High Arctic Announces 2026 Third Quarter Results
Key Highlights
- ➤Q3 revenue $4.676 million, up 60% from Q3 2025
- ➤Q3 adjusted EBITDA $1.429 million, or 31% of revenue
- ➤Q3 net income $1.034 million, versus $931,000 in Q3 2025
- ➤YTD net income $1.892 million, up from $516,000 in YTD-2025
- ➤2027 strategic capital expenditures and headcount additions planned
Expert Statements
Lonn Bate, Interim Chief Executive Officer of High Arctic Energy Services Inc.
“High Arctic delivered excellent financial and operational performance in the third quarter of 2026, reflecting strong customer activity and disciplined execution by our Rental Services business. Revenue increased 60% quarter over quarter to $4.7 million, Adjusted EBITDA increased to $1.4 million, representing 31% of revenue, and net income surpassed $1.0 million in the quarter. These excellent results were achieved with a significant effort from our valued staff who consistently delivered quality service while meeting our high level of safety standards for our customers.”
Lonn Bate, Interim Chief Executive Officer of High Arctic Energy Services Inc.
“Team Snubbing also delivered consistent operational performance during the quarter. Steady customer demand in Alaska, continued North Slope activity and developing opportunities in Canada supported a 21% increase in Team’s quarterly revenue, while Team made some meaningful investments in relation to new work awarded in the quarter that will strengthen its platform for future growth.”
Lonn Bate, Interim Chief Executive Officer of High Arctic Energy Services Inc.
“The strong demand for our service offerings witnessed in Q3 2026 has continued into the fourth quarter of 2026, setting High Arctic up for a strong exit to what has been a busy year.”
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CALGARY, Alberta, Nov. 13, 2026 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its third quarter 2026 financial and operating results. The unaudited condensed interim consolidated financial statements (the “Financial Statements”) and management discussion & analysis (“MD&A”) for the three and nine months ended September 30, 2026 will be available on SEDAR+ at www.sedarplus.ca, and on High Arctic’s website at www.haes.ca.
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