Declared Dividend • May 01
First quarter dividend of CA$0.019 announced Shareholders will receive a dividend of CA$0.019. Ex-date: 12th May 2026 Payment date: 26th May 2026 Dividend yield will be 9.5%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (133% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 01
First quarter 2026 earnings released: CA$0.03 loss per share (vs CA$0.26 profit in 1Q 2025) First quarter 2026 results: CA$0.03 loss per share (down from CA$0.26 profit in 1Q 2025). Revenue: CA$1.85m (down 92% from 1Q 2025). Net loss: CA$1.36m (down 110% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CA$3.86, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 12x in the Energy Services industry in Canada. Total returns to shareholders of 243% over the past three years. Upcoming Dividend • Mar 12
Upcoming dividend of CA$0.12 per share Eligible shareholders must have bought the stock before 19 March 2026. Payment date: 26 March 2026. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 9.4%. Within top quartile of Canadian dividend payers (5.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: CA$0.46 (vs CA$0.066 in FY 2024) Full year 2025 results: EPS: CA$0.46 (up from CA$0.066 in FY 2024). Revenue: CA$51.1m (up 119% from FY 2024). Net income: CA$23.1m (up CA$19.7m from FY 2024). Profit margin: 45% (up from 14% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Feb 23
Pulse Seismic Inc., Annual General Meeting, Apr 29, 2026 Pulse Seismic Inc., Annual General Meeting, Apr 29, 2026. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CA$3.25, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 12x in the Energy Services industry in Canada. Total returns to shareholders of 176% over the past three years. New Risk • Nov 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$140.6m (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (CA$140.6m market cap, or US$99.7m). Reported Earnings • Oct 28
Third quarter 2025 earnings released: CA$0.03 loss per share (vs CA$0.028 loss in 3Q 2024) Third quarter 2025 results: CA$0.03 loss per share (further deteriorated from CA$0.028 loss in 3Q 2024). Revenue: CA$3.42m (up 25% from 3Q 2024). Net loss: CA$1.50m (loss widened 6.8% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Oct 28
Pulse Seismic Inc. Declares Quarterly Cash Dividend, Payable on November 20, 2025 The Board of Directors of Pulse Seismic Inc. declared a regular quarterly dividend of $0.0175 per common share. The total dividend declared will be approximately $888,000 based on Pulse’s 50,755,057 common shares outstanding as of October 27, 2025, to be paid on November 20, 2025, to shareholders of record on November 13, 2025. Declared Dividend • Jul 27
Second quarter dividend of CA$0.22 announced Shareholders will receive a dividend of CA$0.22. Ex-date: 13th August 2025 Payment date: 20th August 2025 Dividend yield will be 13%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by both earnings (14% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 34% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 23
Second quarter 2025 earnings released: EPS: CA$0.19 (vs CA$0.026 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.19 (up from CA$0.026 in 2Q 2024). Revenue: CA$18.3m (up 191% from 2Q 2024). Net income: CA$9.57m (up CA$8.22m from 2Q 2024). Profit margin: 52% (up from 21% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CA$3.57, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 11x in the Energy Services industry in Canada. Total returns to shareholders of 141% over the past three years. Announcement • Jun 13
Pulse Seismic Inc. to Report Q2, 2025 Results on Jul 22, 2025 Pulse Seismic Inc. announced that they will report Q2, 2025 results After-Market on Jul 22, 2025 Declared Dividend • Apr 25
First quarter dividend of CA$0.018 announced Shareholders will receive a dividend of CA$0.018. Ex-date: 12th May 2025 Payment date: 20th May 2025 Dividend yield will be 13%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by both earnings (22% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 33% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 23
First quarter 2025 earnings released: EPS: CA$0.26 (vs CA$0.051 in 1Q 2024) First quarter 2025 results: EPS: CA$0.26 (up from CA$0.051 in 1Q 2024). Revenue: CA$22.8m (up 159% from 1Q 2024). Net income: CA$13.4m (up 399% from 1Q 2024). Profit margin: 59% (up from 31% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Apr 23
Pulse Seismic Inc. Increases Regular Quarterly Dividend, Payable on May 20, 2025 Pulse Seismic Inc. Board of Directors approved a 17% increase to the regular quarterly dividend, declaring a dividend of $0.0175 per share. This results in an increase to the annual regular dividend from $0.06 per share to $0.07 per share. The total dividend declared will be approximately $889,000 based on Pulse’s 50,794,563 common shares outstanding as of April 22, 2025, to be paid on May 20, 2025, to shareholders of record on May 12, 2025. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Pulse’s dividends are subject to Canadian withholding tax. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CA$2.30, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 9x in the Energy Services industry in Canada. Total returns to shareholders of 39% over the past three years. Declared Dividend • Feb 18
