Topaz Energy reports after the market closes on November 2. One analyst expects EPS of C$0.25 and revenue of C$108 million. Those estimates are well above last year’s results, but Topaz has missed earnings estimates in its two most recent quarters.
Topaz Energy Corp. (TSX: TPZ) is set to report results for the quarter ended September 30, 2026. The available calendar consensus is C$0.25 per share and C$108 million in revenue, with one analyst behind each estimate. That implies year-over-year growth of 240% in EPS and 41.3% in revenue, compared with EPS of C$0.07 a year ago. The estimates offer a limited view of expectations, since each is based on just one analyst. Follow the company on the Topaz Energy stock page.
Recent earnings trend
Topaz Energy Corp
TPZ.TO
TPZ.TO
Topaz Energy Corp
WealthAwesomeMarket cap
$4.81B
P/E
27.9x
Div. yield
4.47%
Div. / share
$1.37
52W high
$33.17
52W low
$23.44
1W change
+3.31%
Beta
0.61
Analyst Price Targets
Based on analyst covering TPZ · as of Oct 30, 2026
Wall Street analysts forecast TPZ stock price to rise 16.2% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$36.32
+16.2% Upside
Previously C$36.35 on Oct 23, 2026
Current Price
C$31.25
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on TPZ's historical volatility
30-Day Vol
21.8%
Annualized
90-Day Vol
22.6%
Annualized
Trend (90d)
+5.0%
Annualized drift
90d Mean
C$31.82
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$31.44 | C$29.16 – C$33.89 |
| 60 trading days | C$31.63 | C$28.44 – C$35.17 |
| 90 trading days | C$31.82 | C$27.94 – C$36.24 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 2 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-02 | — | 0.2900 | — |
| 2026-06-30 | 2026-07-26 | 0.2900 | 0.3500 | -17.1% |
| 2026-03-31 | 2026-05-05 | 0.2500 | 0.3900 | -35.9% |
| 2025-12-31 | 2026-02-24 | 0.2100 | 0.1100 | +90.9% |
| 2025-09-30 | 2025-11-03 | 0.1000 | 0.0700 | +42.9% |
| 2025-06-30 | 2025-07-28 | 0.0800 | 0.1100 | -27.3% |
Investor takeaway: The report will show whether Topaz’s royalty production growth and higher 2026 guidance support the expected gains in earnings and revenue. The year-over-year comparison is favourable, but the company missed estimates in both of its last two quarters. The EPS consensus has risen from C$0.22 to C$0.25 over the past 30 days, even though the revision data shows one downward revision and none upward. For Canadian investors, one detail is worth keeping clear: Tourmaline sold Topaz shares in a secondary offering. Topaz did not issue shares and received no proceeds.
C$0.25 EPS consensus
One analyst expects EPS of C$0.25 for the September quarter, up from C$0.22 30 days ago. That compares with C$0.07 a year earlier. But Topaz missed estimates in its two most recent quarters, so the projected 240% year-over-year growth is something to assess against the results, not take for granted.
Bull case
Topaz’s optimistic case rests on operating growth. In the second quarter, royalty production rose 9% year over year to 24,233 boe/d, and the company raised its 2026 production guidance. It also completed a C$38.7-million tuck-in royalty acquisition, which could add to its production base. The September-quarter consensus points to strong growth from a year ago, and the EPS estimate has edged up over the past month. Topaz also reports a 39.24% profit margin and a 4.47% dividend yield, which may interest investors looking beyond one quarter’s results.
Bear case
Topaz’s recent results are a reason not to assume it will beat estimates again. The company beat EPS estimates in two of its last four reported quarters: C$0.21 versus C$0.11 in December 2025, and C$0.10 versus C$0.07 in September 2025. It then missed in March 2026, reporting C$0.25 against C$0.39, and in June, reporting C$0.29 against C$0.35. The current EPS and revenue estimates each come from one analyst, so they may not reflect a broad range of expectations. Royalty results also depend on production and commodity conditions. The information provided does not include a price outlook for the September quarter.
Analysis
Topaz is due to report its September-quarter results after the market closes on November 2. The calendar lists EPS consensus of C$0.25 and revenue consensus of C$108 million, with one analyst behind each figure. Compared with EPS of C$0.07 a year ago, the estimates imply EPS growth of 240% and revenue growth of 41.3%. These are forecasts, not reported results.
The EPS estimate has risen from C$0.22 over the past 30 days, although the revision data shows no upward revisions and one downward revision. The key question is whether Topaz’s operating results support the expected year-over-year growth. In its second-quarter update, the company reported a 9% increase in royalty production to 24,233 boe/d and raised its 2026 production guidance. It also announced a C$38.7-million tuck-in royalty acquisition. Investors will want to see how production and the acquisition show up in the quarter’s results. The information provided does not include a company-specific forecast for September-quarter revenue or margins.
Analysis
Topaz beat estimates in two of its last four reported quarters, but missed in its two most recent results. For the quarter ended September 30, 2025, EPS was C$0.10, above the C$0.07 estimate. In the quarter ended December 31, actual EPS of C$0.21 also beat the C$0.11 estimate. The pattern changed in March 2026, when EPS of C$0.25 fell short of C$0.39, and in June, when C$0.29 missed C$0.35. The September-quarter estimate does not follow a recent run of beats. The automatically inserted earnings trend table shows the quarter-by-quarter comparison. For company details and updates, visit the Topaz Energy stock page.
Analysis
Tourmaline, not Topaz, sold shares in a recent secondary offering. According to the supplied headlines, Tourmaline sold 11.5 million shares at C$28.75 in October and retained about 5.4%. Topaz received no proceeds, so the sale should not be confused with financing for the company’s operations.
The supplied data lists Topaz’s last close at C$31.25 and the average analyst target at C$36.32, or 16.2% above that price. A formal rating is unavailable for Canadian listings, though the page describes the comparison as bullish. Wealth Awesome’s statistical 90-day price model is not financial advice. It gives a mean forecast of C$31.82, with a 68% range of C$27.94 to C$36.24 and a 95% range of C$24.53 to C$41.27. See the analyst targets section and price forecast section for details. These figures are reference points, not guarantees or a substitute for reviewing the earnings report.
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