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The S&P/TSX Composite index fell 100 points on Wednesday, indicating a decline in the performance of some of the biggest Canadian stocks. The index tracks the performance of the largest companies listed on the TSX, making it a universal metric to gauge the performance of the Canadian stock market.
- The S&P/TSX Composite index fell 100 points on Wednesday, July 5, 2023, indicating a decline in the performance of some of the biggest Canadian stocks.
- Pulse Seismic, a provider of seismic data, reported a total revenue of CA$ 8.407 million for the March 2023 quarter.
- Source Energy Services, a producer and supplier of Northern White franc sand, realized its highest quarterly sand sales in its history of 907,483 MT.
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The decline in the index came as the US stock markets also displayed a downturn. With that in the backdrop, here are two stocks that have shown financial growth in their quarterly earnings. These stocks can be interesting to watch in July 2023.
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Pulse Seismic Inc. (TSX: PSD)
Pulse Seismic provides the western Canadian energy sector with seismic data. It acquires, markets and licenses 2D and 3D seismic data for the energy sector.For the March 2023 quarter, Pulse Seismic reported a total revenue of CA$ 8.407 million, marking a massive jump over the previous corresponding quarter’s total revenue of CA$1.85 million. The EBITDA for Q1 2023 was CA$ 6.61 million, compared to an EBITDA of CA$ 9000.
The company stated that its key strengths include zero debt, low-cost structure, strong customer relations, among many others.
Image source: ©2023 Kalkine®; Data source: Company Reports
Alongside these revenues, Pulse Seismic also announced a 10% increase in its dividend to CA$ 0.01375 per share.
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Source Energy Services Ltd. (TSX: SHLE)
Source Energy produces and supplies Northern White franc sand. It also provides customers with end-to-end solutions for franc sand which is assisted by its Wisconsin mines and processing facilities.For Q1 2023, Source Energy realized sand sales of 907,483 MT, which is the company’s highest quarterly sand sales volume in its history. The total revenue for the quarter was CA$ 163.7 million, which was 69% higher than the first quarter of 2022.
Image source: ©2023 Kalkine®; Data source: Company Reports
The company reported a net income of CA$ 7.9 million, which was CA$ 14.5 million higher from the net loss incurred by Source Energy in Q1 2022. The company also reported an adjusted EBITDA of CA$ 27.6 million, which was 94% higher than in the previous corresponding period.