September 30, 2025. Reported Earnings • Aug 15
Third quarter 2025 earnings released: EPS: CA$0.55 (vs CA$0.63 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.55 (down from CA$0.63 in 3Q 2024). Revenue: CA$405.7m (up 70% from 3Q 2024). Net income: CA$11.3m (down 5.6% from 3Q 2024). Profit margin: 2.8% (down from 5.0% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 23
Upcoming dividend of CA$0.17 per share Eligible shareholders must have bought the stock before 30 June 2025. Payment date: 10 July 2025. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Canadian dividend payers (6.1%). Lower than average of industry peers (2.3%). Recent Insider Transactions • Jun 01
CEO, President & Director recently sold CA$9.8m worth of stock On the 26th of May, Dustin Haw sold around 60k shares on-market at roughly CA$163 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Dustin has been a net seller over the last 12 months, reducing personal holdings by CA$13m. Recent Insider Transactions Derivative • May 27
Chief Investment Officer exercised options and sold CA$17m worth of stock On the 22nd of May, Mitchell Gilbert exercised options to acquire 104k shares at no cost and sold these for an average price of CA$161 per share. This trade did not impact their existing holding. Since June 2024, Mitchell's direct individual holding has decreased from 48.66k shares to 28.66k. Company insiders have collectively sold CA$47m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • May 25
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from CA$5.88 to CA$4.93 per share. Revenue forecast steady at CA$1.45b. Net income forecast to grow 29% next year vs 14% growth forecast for Energy Services industry in Canada. Consensus price target up from CA$185 to CA$191. Share price fell 4.8% to CA$162 over the past week. Announcement • May 24
TerraVest Industries Inc. has completed a Follow-on Equity Offering in the amount of CAD 278.922 million. TerraVest Industries Inc. has completed a Follow-on Equity Offering in the amount of CAD 278.922 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 1,740,000
Price\Range: CAD 160.3
Discount Per Security: CAD 6.412 Recent Insider Transactions • May 23
Executive Chairman recently sold CA$4.4m worth of stock On the 16th of May, Charles Pellerin sold around 26k shares on-market at roughly CA$171 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Charles has been a net seller over the last 12 months, reducing personal holdings by CA$18m. Declared Dividend • May 16
Second quarter dividend of CA$0.17 announced Shareholders will receive a dividend of CA$0.17. Ex-date: 30th June 2025 Payment date: 10th July 2025 Dividend yield will be 0.4%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 16%. Announcement • May 16
TerraVest Industries Inc. has filed a Follow-on Equity Offering in the amount of CAD 240.45 million. TerraVest Industries Inc. has filed a Follow-on Equity Offering in the amount of CAD 240.45 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 1,500,000
Price\Range: CAD 160.3 Reported Earnings • May 15
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: CA$1.45 (up from CA$1.23 in 2Q 2024). Revenue: CA$311.5m (up 45% from 2Q 2024). Net income: CA$28.2m (up 26% from 2Q 2024). Profit margin: 9.1% (down from 10% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 52%. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 88% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 15
TerraVest Industries Inc. Declares Quarterly Dividend, Payable on July 10, 2025 TerraVest Industries Inc. announced that the board of directors has declared a quarterly dividend of $0.175 per common share, payable on July 10, 2025 to shareholders of record as at the close of business on June 30, 2025. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CA$166, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 7x in the Energy Services industry in Canada. Total returns to shareholders of 640% over the past three years. Price Target Changed • May 04
Price target increased by 9.4% to CA$163 Up from CA$149, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CA$162. Stock is up 121% over the past year. The company is forecast to post earnings per share of CA$5.54 for next year compared to CA$3.41 last year. Announcement • May 02
TerraVest Industries Inc. (TSX:TVK) acquired Tankcon Frp Inc. from Alain Chatillon for an enterprise value of CAD 27.8 million. TerraVest Industries Inc. (TSX:TVK) acquired Tankcon Frp Inc. from Alain Chatillon for an enterprise value of CAD 27.8 million on May 1, 2025. Tankcon was acquired for an enterprise value of approximately CAD 27.8 million, and subject to customary closing adjustments.
