MONCTON, New Brunswick, Feb. 25, 2026 (GLOBE NEWSWIRE) -- Major Drilling Group International Inc. (“Major Drilling” or the “Company”) (TSX: MDI), the largest provider of drilling services to the mining sector, today reported results for the third quarter of fiscal 2026, ended January 31, 2026.  Quarterly Highlights: Revenue of $184.6 million, up 14.9% from the $160.7 million recorded in the same quarter last year.Adjusted gross margin(1) of 14.3% as the Company incurred costs to aggressively prepare for inc ...

Laplante said quarterly revenue was constrained by a customer decision to temporarily delay one South American project and modifications to another drill program, adding that the delayed project fully resumed in January 2026.Canada revenue was CAD 33.8 million , up 9.8% year-over-year, driven by increased drilling activity and a higher mix of specialized drilling.Chief Financial Officer Pier-Luc Laplante said quarterly revenue totaled CAD 47.9 million , up from CAD 43.5 million in the same quarter last year ...

Company Overview - Major Drilling Group International Inc. is the world's leading provider of drilling services in the metals and mining industry, established in 1980 [5] - The company operates globally with field operations and registered offices across North America, South America, Australia, Asia, Africa, and Europe [5] - Major Drilling is recognized for its expertise in tackling challenging drilling projects and is supported by a highly skilled workforce and an experienced senior management team [5] Services Offered - The company provides a wide range of drilling services, including reverse circulation, surface and underground coring, directional, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive/longhole, and surface drill and blast [6] - Major Drilling is also focused on the ongoing development and evolution of its suite of data and technology-driven innovation services [6] Upcoming Events - The company will release its third fiscal quarter results for the period ended January 31, 2026, on February 25, 2026, after market close [1] - A webcast/conference call to discuss these results will be held on February 26, 2026, at 8:00 a.m. Eastern [2] - For those unable to attend the live event, a replay of the webcast will be archived for one year on the Major Drilling website [4]

Core Insights - Transocean Ltd. (NYSE:RIG) experienced a significant stock price increase, reaching a 52-week high of $4.72, driven by positive investor sentiment following the successful first phase of drilling exploration in ConocoPhilips' Otway Basin project [1][2] - The stock closed at $4.63, reflecting a daily gain of 7.67% after initially peaking [1] - ConocoPhilips confirmed the completion of the first phase, which encountered substantial gas approximately 160 meters above the primary target, utilizing Transocean's Equinox semi-submersible drilling rig [2][3] Contractual Developments - Transocean secured a $168 million contract for two of its rigs earlier this month, indicating strong demand for its services [3] - The Deepwater Mykonos rig obtained its first contract in Brazil, covering a 302-day campaign expected to start in Q3 2026, contributing approximately $120 million in backlog [4] - In Norway, three one-well options were exercised for the Transocean Enabler, extending its current drilling operations for 105 days, projected to generate $48 million in backlog [5]

Core Insights - Major Drilling Group International Inc. reported a record revenue of $244.1 million for Q2 fiscal 2026, marking a 29.0% increase compared to the same quarter last year, driven by strong demand from senior mining customers [3][12] - The company transitioned from a net debt position to a net cash position of over $14 million, with total available liquidity exceeding $149 million, positioning it well for future growth [5][24] - The outlook for the company remains positive as senior mining companies prepare their budgets for the upcoming calendar year, despite temporary challenges such as labor shortages and competitive pricing pressures [7][8] Financial Performance - Revenue for Q2 2026 was $244.1 million, up from $189.3 million in Q2 2025, with adjusted gross margin at 26.0%, down from 30.5% year-over-year [11][12] - EBITDA for the quarter was $37.7 million, slightly down from $38.7 million in the same period last year [8][22] - Net earnings were reported at $13.9 million or $0.17 per share, compared to $18.2 million or $0.22 per share in Q2 2025 [19][22] Regional Performance - Revenue from North America increased by 2.6% to $87.6 million, with a significant rebound in Canadian activity, while U.S. performance was softer due to reduced junior activity [13] - South and Central American revenue surged by 125.5% to $110.7 million, largely due to the contribution from Explomin, despite slowdowns in Argentina and Chile [14] - Australasian and African revenue decreased by 16.1% to $45.9 million, primarily impacted by operational issues with a major customer in Indonesia [15] Strategic Initiatives - The company announced a Normal Course Issuer Bid (NCIB) to repurchase up to 5% of its issued shares over a 12-month period starting October 21, 2025 [8] - Major Drilling is ramping up training efforts to address the shortage of experienced drill crews, which is expected to impact margins in the short term but aims to enhance operational capacity in the long run [8][10] - The company continues to focus on strategic market positioning to capture long-term opportunities, particularly in competitive pricing environments [4][8]

Core Insights - Major Drilling Group International Inc. will release its second fiscal quarter results for the period ending October 31, 2025, on December 10, 2025, after market close [1] - A webcast/conference call is scheduled for December 11, 2025, at 8:00 a.m. Eastern, featuring Denis Larocque, President & CEO, and Ian Ross, CFO, to discuss the results [2] Company Overview - Major Drilling Group International Inc. is recognized as the world's leading provider of specialized drilling services in the metals and mining industry, with operations across North America, South America, Australia, Asia, Africa, and Europe [5] - Established in 1980, the company has developed a strong global brand in the mining sector, known for handling complex drilling projects supported by a skilled workforce and experienced management [5] - The company offers a wide range of drilling services, including reverse circulation, surface and underground coring, directional drilling, and various technology-driven innovation services [6]