Fourth quarter dividend of CA$0.21 announced Shareholders will receive a dividend of CA$0.21. Ex-date: 28th February 2025 Payment date: 13th March 2025 Dividend yield will be 12%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 34% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend. Announcement • Feb 17
Pulse Seismic Inc., Annual General Meeting, Apr 23, 2025 Pulse Seismic Inc., Annual General Meeting, Apr 23, 2025. Location: alberta, calgary Canada New Risk • Feb 14
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 15% Last year net profit margin: 38% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (15% net profit margin). Market cap is less than US$100m (CA$127.1m market cap, or US$89.7m). Reported Earnings • Feb 14
Full year 2024 earnings released: EPS: CA$0.07 (vs CA$0.28 in FY 2023) Full year 2024 results: EPS: CA$0.07 (down from CA$0.28 in FY 2023). Revenue: CA$23.4m (down 40% from FY 2023). Net income: CA$3.39m (down 77% from FY 2023). Profit margin: 14% (down from 38% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Jan 30
Pulse Seismic Inc. Provides Revenue Guidance for the Year 2024 and 2025 Pulse Seismic Inc. announced Since October 1, 2024, the Company has licensed $21.7 million of data. Of this amount, $5.6 million was licensed in the fourth quarter of 2024, bringing expected total revenue for 2024 to $23.4 million.
For 2025, including the deal announced, total licensing revenue is $16.1 million. Upcoming Dividend • Nov 10
Upcoming dividend of CA$0.015 per share Eligible shareholders must have bought the stock before 14 November 2024. Payment date: 28 November 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Canadian dividend payers (6.1%). Higher than average of industry peers (2.1%). Declared Dividend • Oct 27
Dividend of CA$0.015 announced Shareholders will receive a dividend of CA$0.015. Ex-date: 14th November 2024 Payment date: 28th November 2024 Dividend yield will be 13%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 38% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 23
Third quarter 2024 earnings released: CA$0.03 loss per share (vs CA$0.007 profit in 3Q 2023) Third quarter 2024 results: CA$0.03 loss per share (down from CA$0.007 profit in 3Q 2023). Revenue: CA$2.73m (down 47% from 3Q 2023). Net loss: CA$1.41m (down 458% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Oct 23
Pulse Seismic Inc. Approves Regular Quarterly Dividend, Payable on November 28, 2024 The Board of Directors of Pulse Seismic Inc. approved a regular quarterly dividend of $0.015 per common share. The total dividend will be approximately $764,000 based on Pulse's 50,904,663 common shares outstanding as of October 22, 2024, and will be paid on November 28, 2024, to shareholders of record on November 14, 2024. Upcoming Dividend • Aug 09
Upcoming dividend of CA$0.065 per share Eligible shareholders must have bought the stock before 14 August 2024. Payment date: 21 August 2024. Payout ratio is a comfortable 23% and the cash payout ratio is 81%. Trailing yield: 2.4%. Lower than top quartile of Canadian dividend payers (6.4%). Lower than average of industry peers (2.7%). Declared Dividend • Jul 26
Dividend of CA$0.065 announced Shareholders will receive a dividend of CA$0.065. Ex-date: 14th August 2024 Payment date: 21st August 2024 Dividend yield will be 13%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 134% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 24
Second quarter 2024 earnings released: EPS: CA$0.03 (vs CA$0.063 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.03 (down from CA$0.063 in 2Q 2023). Revenue: CA$6.30m (down 28% from 2Q 2023). Net income: CA$1.34m (down 61% from 2Q 2023). Profit margin: 21% (down from 39% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Jun 08
Ravenswood Investments III, L.P., managed by Ravenswood Management Company LLC completed the acquisition of an additional 4.53636% stake in Pulse Seismic Inc. (TSX:PSD) from EdgePoint Investment Group Inc. for CAD 5.6 million. Ravenswood Investments III, L.P., managed by Ravenswood Management Company LLC acquired an additional 4.53636% stake in Pulse Seismic Inc. (TSX:PSD) from EdgePoint Investment Group Inc. for CAD 5.6 million on June 6, 2024. Ravenswood acquired 2,358,660 common shares at a price of CAD 2.38 per common share. The Purchased Shares represent approximately 4.5% of the outstanding common shares in the capital of the Company (the "Common Shares") as of the date of the Transaction. Immediately prior to the Transaction, the Ravenswood Funds owned 8,745,423 Common Shares, representing approximately 16.8% of the Common Shares outstanding as of the date of Transaction. Following the Transaction, the Ravenswood Funds beneficial owns or exercise control or direction over 11,104,083 Common Shares, representing approximately 21.3% of the Common Shares outstanding as of the date of Transaction.
