Progressive Planet Lifts Q2 Profit, Grows Backlog as It Installs Robotic Palletizer and Exits Zeolite Lease

Progressive Planet Solutions Inc ( (TSE:PLAN) ) has shared an announcement.

Progressive Planet reported a rise in second-quarter net income to $971,895 and a 60% increase in EBITDA to $1.45 million, despite a 9.2% year-over-year decline in Q2 revenue to $5.0 million, as a planned shutdown of three of four production lines for installation of a new robotic palletizer shifted some sales into the third quarter. The company ended the quarter with a 238% increase in order backlog to $1.39 million, driven in part by record October purchase orders exceeding $2.7 million and the introduction of two new Pure DE SKUs into the U.S. market, while noting agricultural sales rebounded strongly in Q3 and confirming no further shutdowns this quarter. Management also decided not to renew the lease on the Z1 Zeolite Quarry, citing superior assets acquired through recent transactions and signalling a strategic shift toward higher-quality resources; the move will trigger a $1.21 million asset write-down in Q3 but reflects an ongoing optimization of the company’s asset base and product mix.

The most recent analyst rating on (TSE:PLAN) stock is a Buy with a C$0.34 price target. To see the full list of analyst forecasts on Progressive Planet Solutions Inc stock, see the TSE:PLAN Stock Forecast page.

Spark’s Take on TSE:PLAN Stock

According to Spark, TipRanks’ AI Analyst, TSE:PLAN is a Outperform.

Progressive Planet Solutions Inc demonstrates strong financial performance with significant revenue growth and improved profitability. The technical indicators show a bullish trend, and the valuation is reasonable. Positive corporate events further enhance the company’s growth prospects. However, the company should focus on improving operational efficiency and equity strength to sustain its positive trajectory.

To see Spark’s full report on TSE:PLAN stock, click here.

More about Progressive Planet Solutions Inc

Progressive Planet Solutions Inc. is a Canada-based materials company focused on producing supplementary cementing materials and agricultural soil amendment products. Following its acquisitions of Absorbent Products in 2022 and the Ferguson Creek Pozzolan Property in 2025, the company has broadened its asset base and product portfolio, including new diatomaceous earth offerings under the Pure DE brand for the U.S. retail market.

Average Trading Volume: 107,816

Technical Sentiment Signal: Buy

Current Market Cap: C$31.83M

For a thorough assessment of PLAN stock, go to TipRanks’ Stock Analysis page.