Core Viewpoint - Helmerich & Payne (HP) is expected to report a quarterly earnings per share (EPS) of $0.26, reflecting a year-over-year decline of 65.8%, while revenues are projected to be $975.66 million, an increase of 40.6% from the previous year [1]. Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised downward by 7.9%, indicating a collective reassessment by analysts of their initial forecasts [2]. - Revisions to earnings projections are crucial for predicting investor behavior and are strongly correlated with short-term stock price performance [3]. Revenue Projections - Analysts predict 'Operating Revenues - North America Solutions' to reach $554.59 million, a decrease of 10.3% from the prior year [5]. - The consensus for 'Operating Revenues - Offshore Solutions' is estimated at $161.29 million, showing a significant increase of 485.5% from the year-ago quarter [5]. - 'Operating Revenues - International Solutions' is expected to be $237.54 million, reflecting a growth of 422.5% compared to the previous year [6]. - 'Operating Revenues - Drilling services' is projected at $959.21 million, indicating a rise of 38.8% from the year-ago quarter [6]. Rig Metrics - The average active rigs for 'North America Solutions' is estimated at 141, down from 151 in the same quarter last year [6]. - For 'Offshore Solutions', the average active rigs are expected to remain at 3, unchanged from the previous year [7]. - The number of available rigs at the end of the period for 'International Solutions' is projected to be 137, up from 27 in the same quarter last year [8]. - The forecast for 'North America Solutions' indicates 223 available rigs, slightly down from 228 in the same quarter last year [8]. Segment Operating Income - Analysts estimate 'Segment operating income (loss) - North America Solutions' to be $133.56 million, down from $155.70 million reported in the same quarter last year [9]. - The expected 'Segment operating income - Offshore Solutions' is projected at $14.90 million, an increase from $4.28 million in the same quarter last year [10]. Stock Performance - Helmerich & Payne shares have increased by 15% over the past month, outperforming the Zacks S&P 500 composite, which rose by 4.6% [10].

Core Viewpoint - Major Drilling Group International Inc. has announced a normal course issuer bid (NCIB Program) to repurchase up to 4,097,159 common shares, approximately 5% of its outstanding shares, over a 12-month period starting October 21, 2025 [1][2]. Group 1: NCIB Program Details - The NCIB Program allows Major Drilling to purchase shares on the Toronto Stock Exchange (TSX) at prevailing market prices, with a daily limit of 34,457 shares, which is 25% of the average daily trading volume for the previous six months [2][3]. - The total number of common shares outstanding as of October 14, 2025, is 81,943,186 [1]. - Shares repurchased under the NCIB Program will be cancelled, which is expected to enhance the value for remaining shareholders [2]. Group 2: Automatic Share Purchase Plan (ASPP) - Major Drilling will implement an automatic share purchase plan (ASPP) to facilitate share repurchases during regulatory restrictions or blackout periods [3][4]. - The designated broker will make purchases based on parameters set by the company prior to entering a blackout period [4]. Group 3: Company Overview - Major Drilling is the largest provider of specialized drilling services in the mining sector, with operations across North America, South America, Australia, Asia, Africa, and Europe [6]. - Established in 1980, the company has built a reputation for handling complex drilling projects and is supported by a skilled workforce and experienced management team [6][7].

Core Insights - Three stocks with strong buy rankings and value characteristics are highlighted for investors: Weatherford International, Federated Hermes, and California Resources Weatherford International (WFRD) - The company specializes in drilling solutions, gas well unloading, restoration, and related activities [1] - It has a Zacks Rank of 1 (Strong Buy) and a 11% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [1] - The price-to-earnings (P/E) ratio is 11.83, significantly lower than the industry average of 17.30 [2] - Weatherford possesses a Value Score of A [2] Federated Hermes (FHI) - This global asset manager provides investment advisory, administrative, and distribution services for various investment products [3] - It also holds a Zacks Rank of 1 and has seen a 2.2% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [3] - The P/E ratio stands at 11.33, compared to the industry average of 12.90 [4] - Federated Hermes has a Value Score of B [4] California Resources (CRC) - The company focuses on oil and natural gas exploration and production, primarily based in California [5] - It carries a Zacks Rank of 1 and has experienced a 5.5% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [5] - The P/E ratio is 11.41, well below the industry average of 43.10 [5] - California Resources also has a Value Score of B [5]

Core Insights - Five stocks have been added to the Zacks Rank 1 (Strong Buy) List, indicating strong potential for investment returns Group 1: Company Performance - HudBay Minerals (HBM) has seen a 9.1% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - GigaCloud Technology Inc. (GCT) has experienced a 6.5% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Weatherford International (WFRD) has reported a 6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Maximus (MMS) has seen a 6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3] - Jackson Financial (JXN) has experienced a 4.8% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3]