Shatters Records in Q3 / Anticipating a Strong Finish to the Year

Published: 11/15/2023

Author: Sid Rajeev, B.Tech, CFA, MBA

Shatters Records in Q3 / Anticipating a Strong Finish to the Year - Main Image

*See important disclosures at the bottom of this report

Sector: Energy | Industry: Oil & Gas Equipment & Services

Ticker Symbols:

E.TO - TSX 🔹

ETOLF - NASDAQ 🔹

Rating and Key Data

Metrics	Value
Current Price	US $0.68
Fair Value	US $1.26
Risk	3
Week Range	US $0.36-0.75
Shares O/S (M)	50
Market Cap. (M)	US $34
Current Yield (%)	n/a
P/E (forward)	6.1
P/B	0.9

Highlights

In Q3-2023, Enterprise posted record revenue, and EPS. Revenue was up 61% YoY, beating our estimate by 12%. For comparison, H1-2023 revenue was up 20% YoY.

Gross margins improved YoY by 16 ppt, and was 3 ppt higher than our estimate.

Rating and Key Data

Metrics	Value
Current Price	US $0.68
Fair Value	US $1.26
Risk	3
Week Range	US $0.36-0.75
Shares O/S (M)	50
Market Cap. (M)	US $34
Current Yield (%)	n/a
P/E (forward)	6.1
P/B	0.9

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