Ravenswood Investments III, L.P., managed by Ravenswood Management Company LLC completed the acquisition of an additional 4.53636% stake in Pulse Seismic Inc. (TSX:PSD) from EdgePoint Investment Group Inc. on June 6, 2024. Declared Dividend • Apr 28
Dividend of CA$0.015 announced Shareholders will receive a dividend of CA$0.015. Ex-date: 13th May 2024 Payment date: 23rd May 2024 Dividend yield will be 18%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 39% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: CA$0.05 (vs CA$0.054 in 1Q 2023) First quarter 2024 results: EPS: CA$0.05 (down from CA$0.054 in 1Q 2023). Revenue: CA$8.78m (up 4.4% from 1Q 2023). Net income: CA$2.68m (down 7.8% from 1Q 2023). Profit margin: 31% (down from 35% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Apr 25
Pulse Seismic Inc. Increases Regular Quarterly Dividend, Payable on May 23, 2024 Pulse’s Board of Directors approved a 9% increase to the regular dividend and declared a regular quarterly dividend of $0.015 per share. This increase results in an annualized regular dividend of $0.06 per share. The total of the dividend will be approximately $780,000 based on Pulse’s 51,994,563 common shares outstanding as of April 24, 2024, and will be paid on May 23, 2024, to shareholders of record on May 14, 2024. Upcoming Dividend • Feb 22
Upcoming dividend of CA$0.014 per share Eligible shareholders must have bought the stock before 29 February 2024. Payment date: 11 March 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Canadian dividend payers (6.4%). Lower than average of industry peers (3.1%). Announcement • Feb 17
Pulse Seismic Inc., Annual General Meeting, Apr 25, 2024 Pulse Seismic Inc., Annual General Meeting, Apr 25, 2024. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: CA$0.28 (vs CA$0.15 loss in FY 2022) Full year 2023 results: EPS: CA$0.28 (up from CA$0.15 loss in FY 2022). Revenue: CA$39.1m (up 309% from FY 2022). Net income: CA$15.0m (up CA$22.9m from FY 2022). Profit margin: 38% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 16
Pulse Seismic Inc. Declares Dividend, Payable on March 11, 2024 Pulse’s Board of Directors approved a quarterly dividend of $0.01375 per share. The total of the regular dividend will be approximately $715,000 based on Pulse’s 52,003,063 common shares outstanding as of February 15, 2024, to be paid on March 11, 2024, to shareholders of record on March 1, 2024. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CA$2.08, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 7x in the Energy Services industry in Canada. Total returns to shareholders of 128% over the past three years. Announcement • Dec 07
Pulse Seismic Inc. Declares Special Dividend, Payable on January 8, 2024 Pulse Seismic Inc. has declared a special dividend of $0.20 per common share. The special dividend, totaling approximately $10.5 million based on Pulse’s 52,637,463 common shares outstanding as of December 6, 2023, will be paid on January 8, 2024, to shareholders of record on December 21, 2023. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Pulse’s dividends are subject to Canadian withholding tax. Upcoming Dividend • Nov 03
Upcoming dividend of CA$0.014 per share at 3.2% yield Eligible shareholders must have bought the stock before 10 November 2023. Payment date: 21 November 2023. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Canadian dividend payers (6.8%). Lower than average of industry peers (3.6%). Reported Earnings • Oct 25
Third quarter 2023 earnings released: EPS: CA$0.01 (vs CA$0.031 loss in 3Q 2022) Third quarter 2023 results: EPS: CA$0.01 (up from CA$0.031 loss in 3Q 2022). Revenue: CA$5.10m (up 134% from 3Q 2022). Net income: CA$393.0k (up CA$2.07m from 3Q 2022). Profit margin: 7.7% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 25