TerraVest Industries Inc. (TSX:TVK) acquired Tankcon Frp Inc. from Alain Chatillon on May 1, 2025. Announcement • May 01
TerraVest Industries Inc. (TSX:TVK) acquired Simplex, Inc. from family for an enterprise value $28 million. TerraVest Industries Inc. (TSX:TVK) acquired Simplex, Inc. from family for an enterprise value $28 million on April 30, 2025. As part of consideration an enterprise value of approximately US$28.0 million, including the assumption of certain liabilities, and subject to customary closing adjustments.
TerraVest Industries Inc. (TSX:TVK) completed the acquisition of Simplex, Inc. from family on April 30, 2025. Announcement • Apr 04
TerraVest Industries Inc. (TSX:TVK) acquired LBT, Inc. from Remcor Inc. for an enterprise value of approximately $16 million. TerraVest Industries Inc. (TSX:TVK) acquired LBT, Inc. from Remcor Inc. for an enterprise value of approximately $16 million on April 4, 2025.
TerraVest Industries Inc. (TSX:TVK) completed the acquisition of LBT, Inc. from Remcor Inc. on April 4, 2025. Buy Or Sell Opportunity • Apr 03
Now 23% undervalued Over the last 90 days, the stock has risen 25% to CA$140. The fair value is estimated to be CA$182, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 68% in a year. Earnings are forecast to grow by 30% in the next year. Upcoming Dividend • Mar 24
Upcoming dividend of CA$0.17 per share Eligible shareholders must have bought the stock before 31 March 2025. Payment date: 10 April 2025. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Canadian dividend payers (6.3%). Lower than average of industry peers (2.4%). Price Target Changed • Mar 18
Price target increased by 16% to CA$149 Up from CA$128, the current price target is an average from 4 analysts. New target price is 8.3% above last closing price of CA$137. Stock is up 140% over the past year. The company is forecast to post earnings per share of CA$4.99 for next year compared to CA$3.41 last year. Announcement • Mar 18
TerraVest Industries Inc. (TSX:TVK) acquired Engineered Transportation International for approximately $590 million. TerraVest Industries Inc. (TSX:TVK) acquired Engineered Transportation International for approximately $590 million on March 17, 2025. As for consideration, TerraVest Industries Inc. paid $546 million at closing, and a contingent earn-out consideration based on the future financial performance of Engineered Transportation International in the 12-month period following the date of acquisition of up to $46 million. The purchase price represents a multiple of approximately 7.0x to Engineered Transportation International's trailing twelve-month EBITDA. TerraVest amended and restated its existing credit facility to finance this acquisition. The revised credit facility includes a $556 million revolving credit facility with a three-year maturity, a $139 million term loan, and two $69 million term loans. The facility is secured by TerraVest Industries Inc. and its wholly-owned subsidiaries. Desjardins Group serves as the sole lead arranger, sole bookrunner, and administrative agent, leading the syndicate of lenders.
TerraVest Industries Inc. (TSX:TVK) completed the acquisition of Engineered Transportation International on March 17, 2025. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CA$131, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 8x in the Energy Services industry in Canada. Total returns to shareholders of 443% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$131 per share. Buy Or Sell Opportunity • Mar 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to CA$103. The fair value is estimated to be CA$130, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 22%. Declared Dividend • Feb 14
First quarter dividend of CA$0.17 announced Shareholders will receive a dividend of CA$0.17. Ex-date: 31st March 2025 Payment date: 10th April 2025 Dividend yield will be 0.5%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 14%. Reported Earnings • Feb 12
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: CA$1.47 (up from CA$0.96 in 1Q 2024). Revenue: CA$234.6m (up 2.8% from 1Q 2024). Net income: CA$28.7m (up 65% from 1Q 2024). Profit margin: 12% (up from 7.6% in 1Q 2024). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) exceeded analyst estimates by 40%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 12
TerraVest Industries Inc. Declares Quarterly Dividend, Payable on April 10, 2025 TerraVest Industries Inc. announced that the Board of Directors has declared a quarterly dividend of $0.175 per common share payable on April 10, 2025 to shareholders of record as at the close of business on March 31, 2025. Recent Insider Transactions • Dec 26
Chief Investment Officer recently sold CA$2.4m worth of stock On the 19th of December, Mitchell Gilbert sold around 20k shares on-market at roughly CA$120 per share. This transaction amounted to 41% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$9.6m. Insiders have been net sellers, collectively disposing of CA$37m more than they bought in the last 12 months. Declared Dividend • Dec 16
