The earnings call reflects a balanced sentiment. While there is strong revenue growth and optimism in South and Central America, there are significant margin pressures and challenges in North America and Australasia. Despite a positive outlook for commodities, net earnings have declined.

Company Guidance

During the first quarter of fiscal 2026, Major Drilling achieved a 21% revenue growth compared to the previous quarter, driven primarily by strong performance in South and Central America, particularly in Peru. The company reported total revenue of $226.6 million, marking a 19.3% increase from the same period last year. Despite challenges in the Australasian market and a competitive environment in North America, the adjusted gross margin, excluding depreciation, was 25.2%. The company maintained a net debt of $2.8 million with working capital growing by $13.1 million to $206.8 million. EBITDA for the quarter was $32.1 million, while net earnings were $10.1 million or $0.12 per share. The fleet utilization increased to 50%, driven by strategic relocations and the addition of five new drill rigs. Specialized work accounted for 60% of total revenue, with gold and copper being significant contributors at 41% and 34%, respectively. As they move into the second quarter, Major Drilling anticipates continued revenue growth driven by additional projects in South America and improving conditions in North America.

Revenue Growth Momentum

Achieved 21% revenue growth over the last 3 months, driven by strong performance in Peru and Chile, despite challenges in the Australasian market.

South and Central American Strength

Continued strong performance in South and Central America, particularly in Peru, contributing significantly to revenue growth.

Increased Fleet Utilization

Fleet utilization reached 50% for the first time in a long time, with specialized work accounting for 60% of total revenue, indicating strong demand for specialized services.

Strong Liquidity Position

Ended the quarter with $2.8 million in net debt and available liquidity of $127 million, positioning the company well for future growth.

Positive Outlook for Commodities

Gold prices at record highs and strong outlook for copper and other base metals, supporting further growth in exploration budgets.

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

Daily Earnings Calendar >

TSE:MDI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 04, 2025	2026 (Q2)	0.20 / -	0.22	―	―	―
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)	―	―
Sep 05, 2023	2024 (Q1)	0.26 / 0.26	0.29	-10.34% (-0.03)	―	―

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
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%
Dec 05, 2024	C$8.86	C$8.89	+0.34%

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 Dec 04, 2025, After Close (Confirmed).

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

Major Drilling Group (TSE:MDI) earnings time is at Dec 04, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:MDI EPS forecast?

TSE:MDI EPS forecast for the fiscal quarter 2026 (Q2) is 0.2.

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