While Major Drilling achieved significant revenue growth and set a new safety record, margins and net earnings declined due to increased costs and challenges in junior exploration budgets. The acquisition of Explomin and anticipated increases in exploration budgets offer positive prospects for the future.

Company Guidance

During the fourth quarter of fiscal 2025, Major Drilling set a new safety record with a total recordable incident frequency rate of 0.74. The company experienced an 11.6% increase in revenue year-over-year to $187.5 million, driven by strong performance in the South and Central American regions, despite challenges in Canada and the U.S. The adjusted gross margin percentage, excluding depreciation, declined to 22.8% from 26.9% due to increased start-up, training, and mobilization costs. General and administrative costs rose to $20.9 million, influenced by the acquisition of Explomin and inflationary wage adjustments. EBITDA for the quarter stood at $20.5 million, with net earnings of $1 million or $0.01 per share. The company ended the quarter with $3.9 million in net debt and total available liquidity of $123 million. Capital expenditures amounted to $18.6 million, adding 7 new drill rigs, which increased the total rig count to 708 with a utilization rate of 43%. Specialized drilling constituted 60% of total revenue, while gold and copper were the leading commodities, contributing 41% and 35% of revenue, respectively. For fiscal 2026, Major Drilling anticipates a 20% revenue increase in the first quarter, bolstered by heightened senior mining company budgets and strong demand for specialized services.

New Safety Record Achieved

Major Drilling set a new safety record with a total recordable incident frequency rate of 0.74 for fiscal 2025.

Successful Acquisition of Explomin

The acquisition of Explomin expanded operations in South and Central America, including Peru, Colombia, and the Dominican Republic.

Revenue Growth

Fourth quarter revenue increased by 11.6% to $187.5 million compared to the previous year, driven by strength in the South and Central American region.

Increased Exploration Budgets Expected

Year-over-year exploration budgets have been released by several senior mining companies, which should lead to a strong fiscal 2026.

Projected Revenue Increase

Revenue in the first quarter of 2026 is expected to increase by approximately 20% compared to Q4 2025.

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
Sep 08, 2025	2026 (Q1)	0.20 / -	0.19	―	―	―
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)	―	―
Jun 13, 2023	2023 (Q4)	0.26 / 0.25	0.27	-7.41% (-0.02)	―	―

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
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%
Sep 04, 2024	C$8.99	C$7.94	-11.68%

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 Sep 08, 2025, After Close (Confirmed).

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

Major Drilling Group (TSE:MDI) earnings time is at Sep 08, 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 (Q1) is 0.2.

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing