Tidewater Renewables (TSE:LCFS) Announces Quarterly Earnings Results

Tidewater Renewables (TSE:LCFS) announced its earnings results on Thursday. The company reported C($0.43) EPS for the quarter, FiscalAI reports. Tidewater Renewables had a net margin of 0.09% and a return on equity of 0.20%. The company had revenue of C$239.90 million for the quarter.

Here are the key takeaways from Tidewater Renewables’ conference call:

• Record operating and financial performance: Tidewater reported Q3 adjusted EBITDA of CAD 96.9 million, supported by record renewable-diesel throughput at 114% of design capacity and stronger refinery margins.
• Higher guidance and lower leverage: The company raised 2026 adjusted EBITDA guidance to CAD 300–320 million and cut capital-spending guidance to CAD 15–20 million. Net debt fell CAD 139 million in the first nine months, bringing leverage to 1.3x.
• Potential regulatory upside: If proposed Clean Fuel Regulations amendments are finalized as drafted, Tidewater estimates CAD 30–40 million of additional 2027 EBITDA from credits tied to 2026 production, plus CAD 40–50 million from expected 2027 production. These estimates depend on the rules, credit prices, and production assumptions.
• Proposed combination could deliver synergies: Tidewater Midstream plans to acquire the remaining Tidewater Renewables shares, with CAD 30–40 million of estimated NPV synergies and expected modest, positive accretion for Midstream shareholders in 2028. The deal is subject to closing conditions and shareholder approvals.
• SAF project decision pushed back: Tidewater extended its target for a potential final investment decision to the first half of 2027, citing regulatory uncertainty and the need to advance offtake agreements and financing.

Tidewater Renewables Price Performance

Shares of TSE:LCFS traded up C$0.44 during trading on Friday, reaching C$23.22. The stock had a trading volume of 15,134 shares, compared to its average volume of 22,118. Tidewater Renewables has a 52 week low of C$3.39 and a 52 week high of C$25.80. The stock has a market capitalization of C$848.37 million, a PE ratio of 94.05 and a beta of -1.57. The company has a debt-to-equity ratio of 109.35, a current ratio of 1.13 and a quick ratio of 0.10. The business’s 50-day moving average price is C$21.34 and its 200 day moving average price is C$13.50.

Wall Street Analyst Weigh In

LCFS has been the topic of several recent analyst reports. National Bank Financial upped their price target on shares of Tidewater Renewables from C$13.25 to C$22.75 and gave the company an “outperform” rating in a report on Friday, August 14th. Royal Bank Of Canada upgraded shares of Tidewater Renewables from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$12.50 to C$25.00 in a research report on Friday, August 14th. Finally, ATB Cormark Capital Markets raised their target price on shares of Tidewater Renewables from C$19.00 to C$21.00 and gave the company a “speculative buy” rating in a research note on Friday, October 23rd. Three investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, Tidewater Renewables has a consensus rating of “Buy” and an average price target of C$22.92.

Tidewater Renewables Company Profile

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.