Globe & Mail Stocks to Watch That's 25% over previous estimates for revenue and potentially a near double for EBITDA. GLTA
Step Energy Services Ltd. updated its second-quarter guidance, estimating revenue to range between $250-million and $265-million. “For context, estimated top-line revenue in the current quarter may be on track to be the highest in the company’s history,” it stated. The estimate is above expectations of $203.6-million for the quarter ended June 30, according to S&P Capital IQ.
Adjusted EBITDA is expected to range between $42-million to $50-million the company stated. The expectation is for adjusted EBITDA of $25.6-million.
The estimates compare to $107.5-million in revenue and $11.7-million of adjusted EBITDA ($10.6-million net loss) generated for the second quarter last year, the company stated.