{"url":"https://newsforagent.com/news/2026-11-06/source-energy-services-q3-revenue-sand-volumes","markdown_url":"https://newsforagent.com/news/2026-11-06/source-energy-services-q3-revenue-sand-volumes.md","title":"Source Energy Services Q3 Revenue Jumps 50% to $188 Million","headline":"Source Energy Services Posts 50% Revenue Rise as Sand Volumes Climb 55% in Q3","description":"Source Energy Services lifted Q3 revenue 50% to $188.0 million on 1,027,659 metric tonnes of sand and signed a contract for a twelfth Sahara unit in Alaska.","section":"Earnings & Results","published_at":"2026-11-06T01:32:30+00:00","modified_at":"2026-11-06T01:32:30+00:00","author":"News Desk","key_takeaways":["Source Energy Services reported Q3 2026 revenue of $188.0 million, up 50% from a year earlier.","Sand sales volumes rose 55% to 1,027,659 metric tonnes in the quarter.","The company executed a contract to build and operate a twelfth Sahara unit in Alaska, with construction costs fully reimbursed by the customer."],"companies":[{"name":"Source Energy Services","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00047vt/source-energy-services","website":"http://sourceenergyservices.com"}],"source":{"publisher":"TradingView","title":"Source Energy Services Reports Q3 2026 Results","url":"https://www.tradingview.com/news/acceswire:0492e6211094b:0-source-energy-services-reports-q3-2026-results/"},"other_sources":[],"tags":["Earnings & Results","Source Energy Services"],"body_markdown":"[Source Energy Services](https://akta.pro/company-profiles/00047vt/source-energy-services) reported third-quarter 2026 revenue of $188.0 million, up 50% from a year earlier, as sand sales volumes rose 55% to 1,027,659 metric tonnes, [TradingView](https://www.tradingview.com/news/acceswire:0492e6211094b:0-source-energy-services-reports-q3-2026-results/) reported. The Calgary-based company supplies frac sand and last-mile logistics to oil and gas operators in the Western Canadian Sedimentary Basin.\n\n## Source's Q3 Sand and Logistics Results\n\nSand revenue reached $143.8 million, a 43% increase, and well site solutions revenue was $43.0 million. Adjusted EBITDA rose 32% to $26.9 million, a $6.6 million increase from the same period in 2025. Net loss narrowed to $3.8 million from $6.2 million.\n\nThe company said customer activity increased during the quarter, driven by planned completion activities in the back half of 2026. Source achieved 67% utilization across its eleven-unit Sahara fleet, with operating units in the United States at 100% utilization. Source also executed a contract to build and operate a twelfth Sahara unit in Alaska, with construction costs fully reimbursed by the customer.\n\nAverage sand revenue per metric tonne was $139.97, down from $150.77 a year earlier. Source attributed the decline to a 90% increase in domestic dry and wet sand sales and a higher proportion of lower-priced mine gate sales. The company said it incurred additional one-time costs from the rapid ramp-up at its Peace River operation and plans to debottleneck and optimize the facilities before next year's wash season.\n\n## Source's Record 2025 and Trucking Acquisition\n\nAccording to akta.pro [company records](https://akta.pro/company-data), Source recorded full-year 2025 sand sales of approximately 3.7 million metric tons and record revenue of CAD $700.3 million, a $26.4 million increase over 2024. The records show the company acquired RWR Trucking Inc.'s sand trucking assets on March 13, 2024, including 27 tractors and 52 trailers, to internalize last-mile wellsite delivery.\n\n## Source's Path From Q2 Decline to Q3 Growth\n\nSource reported a 24% decline in sand sales volumes to 831,234 metric tonnes and a 32% decrease in total revenue to $137.1 million for Q2 2026 compared with Q2 2025, according to Yahoo. MarketBeat reported that the quarter's adjusted EBITDA was C$18.5 million, down C$16.7 million year-over-year. On October 5, 2026, Yahoo said Source would release its third-quarter results after the Toronto Stock Exchange close on November 5, 2026.\n\n## Source's November 6 Conference Call\n\nSource scheduled a conference call to discuss the results for 7:30 am Alberta Time on Friday, November 6, 2026. A recording will be available for playback until December 6, 2026.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}