The earnings call presented a mix of strong revenue growth and strategic positioning for future demand, balanced against challenges in margin decline, operational issues in Indonesia, and increased costs. While the company is optimistic about future opportunities, current financial pressures and operational challenges present notable concerns.

Company Guidance

During the conference call for Major Drilling's second quarter of fiscal 2026, the company reported a record-setting quarter with a 29% year-over-year increase in revenue, reaching $244 million, the highest in its 45-year history. The Canadian operations experienced a notable 63% revenue increase, while revenue in North and South America, particularly Canada and Peru, drove overall growth. The company maintained a positive outlook for calendar 2026, anticipating increased demand and continued proactive efforts to leverage its strong balance sheet for rapid deployment. Despite challenges in the Australasian and African regions, impacted by an operational incident in Indonesia, the company remains well-positioned, with a fleet of 707 drills at 51% utilization. The company generated EBITDA of $37.7 million, with net earnings of $13.9 million or $0.17 per share. The call also highlighted the impact of increased gold and copper prices, with gold accounting for 39% and copper 31% of the revenue. Looking ahead, the company focuses on preparing for a busier year, with significant investments in fleet and inventory, while addressing potential labor cost pressures.

Record-Setting Quarterly Revenue

Quarterly revenue increased by 29% to $244 million, marking the highest quarterly revenue in the company's 45-year history.

Strong Performance in North and South America

Canadian operations saw a 63% year-over-year increase in revenue, with significant growth in the Peruvian market following the acquisition of Explomin.

Increased Cash Position and Liquidity

The company increased its cash position by $17.6 million, ending the quarter with $14.3 million in net cash, and total available liquidity grew to over $149 million.

Positive Outlook for Calendar 2026

Expectations of increased demand for drilling services due to higher gold and copper prices, as well as the growing focus on critical minerals.

Major Drilling (TSE:MDI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:MDI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 26, 2026	2026 (Q3)	-0.03 / -	-0.11	―	―	―
Dec 10, 2025	2026 (Q2)	0.17 / 0.17	0.22	-22.73% (-0.05)	―	―
Sep 08, 2025	2026 (Q1)	0.17 / 0.12	0.19	-36.84% (-0.07)	―	―
Jun 11, 2025	2025 (Q4)	0.06 / 0.01	0.12	-91.67% (-0.11)	―	―
Mar 06, 2025	2025 (Q3)	-0.03 / -0.11	-0.03	-266.67% (-0.08)	―	―
Dec 05, 2024	2025 (Q2)	0.18 / 0.22	0.29	-24.14% (-0.07)	―	―
Sep 04, 2024	2025 (Q1)	0.22 / 0.19	0.26	-26.92% (-0.07)	―	―
Jun 11, 2024	2024 (Q4)	0.20 / 0.12	0.25	-52.00% (-0.13)	―	―
Feb 29, 2024	2024 (Q3)	0.02 / -0.03	0.08	-137.50% (-0.11)	―	―
Dec 07, 2023	2024 (Q2)	0.26 / 0.29	0.28	3.57% (<+0.01)	―	―

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:MDI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 10, 2025	C$13.89	C$13.69	-1.44%
Sep 08, 2025	C$10.23	C$9.42	-7.92%
Jun 11, 2025	C$8.58	C$9.76	+13.75%
Mar 06, 2025	C$7.78	C$8.00	+2.83%

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 Major Drilling Group (TSE:MDI) report earnings?

Major Drilling Group (TSE:MDI) is schdueled to report earning on Feb 26, 2026, After Close (Confirmed).

What is Major Drilling Group (TSE:MDI) earnings time?

Major Drilling Group (TSE:MDI) earnings time is at Feb 26, 2026, After Close (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:MDI EPS forecast?

TSE:MDI EPS forecast for the fiscal quarter 2026 (Q3) is -0.03.