Fourth quarter dividend increased to CA$0.17 Dividend of CA$0.17 is 17% higher than last year. Ex-date: 31st December 2024 Payment date: 10th January 2025 Dividend yield will be 0.5%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 18%. Cash payout ratio: 14%. Reported Earnings • Dec 15
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: CA$3.41 (up from CA$2.35 in FY 2023). Revenue: CA$911.8m (up 34% from FY 2023). Net income: CA$63.6m (up 51% from FY 2023). Profit margin: 7.0% (up from 6.2% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 3.5%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 61% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 14
TerraVest Industries Inc. Declares Quarterly Dividend, Payable on January 10, 2025 TerraVest Industries Inc. announced that The Board of Directors has declared a quarterly dividend of $0.175 per common share payable on January 10, 2025 to shareholders of record as at the close of business on December 31, 2024. This represents a 17% increase over the prior quarterly dividend. Announcement • Dec 11
TerraVest Industries Inc., Annual General Meeting, Feb 11, 2025 TerraVest Industries Inc., Annual General Meeting, Feb 11, 2025. Recent Insider Transactions • Oct 07
Executive Chairman recently sold CA$1.8m worth of stock On the 3rd of October, Charles Pellerin sold around 18k shares on-market at roughly CA$101 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$2.0m. Charles has been a net seller over the last 12 months, reducing personal holdings by CA$3.6m. Upcoming Dividend • Sep 20
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 10 October 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Canadian dividend payers (5.8%). Lower than average of industry peers (2.3%). Declared Dividend • Aug 16
Third quarter dividend of CA$0.15 announced Shareholders will receive a dividend of CA$0.15. Ex-date: 27th September 2024 Payment date: 10th October 2024 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 16%. Reported Earnings • Aug 15
Third quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2024 results: EPS: CA$0.63 (up from CA$0.45 in 3Q 2023). Revenue: CA$238.1m (up 58% from 3Q 2023). Net income: CA$11.9m (up 50% from 3Q 2023). Profit margin: 5.0% (down from 5.3% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 9.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.8% decline forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CA$90.40, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 7x in the Energy Services industry in Canada. Total returns to shareholders of 374% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$124 per share. Announcement • Aug 14
TerraVest Industries Inc. Declares Quarterly Dividend on Common Shares, Payable on October 10, 2024 TerraVest Industries Inc. announced that the Board of Directors has declared a quarterly dividend of $0.15 per common share payable on October 10, 2024 to shareholders of record as at the close of business on September 30, 2024. Recent Insider Transactions • Jun 13
Independent Director recently sold CA$6.3m worth of stock On the 7th of June, Dale Laniuk sold around 85k shares on-market at roughly CA$74.25 per share. This transaction amounted to 99% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$20m more than they bought in the last 12 months. Recent Insider Transactions • May 29
Insider recently bought CA$31m worth of stock On the 24th of May, Mitchell Debelser bought around 401k shares on-market at roughly CA$78.20 per share. This transaction increased Mitchell's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$22m more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 20
Insider recently sold CA$770k worth of stock On the 17th of May, Mitchell Debelser sold around 10k shares on-market at roughly CA$77.04 per share. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$2.9m more than they bought in the last 12 months. Announcement • May 16
TerraVest Industries Inc. has completed a Follow-on Equity Offering in the amount of CAD 84.1995 million. TerraVest Industries Inc. has completed a Follow-on Equity Offering in the amount of CAD 84.1995 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 1,134,000
Price\Range: CAD 74.25
Discount Per Security: CAD 2.97 Declared Dividend • May 12
Second quarter dividend of CA$0.15 announced Shareholders will receive a dividend of CA$0.15. Ex-date: 28th June 2024 Payment date: 10th July 2024 Dividend yield will be 0.7%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 20%. New Risk • May 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks High level of debt (116% net debt to equity). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Significant insider selling over the past 3 months (CA$996k sold). Reported Earnings • May 08
Second quarter 2024 earnings released: EPS: CA$1.23 (vs CA$0.50 in 2Q 2023) Second quarter 2024 results: EPS: CA$1.23 (up from CA$0.50 in 2Q 2023). Revenue: CA$214.9m (up 22% from 2Q 2023). Net income: CA$22.4m (up 152% from 2Q 2023). Profit margin: 10% (up from 5.0% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Apr 16
Independent Director recently sold CA$298k worth of stock On the 15th of April, Blair Cook sold around 4k shares on-market at roughly CA$74.50 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$1.8m more than they bought in the last 12 months.