Badger Infrastructure Solutions Ltd. ( (BADFF) ) has released its Q3 earnings. Here is a breakdown of the information Badger Infrastructure Solutions Ltd. presented to its investors.
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Badger Infrastructure Solutions Ltd., based in Calgary, Alberta, is North America’s largest provider of non-destructive excavating services, utilizing its proprietary technology, the Badger Hydrovac, to safely excavate around critical infrastructure. The company designs and manufactures all its hydrovac units at its plant in Red Deer, Alberta.
In its third quarter of 2024, Badger Infrastructure Solutions Ltd. reported solid growth, with a 7% increase in revenue amounting to $209.4 million compared to the same quarter in 2023. The U.S. market, which represents 89% of the company’s revenue, saw a 10% increase, offsetting a 12% decline in Canada.
Key financial highlights include an 11% increase in Adjusted EBITDA to $58.3 million and a gross profit margin improvement to 32.5%. The company also reported adjusted earnings per share of $0.73, marking a 6% increase from the previous year. Additionally, Badger announced a quarterly cash dividend and an extended normal course issuer bid.
Looking ahead, Badger’s management remains optimistic about continued demand, particularly in the U.S. markets, despite some slowdowns in specific areas. The company plans to focus on increasing revenue through strategic pricing and sales initiatives, while maintaining operational efficiency to drive profitability into 2025.
