Canada · Delayed Price · Currency is CAD Badger Infrastructure Solutions Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue grew 21% and adjusted EBITDA grew 25%, with margin expansion for a second consecutive quarter. Strong infrastructure demand supports fleet growth, while seasonal patterns remain and margin progress toward the target is expected to be gradual.
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Revenue grew 23% year-over-year to CAD 257 million, with adjusted EBITDA up 25% and margins improving. Strong demand across diverse end markets, ongoing fleet expansion, and new service lines support a positive outlook, while a second U.S. manufacturing plant and robust capital position enable continued growth.
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The meeting confirmed quorum and approved all resolutions, including director elections, auditor appointment, executive compensation, amendments to articles and bylaws, and a shareholder rights plan. No questions were raised on formal business, and voting results will be publicly disclosed.
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Record Q1 revenue and double-digit growth in adjusted EBITDA and EPS were driven by strong demand across all regions and end markets, especially data centers and infrastructure. Investments in fleet and operations are expected to support continued growth and margin expansion.
Fiscal Year 2025
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Record 2025 revenue and EBITDA growth were driven by strong demand and operational efficiency, with robust outlook for 2026 supported by fleet expansion, new service lines, and continued capital returns. Tariff risks and inflation are being actively managed.
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Q3 saw record revenue of $237.3M, up 13% year-over-year, with adjusted EBITDA margin rising to 28.2%. Strong demand in infrastructure and data center markets drove growth, while capital spend guidance was raised to support fleet expansion and market opportunities.
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Record Q2 revenue and double-digit profit growth driven by strong demand, improved fleet utilization, and operational efficiencies. Data center projects now rival oil and gas in revenue contribution, and margin expansion is supported by technology initiatives and disciplined cost control.
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Record Q1 results with 7% revenue growth and 16% adjusted EBITDA increase, driven by strong demand and operational efficiency. Fleet grew 9% year-over-year, and the company remains well positioned for 2025 with stable margins and proactive tariff management.
Fiscal Year 2024
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Record annual revenue and margin expansion were driven by strong U.S. growth and effective pricing, while Canadian operations showed signs of recovery amid ongoing tariff and political uncertainties. Capital allocation remains disciplined, with increased dividends and continued share repurchases.
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Q3 revenue rose 7% year-over-year, driven by strong U.S. growth, while Canadian revenue fell 12% but is expected to recover in 2025. Adjusted EBITDA margin improved to 27.8%, and the company maintained a strong balance sheet with 1.5x leverage.
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Q2 2024 saw 9% revenue growth and 14% Adjusted EBITDA growth, led by strong U.S. performance, while Canadian revenues declined due to project delays. The company is launching a data analytics platform, moderating truck builds, and initiating a share buyback, with confidence in future growth and margin improvement.