Paratus Energy reports strong Q3, raises full-year guidance

Paratus Energy Services Ltd. announced robust Q3 2025 results, with combined segment revenues rising 20% quarter-over-quarter to $127m and adjusted EBITDA increasing 38% to $78m. This strong performance led to an upward revision of full-year 2025 guidance, with contract revenue now projected at $445-455m and EBITDA at $250-260m. The company also declared a quarterly cash dividend of $0.22 per share.

Fontis, a subsidiary, contributed $54.8m in contract revenues, benefiting from the recognition of $12.1m in previously unrecognized revenue from the Titania FE contract. Operating expenses decreased to $19.5m, leading to adjusted EBITDA of $34.8m. Fontis also collected $96m from its client in Mexico post-quarter, bringing 2025 receipts to $309m.

The Seagems joint venture, in which Paratus holds a 50% share, saw contract revenues increase to $72.6m, primarily due to higher average dayrates and reduced off-hire days. Seagems secured an additional $60m in capital expenditures financing and distributed approximately $91m in cash to Paratus year-to-date. Paratus ended the quarter with $144m in cash and $659m in net debt, after monetizing its ~24% stake in Archer for $48m.