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Major Drilling Group (TSE:MDI)
TSX:MDI
Earnings Data
Report Date
Jun 16, 2026After Close (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
0.13Last Year’s EPS
0.01Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call mixed positive operational and market indicators with near-term profitability pressures. Revenue grew strongly (+14.9% YoY) and the company materially strengthened its cash position and liquidity while preparing its fleet and workforce for an expected industry upswing driven by significant increases in exploration budgets. However, margins compressed significantly (adjusted gross margin down from 19.5% to 14.3%), EBITDA and net losses worsened due to strategic prep costs, contract terminations, start-up/mobilization expenses and regional softness in parts of Australasia/Africa. Management presented a constructive outlook, expecting revenue to ramp and margins to recover gradually as pricing improves, while highlighting labor and supply risks that could limit near-term margin recovery.Company Guidance
Revenue Growth
Q3 revenue of $184.6M, up 14.9% year-over-year (Denis cited ~15% growth), driven primarily by higher activity in Canada and the U.S. and growth in Peru.
Stronger Cash Position and Liquidity
Net cash increased by over $25M to $39.6M at quarter end; total available liquidity rose to $177.1M, providing balance-sheet flexibility despite preparation costs.
Fleet Size, Modernization and Readiness
Fleet optimized to 697 rigs after disposal of 13 older rigs; added 3 new rigs in the quarter. Company completed additional maintenance and proactively ordered supplies to maximize rig availability for an expected activity ramp.
Specialized Work Mix and Demand
Specialized services accounted for 59% of total revenue in the quarter; specialized fleet (306 rigs) utilization noted at 49%. Management reports continued high demand for specialized services as deposits are increasingly remote and technically challenging.
Improving Junior Participation and Commodity Diversity
Juniors represented 10% of revenue (up from 6% year-over-year and 8% last quarter), indicating increased financing activity. Commodity mix: gold 39%, copper 32%, iron ore 8%, silver 6% — demonstrating diversified demand exposure.
Preparation for Industry Upswing
Management reports many senior customers releasing exploration budgets up 30%+ with some nearly doubling budgets versus prior year; company retained/hired crews, increased training, and elevated inventory levels to prepare for a busier 2026.
CapEx Discipline and Fleet Optimization
Q3 CapEx of $10.3M (down from $12.6M prior year, -18.3%), with continued fleet optimization and modernization efforts. Management expects a Q4 uptick but to remain below fiscal 2026 $70M guidance overall.
TSE:MDI 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:MDI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | C$17.82 | C$18.25 | +2.41% |
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% |
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 Jun 16, 2026, After Close (Confirmed).
What is Major Drilling Group (TSE:MDI) earnings time?
Major Drilling Group (TSE:MDI) earnings time is at Jun 16, 2026, 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 (Q4) is 0.13.