Core Insights - Badger Infrastructure Solutions Ltd. reported a strong financial performance for the fourth quarter and the full year of 2024, with annual revenue increasing by 9% and Adjusted EBITDA growing by 17% compared to 2023 [3][6] - The company plans to expand its hydrovac fleet by 4% to 7% in 2025, indicating a commitment to organic growth while maintaining disciplined capital spending [4][10] Financial Highlights - Total revenue for Q4 2024 was $187.2 million, an 8% increase from Q4 2023, while total annual revenue reached $745.0 million, up 9% from 2023 [5][6] - Adjusted EBITDA for Q4 2024 was $44.0 million, reflecting a 28% increase year-over-year, and for the full year, it was $176.1 million, a 17% increase [6][7] - Adjusted earnings per share for Q4 2024 improved to $0.37, a 131% increase from the previous year, while for the full year, it was $1.68, up 24% [6][7] Operational Metrics - The gross profit margin improved to 29.5% for Q4 2024 and 29.3% for the full year, compared to 26.2% and 27.9% in 2023, respectively [6][7] - Revenue per truck per month (RPT) for Q4 was $40,707, down from $41,924 in Q4 2023, while the annual RPT was $41,765, down from $43,505 [6][7] Dividend and Share Repurchase - The Board approved a 4.2% increase in the quarterly dividend, raising it from CAD$0.18 to CAD$0.1875 per share, effective Q1 2025 [6][7] - In Q4 2024, the company repurchased 196,000 shares at an average price of CAD $36.88, totaling 240,400 shares repurchased for the year [6][7] Business Outlook - The company anticipates growth in hydrovac services, particularly in the U.S., as election uncertainties have subsided, allowing for increased activity levels [9][10] - Badger plans to manage its fleet effectively, with new builds expected to range from 180 to 210 units and retirements between 90 to 130 units in 2025 [11][12]

险资继续买入 根据港交所披露数据，平安人寿在2月17日买入4772.3万股农业银行H股，每股均价为4.5116港元，耗资 2.15亿元，交易后持股比例5%。 近日，中国平安旗下平安人寿披露，平安资管受托该公司资金，投资于农业银行H股股票，于2月17日达 到农业银行H股股本的5%，根据香港市场规则，触发举牌。 这是平安人寿今年以来投资达到举牌线的第三家大行。迄今，平安人寿持有的农行H股、邮储银行H股、 招行H股数量占三家银行H股股本齐齐突破5%。另据港交所披露数据，2月14日，平安集团买入1.33亿工 商银行H股后，持股比例升至18.08%。 险资对于银行股的购买热情仍未退潮。 此次举牌为平安资管通过竞价交易方式买入，资金来源于平安人寿的保险责任准备金。平安资管为平安人 寿受托方，由同一控股股东中国平安保险集团控股。 实际上，今年1月3日以来平安已多次增持农业银行H股，2月20日，平安集团通过其子公司继续买入农业 银行H股，总计持股比例达到8.01%。 | 表格序號 大股東/董事/最高行 作出披 買入 / 賣出或 | | | 每股的平均值 持有權益的股份 | 估已發 有關事件的 | | --- | --- | ...