The call presents a mixed but constructive picture: top-line growth (+10.5% revenue) and stronger adjusted EBITDA and net earnings were reported alongside meaningful operational progress (highest utilization in >2 years, ramp-up of new projects, strong commodity-driven demand). However, margin compression (adjusted gross margin down 3.0 percentage points), temporary South America project disruptions, competitive pricing, lower productivity on some Canadian projects, and expected cost inflation temper the upside. Management remains optimistic on demand and is targeting continued utilization improvements and debt paydown, but near-term margin pressure and weather-related timing effects create uncertainty.

Company Guidance

Management guided that drilling utilization — which rose from ~56% in Q1 to ~62% in the quarter (the highest in >2 years) — should increase to about 65% in Q3, with some gains only fully realized in Q4, and can be accommodated with minimal mobilization costs; demand is expected to remain strong on record gold and elevated copper prices and high RFP activity (including junior programs now exceeding 5k–20k meters). They warned of cost inflation for supplies, materials and wages and noted ramp‑up projects typically yield lower gross margins, but expect to continue net debt paydown (long‑term debt $16.0M vs $19.3M in Q1 and $14.0M at FY2025 year‑end) while operating under a $30.0M revolving credit facility (+ unused USD5.0M LC capacity) expiring Dec 22, 2029. Recent Q2 metrics cited alongside this guidance: revenue $47.9M (+10.5% YoY; Canada $33.8M, +9.8%; International $14.1M, +12.1%), gross profit $6.5M (13.5% of revenue), adjusted gross margin 18.5% (vs 21.5% LY), adjusted EBITDA $5.1M, net earnings $1.3M ($0.03/diluted), working capital $51.9M, $3.3M net credit‑facility repayment in the quarter, and an NCIB with 141,450 shares repurchased at a $1.29 weighted average (of a 500,000‑share program).

Revenue Growth

Total revenue of $47.9M, up 10.5% year-over-year (from $43.5M).

Canada and International Revenue Increases

Canada revenue of $33.8M (+9.8% YoY) driven by higher activity and a larger mix of specialized drilling; International revenue of $14.1M (+12.1% YoY) from increased activity in Chile and Guyana.

Improved Adjusted EBITDA and Net Earnings

Adjusted EBITDA rose to $5.1M from $4.5M (+13.3%); net earnings improved to $1.3M ($0.03/share) from $0.5M ($0.01/share), an increase of ~160% (benefitting from lower income tax expense and favorable FX, partially offset by lower operating earnings).

Higher Drill Utilization and Ramp-Up of New Projects

Drill utilization reached its highest level in more than two years (management cited an increase from ~56% in Q1 to ~62% in Q2) and management expects further increase to ~65% in Q3 as new contracts ramp up.

Strong Market Demand Backed by Commodity Prices

Record gold prices and elevated copper prices are supporting strong demand, increased RFP activity, and rising requests from junior explorers (including longer multi‑month programs), improving the outlook for future contract opportunities.

Liquidity and Shareholder Actions

Entered a sixth amended credit agreement (revolving facility $30.0M plus USD 5.0M standby LC capacity, maturity Dec 22, 2029). Net repayment on credit facility of $3.3M in the quarter. Working capital of $51.9M (vs $50.4M FY2025 year-end). Repurchased 141,450 shares under NCIB at a weighted average price of $1.29.

Orbit Garant Drill (TSE:OGD) Earnings, Revenues Date & History

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TSE:OGD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 13, 2026	2026 (Q3)	- / -	0.071	―	―	―
Feb 11, 2026	2026 (Q2)	- / 0.03	0.042	-19.05% (>-0.01)		―
Nov 12, 2025	2026 (Q1)	- / <0.01	0.085	-89.41% (-0.08)	―	―
Sep 24, 2025	2025 (Q4)	- / <0.01	-0.031	112.90% (+0.04)	―	―
May 07, 2025	2025 (Q3)	- / 0.07	0.06	18.33% (+0.01)	―	―
Feb 12, 2025	2025 (Q2)	- / 0.04	-0.04	205.00% (+0.08)	―	―
Nov 13, 2024	2025 (Q1)	- / 0.09	-0.01	950.00% (+0.10)	―	―
Sep 19, 2024	2024 (Q4)	- / -0.03	0.03	-203.33% (-0.06)	―	―
May 08, 2024	2024 (Q3)	- / 0.06	-0.01	700.00% (+0.07)	―	―
Feb 07, 2024	2024 (Q2)	- / -0.04	0.057	-170.18% (-0.10)	―	―

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:OGD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 11, 2026	C$1.77	C$2.01	+13.56%
Nov 12, 2025	C$1.73	C$1.47	-15.03%
Sep 24, 2025	C$1.85	C$1.74	-5.95%
May 07, 2025	C$1.57	C$1.52	-3.18%

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 Orbit Garant Drill (TSE:OGD) report earnings?

Orbit Garant Drill (TSE:OGD) is schdueled to report earning on May 13, 2026, After Close (Confirmed).

What is Orbit Garant Drill (TSE:OGD) earnings time?

Orbit Garant Drill (TSE:OGD) earnings time is at May 13, 2026, After Close (Confirmed).

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