Badger Infrastructure Solutions (TSE:BDGI)
TSX:BDGI
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.24Last Year’s EPS
0.14Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicates strong operational and financial momentum: record revenue, year-over-year adjusted EBITDA growth, improved RPT and fleet expansion, plus discipline around leverage and shareholder returns. Management is investing aggressively in fleet builds, branch expansion, Operational Excellence and two adjacent service lines to capture substantial market demand. Principal risks/near-term negatives include tariff uncertainty (potential $18M–$30M cost exposure), elevated 2026 capital requirements and short-term margin pressure from hiring and rollout investments, and potential manufacturing capacity constraints that may necessitate a U.S. facility. Overall, positive fundamentals and clear mitigation plans outweigh the near-term headwinds.Company Guidance
Record Revenue and Top-Line Growth
Full-year 2025 revenue exceeded $830 million, up 12% year-over-year; fourth quarter revenue grew 14% YoY, reflecting strong demand across core end markets.
Adjusted EBITDA Growth and Margin Expansion
Full-year adjusted EBITDA increased 13% YoY and adjusted EBITDA margin expanded to 23.8% from 23.6% in 2024 (+20 basis points). Fourth quarter adjusted EBITDA was $44.9 million (+2% YoY) with a Q4 margin of 21.5%.
Improved Revenue per Truck (RPT)
Revenue per truck per month (RPT) reached $41,672 in 2025, up 5% year-over-year, driven by higher utilization.
Fleet Growth and Vertical Manufacturing Progress
Badger ended 2025 with 1,723 hydrovacs (fleet growth of 5% in 2025). The Red Deer plant produced 210 hydrovacs, refurbished 35 and retired 130 units. Management plans a record build of 270–310 new units in 2026, targeting 7%–10% net fleet growth.
Capital Return and Shareholder Actions
Board approved a 4% increase to the quarterly cash dividend effective Q1 2026. In 2025 the company returned $31 million to shareholders ($18M in dividends and $13M for repurchasing 492,800 shares at an average CAD 37.78).
Strong Balance Sheet and Leverage Position
Compliance leverage ended the year at 1.3x debt-to-EBITDA, inside the company target range of 1.0x–2.0x, leaving financial flexibility for growth and returns.
Operational Efficiency Initiatives
Launched an Operational Excellence program and continued systems/process investments. G&A improved to 5% of revenue in Q4 (100 bps lower than prior year), signaling scalable support functions.
Strategic Adjacent Service Line Trials
Soft launches of two complementary service lines (industrial cleaning/industrial services and trench safety/trench shoring) began in late 2025 with initial positive early results; planned CapEx of $15M–$25M to support launches (not expected to be material to 2026 revenues).
Safety and Market Position
Renewed 'Make Safety Personal' campaign with improving safety results; company emphasizes largest and one of the youngest hydrovac fleets in North America and national accounts program covering 44 U.S. states and 6 Canadian provinces.
Badger Infrastructure Solutions (TSE:BDGI) Earnings, Revenues Date & History
TSE:BDGI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:BDGI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 05, 2026 | C$71.69 | C$70.52 | -1.63% |
Nov 05, 2025 | C$73.56 | C$71.59 | -2.69% |
Jul 30, 2025 | C$53.86 | C$51.83 | -3.77% |
Apr 29, 2025 | C$36.43 | C$38.78 | +6.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Badger Infrastructure Solutions (TSE:BDGI) report earnings?
Badger Infrastructure Solutions (TSE:BDGI) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is Badger Infrastructure Solutions (TSE:BDGI) earnings time?
Badger Infrastructure Solutions (TSE:BDGI) earnings time is at Apr 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is TSE:BDGI EPS forecast?
TSE:BDGI EPS forecast for the fiscal quarter 2026 (Q1) is 0.24.