Total Energy Services (TSX: TOT). C$1B revenue, earnings up 22% last year, record compression backlog of C$303.9M. They're buying back shares, and raising the dividend.
The angle most people miss: Australia. Zero percent of revenue five years ago. Now 23-24% and management just put C$31.6M in new capital behind expanding it further. This is an international LNG infrastructure story hiding inside what looks like a Canadian oilfield services company.
Q1 earnings drop tomorrow. Two numbers on that call will either confirm or break the thesis, both are in the full report.
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Not investment advice.
Source: Lettura_