Core Points - Badger Infrastructure Solutions Ltd. announced that all motions at its annual meeting of shareholders on April 30, 2025, were approved, with 27,981,553 common shares represented, accounting for approximately 82.36% of the issued and outstanding shares [1] Group 1: Shareholder Meeting Results - All ten director nominees proposed by management were elected, with significant support ranging from 96.13% to 98.61% for individual nominees [2] - A total of 27,965,832 shares (99.94%) voted in favor of appointing Deloitte LLP as the Company's auditor [3] - 27,165,082 shares (97.42%) supported management's approach to executive compensation as disclosed in the Management Information Circular dated March 14, 2025 [3] Group 2: Company Overview - Badger Infrastructure Solutions Ltd. is North America's largest provider of non-destructive excavating and related services, serving contractors and facility owners in various infrastructure industries [4] - The Company's key technology, the Badger Hydrovac™, is designed for safe excavation around critical infrastructure, utilizing a pressurized water stream and a powerful vacuum system [5] - Badger manufactures all its hydrovac units at its plant in Red Deer, Alberta, with an annual production capacity exceeding 350 units, and has initiated a refurbishment program to extend the service life of certain units [5]

CALGARY, Alberta, April 29, 2025 (GLOBE NEWSWIRE) -- Badger Infrastructure Solutions Ltd. ("Badger", the "Company", "we", "our" or "us") (TSX:BDGI) reported first quarter results today. All results are presented in U.S. dollars unless otherwise stated. 2025 FIRST QUARTER OPERATIONAL HIGHLIGHTS Revenue was $172.6 million, up 7% from 2024.Gross profit margin was 25.5%, up from 24.8% in 2024.Adjusted EBITDA(1) improved to $33.8 million, up 16% from 2024.Adjusted EBITDA margin(1) rose to 19.6%, up from 18.1% in ...

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]