Pulse Seismic Inc. Approves Regular Quarterly Dividend, Payable on November 21, 2023 Pulse Seismic Inc. approved a regular quarterly dividend of $0.01375 per share ($0.055 per share annualized) totaling approximately $724,000 based on Pulse’s 52,659,363 common shares outstanding as of October 24, 2023, which will be paid on November 21, 2023 to shareholders of record on November 14, 2023. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Pulse’s dividends are subject to Canadian withholding tax. Upcoming Dividend • Aug 04
Upcoming dividend of CA$0.16 per share at 2.7% yield Eligible shareholders must have bought the stock before 11 August 2023. Payment date: 22 August 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.7%. Lower than top quartile of Canadian dividend payers (6.2%). Lower than average of industry peers (3.5%). Reported Earnings • Jul 26
Second quarter 2023 earnings released: EPS: CA$0.06 (vs CA$0.033 loss in 2Q 2022) Second quarter 2023 results: EPS: CA$0.06 (up from CA$0.033 loss in 2Q 2022). Revenue: CA$8.76m (up 183% from 2Q 2022). Net income: CA$3.40m (up CA$5.17m from 2Q 2022). Profit margin: 39% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 29% per year. Announcement • Jul 06
Pulse Seismic Inc. to Report Q2, 2023 Results on Jul 25, 2023 Pulse Seismic Inc. announced that they will report Q2, 2023 results on Jul 25, 2023 Upcoming Dividend • May 08
Upcoming dividend of CA$0.014 per share at 3.0% yield Eligible shareholders must have bought the stock before 15 May 2023. Payment date: 24 May 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Canadian dividend payers (6.2%). Lower than average of industry peers (4.0%). Announcement • May 06
Pulse Seismic Inc. Appoints Patrick Ward as Director Pulse Seismic Inc. appointed Patrick Ward as director at its annual meeting held on May 3, 2023. Reported Earnings • May 03
First quarter 2023 earnings released: EPS: CA$0.05 (vs CA$0.047 loss in 1Q 2022) First quarter 2023 results: EPS: CA$0.05 (up from CA$0.047 loss in 1Q 2022). Revenue: CA$8.41m (up 353% from 1Q 2022). Net income: CA$2.91m (up CA$5.43m from 1Q 2022). Profit margin: 35% (up from net loss in 1Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, while revenues in the Energy Services industry in Canada are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 34% per year. Recent Insider Transactions Derivative • Apr 08
President exercised options to buy CA$74k worth of stock. On the 31st of March, Neal Coleman exercised options to buy 43k shares at a strike price of around CA$1.72, costing a total of CA$75k. This transaction amounted to 12% of their direct individual holding at the time of the trade. Neal currently holds less than 1% of total shares outstanding. Company insiders have collectively bought CA$230k more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Mar 03
Upcoming dividend of CA$0.013 per share at 2.9% yield Eligible shareholders must have bought the stock before 10 March 2023. Payment date: 20 March 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Canadian dividend payers (6.0%). Lower than average of industry peers (3.3%). Reported Earnings • Feb 18
Full year 2022 earnings released: CA$0.15 loss per share (vs CA$0.40 profit in FY 2021) Full year 2022 results: CA$0.15 loss per share (down from CA$0.40 profit in FY 2021). Revenue: CA$9.57m (down 81% from FY 2021). Net loss: CA$7.91m (down 137% from profit in FY 2021). Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Feb 17
Pulse Seismic Inc. Declares Quarterly Dividend, Payable on March 20, 2023 Pulse Seismic Inc.’s Board of Directors approved a quarterly dividend of $0.0125 per share. The total of the regular dividend will be approximately $670,000 based on Pulse’s 53,618,469 common shares outstanding as of February 16, 2023, to be paid on March 20, 2023 to shareholders of record on March 13, 2023. Price Target Changed • Nov 16
Price target decreased to CA$2.00 Down from CA$2.60, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of CA$1.93. Stock is down 20% over the past year. The company posted earnings per share of CA$0.40 last year. Upcoming Dividend • Nov 03
