Core Insights - Badger Infrastructure Solutions Ltd. reported a strong second quarter with an 11% increase in revenue to $208.2 million and an 18% rise in adjusted EBITDA year-over-year, indicating effective business strategies and customer demand [3][4][6] Financial Highlights - Total revenue for Q2 2025 was $208.2 million, up from $186.8 million in Q2 2024, with non-destructive excavation services contributing $197.4 million [5][6] - Adjusted EBITDA reached $52.7 million, an 18% increase from $44.6 million in the same quarter last year, with an adjusted EBITDA margin of 25.3% [5][6] - Net earnings for Q2 2025 were $18.5 million, compared to $11.9 million in Q2 2024, resulting in adjusted net earnings per share of $0.60, up 33% year-over-year [5][6][7] Operational Performance - Year-to-date revenue growth was 9%, with adjusted EBITDA increasing by 17% and adjusted net earnings per share rising by 32% [4] - The company maintained a gross profit margin of 30.5%, up from 29.2% in 2024, reflecting improved operational efficiency [6] Business Outlook - Badger anticipates continued growth opportunities, particularly in the U.S., and plans to leverage customer relationships to drive higher activity levels [10][11] - The company is focused on fleet management and utilization, with planned growth of 4% to 7% in its hydrovac fleet for 2025 [11][12] - Total capital expenditure for 2025 is projected to be between $95 million and $115 million, which includes investments in new hydrovacs and refurbishments [13] Shareholder Returns - The board approved a quarterly cash dividend of CAD$0.1875 per common share for Q3 2025, with payment scheduled for on or after October 15, 2025 [6] - Badger repurchased 191,800 shares at an average price of CAD$36.94 during Q2 2025, with a total of 492,800 shares repurchased year-to-date [6][7][14]

Company Overview - Badger Infrastructure Solutions Ltd. is North America's largest provider of non-destructive excavating services, serving contractors and facility owners across various infrastructure industries and general commercial construction [3]. - The company specializes in excavation services near high concentrations of underground utilities, where safety and economic risks are significant [3]. Technology and Services - The key technology utilized by the company is the Badger Hydrovac™, which employs a pressurized water stream to liquefy soil for safe excavation around critical infrastructure [4]. - Badger designs and manufactures all its hydrovac units at its facility in Red Deer, Alberta, with an annual production capacity exceeding 350 units [4]. - The company has initiated a refurbishment program to extend the service life of certain hydrovac units when financially prudent [4]. - In addition to the Badger Hydrovac, the company offers specialty units such as Airvacs, combo trucks, and sewer and flusher units to enhance its service offerings [4]. Upcoming Financial Results - Badger Infrastructure Solutions Ltd. is set to release its Q2 2025 results on July 30, 2025, after market close [2]. - A conference call for investors, analysts, and brokers to discuss the results is scheduled for 7:00 a.m. MT on July 31, 2025 [2].

Company Overview - Badger Infrastructure Solutions Ltd. is North America's largest provider of non-destructive excavating and related services, operating in various infrastructure industries and general commercial construction [5] - The company specializes in non-destructive excavation, particularly using its proprietary Badger Hydrovac technology, which liquefies soil using pressurized water and removes it with a vacuum system [5] - Badger designs and manufactures all of its hydrovac units at its facility in Red Deer, Alberta, with an annual production capacity exceeding 350 units [5] Market Upgrade - Badger Infrastructure Solutions Ltd. has upgraded to trade on the OTCQX Best Market from the Pink market, enhancing its market access and liquidity for U.S. investors [1][4] - The upgrade allows the company to provide transparent trading and utilize its home market reporting to make information available in the U.S. [3] - The move is expected to broaden Badger's investor base and enhance its visibility within the U.S. investment community [4] Trading Information - Badger Infrastructure Solutions Ltd. began trading on OTCQX under the symbol "BDGIF," with financial disclosures and real-time quotes available on the OTC Markets website [2] - The OTCQX Market requires companies to meet high financial standards and adhere to best practice corporate governance [3]

Core Insights - Badger Infrastructure Solutions Ltd. reported a strong start to 2025 with a revenue increase of 7% to $172.6 million and a 16% rise in Adjusted EBITDA compared to the previous year, demonstrating effective operational leverage despite adverse weather conditions in early 2025 [3][6]. Financial Highlights - Total revenue for Q1 2025 was $172.6 million, up from $161.6 million in Q1 2024, with non-destructive excavation services contributing $164.8 million [5][6]. - Adjusted EBITDA reached $33.8 million, a 16% increase from $29.2 million in Q1 2024, resulting in an Adjusted EBITDA margin of 19.6%, up from 18.1% [5][6]. - Net earnings for Q1 2025 were $3.3 million, compared to $1.8 million in Q1 2024, with Adjusted net earnings increasing to $6.4 million from $4.9 million [5][6]. - The company declared a quarterly cash dividend of CAD$0.1875 per common share for Q2 2025, payable on or after July 15, 2025 [6]. Operational Highlights - The hydrovac fleet is expected to grow by 4% to 7% in 2025, providing capacity to meet increasing demand [4][11]. - Revenue per truck per month (RPT) was $35,034, slightly down from $35,138 in the previous year [6][7]. - The company is focused on disciplined fleet management and operational efficiency to support organic growth [10][11]. Business Outlook - Badger anticipates continued growth opportunities in the U.S. market, despite uncertainties related to tariffs and trade disputes [10]. - The company plans to invest between $95 million to $115 million in capital expenditures for new builds, refurbishments, and ancillary equipment in 2025 [12]. - Badger aims to enhance customer experience through operational excellence initiatives across its field operations [10][11]. Company Overview - Badger Infrastructure Solutions Ltd. is North America's largest provider of non-destructive excavation services, primarily serving contractors and facility owners in various infrastructure industries [16][17]. - The company's key technology, the Badger Hydrovac™, is designed for safe excavation around critical infrastructure, utilizing a pressurized water stream and vacuum system [17].

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]