CALGARY, Alberta, Aug. 22, 2025 (GLOBE NEWSWIRE) -- On July 30, 2025, Badger Infrastructure Solutions Ltd. (“Badger”, the “Company”, “we”, “our” or “us”) (TSX:BDGI) announced its intention to file with the Toronto Stock Exchange (the “Exchange”) a notice of intention to renew its normal course issuer bid (the “Notice”). The Exchange has accepted the Notice providing for the purchase and cancellation by Badger of up to 2,910,453 common shares in the capital of the Company (“Common Shares”) during the period ...

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].

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]

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]