Upcoming dividend of CA$0.013 per share Eligible shareholders must have bought the stock before 10 November 2022. Payment date: 22 November 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.7%. Lower than top quartile of Canadian dividend payers (6.0%). Higher than average of industry peers (1.8%). Price Target Changed • Oct 27
Price target decreased to CA$2.00 Down from CA$2.70, the current price target is provided by 1 analyst. New target price is 8.1% above last closing price of CA$1.85. Stock is down 5.6% over the past year. The company posted earnings per share of CA$0.40 last year. Reported Earnings • Oct 26
Third quarter 2022 earnings released: CA$0.031 loss per share (vs CA$0.059 profit in 3Q 2021) Third quarter 2022 results: CA$0.031 loss per share (down from CA$0.059 profit in 3Q 2021). Revenue: CA$2.18m (down 76% from 3Q 2021). Net loss: CA$1.68m (down 153% from profit in 3Q 2021). Revenue is forecast to stay flat during the next 2 years compared to a 7.1% growth forecast for the Energy Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Oct 26
Pulse Seismic Inc. Approves Quarterly Dividend, Payable on November 22, 2022 Pulse Seismic Inc.’s Board of Directors approved a quarterly dividend of $0.0125 per share. The total of the regular dividend will be approximately $670,000 based on Pulse’s 53,634,317 common shares outstanding as of October 25, 2022, to be paid on November 22, 2022 to shareholders of record on November 14, 2022. Upcoming Dividend • Aug 05
Upcoming dividend of CA$0.013 per share Eligible shareholders must have bought the stock before 12 August 2022. Payment date: 23 August 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Canadian dividend payers (5.3%). Higher than average of industry peers (2.0%). Reported Earnings • Jul 22
Second quarter 2022 earnings released: CA$0.033 loss per share (vs CA$0.19 profit in 2Q 2021) Second quarter 2022 results: CA$0.033 loss per share (down from CA$0.19 profit in 2Q 2021). Revenue: CA$3.10m (down 84% from 2Q 2021). Net loss: CA$1.77m (down 117% from profit in 2Q 2021). Over the next year, revenue is expected to shrink by 22% compared to a 16% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jul 21
Pulse Seismic Inc. Approves Quarterly Dividend, Payable on August 23, 2022 Pulse Seismic Inc.’s Board of Directors approved a quarterly dividend of $0.0125 per share. The total of the regular dividend will be approximately $672,000 based on Pulse’s 53,720,317 common shares outstanding as of July 20, 2022, to be paid on August 23, 2022 to shareholders of record on August 15, 2022. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Pulse’s dividends are subject to Canadian withholding tax. Upcoming Dividend • May 06
Upcoming dividend of CA$0.013 per share Eligible shareholders must have bought the stock before 13 May 2022. Payment date: 24 May 2022. Payout ratio is a comfortable 7.1% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Canadian dividend payers (4.9%). Higher than average of industry peers (1.7%). Reported Earnings • Apr 21
First quarter 2022 earnings released: CA$50.00 loss per share (vs CA$0.001 profit in 1Q 2021) First quarter 2022 results: CA$50.00 loss per share (down from CA$0.001 profit in 1Q 2021). Revenue: CA$1.86m (down 62% from 1Q 2021). Net loss: CA$2.52m (down CA$2.55m from profit in 1Q 2021). Over the next year, revenue is expected to shrink by 50% compared to a 19% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Apr 21
Pulse Seismic Inc. Approves Quarterly Dividend, Payable on May 24, 2022 The Board of Directors of Pulse Seismic Inc. approved a quarterly dividend of $0.0125 per share. The total of the regular dividend will be approximately $672,000 based on Pulse’s 53,733,117 common shares outstanding as of April 20, 2022, to be paid on May 24, 2022 to shareholders of record on May 16, 2022. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Pulse’s dividends are subject to Canadian withholding tax. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improved over the past week After last week's 18% share price gain to CA$2.72, the stock trades at a trailing P/E ratio of 6.8x. Average forward P/E is 16x in the Energy Services industry in Canada. Total returns to shareholders of 14% over the past three years. Recent Insider Transactions Derivative • Apr 07
