# Source Energy Services Posts 50% Revenue Rise as Sand Volumes Climb 55% in Q3

> 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.

- Published: 2026-11-06T01:32:30+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-06/source-energy-services-q3-revenue-sand-volumes
- Source: [TradingView](https://www.tradingview.com/news/acceswire:0492e6211094b:0-source-energy-services-reports-q3-2026-results/)

## 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.

[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.

## Source's Q3 Sand and Logistics Results

Sand 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.

The 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.

Average 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.

## Source's Record 2025 and Trucking Acquisition

According 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.

## Source's Path From Q2 Decline to Q3 Growth

Source 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.

## Source's November 6 Conference Call

Source 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.

## Companies in this story

- [Source Energy Services company profile](https://akta.pro/company-profiles/00047vt/source-energy-services) · website: http://sourceenergyservices.com

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