President exercised options to buy CA$54k worth of stock. On the 31st of March, Neal Coleman exercised options to buy 23k shares at a strike price of around CA$2.26, costing a total of CA$52k. This transaction amounted to 6.5% of their direct individual holding at the time of the trade. Neal currently holds less than 1% of total shares outstanding. Company insiders have collectively bought CA$195k more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Mar 04
Upcoming dividend of CA$0.013 per share Eligible shareholders must have bought the stock before 11 March 2022. Payment date: 21 March 2022. Payout ratio is a comfortable 3.1% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Canadian dividend payers (4.8%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 20
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CA$0.40 (up from CA$0.13 loss in FY 2020). Revenue: CA$49.2m (up 333% from FY 2020). Net income: CA$21.5m (up CA$28.3m from FY 2020). Profit margin: 44% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 59% compared to a 15% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improved over the past week After last week's 20% share price gain to CA$2.25, the stock trades at a trailing P/E ratio of 8.9x. Average forward P/E is 17x in the Energy Services industry in Canada. Total loss to shareholders of 1.3% over the past three years. Upcoming Dividend • Nov 03
Upcoming dividend of CA$0.052 per share Eligible shareholders must have bought the stock before 10 November 2021. Payment date: 29 November 2021. Trailing yield: 2.7%. Lower than top quartile of Canadian dividend payers (4.5%). Higher than average of industry peers (1.5%). Price Target Changed • Oct 30
Price target increased to CA$2.70 Up from CA$2.40, the current price target is provided by 1 analyst. New target price is 34% above last closing price of CA$2.02. Stock is up 132% over the past year. The company posted a net loss per share of CA$0.13 last year. Reported Earnings • Oct 30
Third quarter 2021 earnings released: EPS CA$0.06 (vs CA$0.036 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CA$8.93m (up 369% from 3Q 2020). Net income: CA$3.16m (up CA$5.10m from 3Q 2020). Profit margin: 35% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 24
Second quarter 2021 earnings released: EPS CA$0.19 (vs CA$0.043 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$19.1m (up CA$17.1m from 2Q 2020). Net income: CA$10.2m (up CA$12.5m from 2Q 2020). Profit margin: 53% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Price Target Changed • Jul 22
Price target increased to CA$2.50 Up from CA$2.30, the current price target is provided by 1 analyst. New target price is 28% above last closing price of CA$1.95. Stock is up 117% over the past year. Executive Departure • Apr 27
Independent Director has left the company On the 22nd of April, Karen El-Tawil's tenure as Independent Director ended after 6.9 years in the role. We don't have any record of a personal shareholding under Karen's name. Karen is the only executive to leave the company over the last 12 months. Price Target Changed • Apr 26
Price target increased to CA$2.00 Up from CA$1.80, the current price target is provided by 1 analyst. New target price is 5.3% above last closing price of CA$1.90. Stock is up 94% over the past year. Announcement • Apr 24
Pulse Seismic Inc. Provides Revenue Update for Second Quarter of 2021 Pulse Seismic Inc. provided revenue update for second quarter of 2021. The company revenue update for second quarter of 2021 year to date revenue is $8.6 million, including $3.8 million closed this month. Reported Earnings • Apr 24
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CA$4.83m (up 112% from 1Q 2020). Net income: CA$33.0k (up CA$2.86m from 1Q 2020). Profit margin: 0.7% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance.