Major Drilling Group International Q4 Earnings Call Highlights

Major Drilling Group International (TSE:MDI) reported grounds yearly gross for fiscal 2026, arsenic higher drilling enactment crossed each regions helped assistance fourth-quarter income and profitability, executives said connected the company's net call.

President and CEO Denis Larocque said the institution ended fiscal 2026 with gross of CAD 889 million, up 22% from the anterior twelvemonth and the highest yearly full successful Major Drilling's 46-year history. Fourth-quarter gross roseate 25% twelvemonth implicit year, supported by wide determination maturation and a crisp summation successful North American activity.

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"As we adjacent fiscal 2026, I americium precise arrogant of our top-tier information record," Larocque said, noting the institution achieved a Total Recordable Incident Frequency Rate, oregon TRIFR, of 0.85 for the year. He said Major Drilling's information culture, maintained rig fleet, inventory levels and crews "continue to solidify our presumption arsenic manufacture leader."

Fourth-Quarter Revenue Rises Across Regions

Chief Financial Officer Ian Ross said fourth-quarter gross totaled CAD 233.7 million, up 24.6% from CAD 187.5 cardinal successful the aforesaid play past year. The gains were led by Canada and the United States, wherever gross accrued astir 67% twelvemonth implicit year.

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Larocque said the betterment reflected stronger enactment pursuing expanded exploration budgets from elder mining companies and a continued acceleration successful financing enactment among inferior miners. He added that enactment besides accrued successful South and Central America, driven mostly by maturation successful Peru, portion the Australasian and Africa conception benefited from accrued request from elder miners successful Australia.

Ross said overseas speech translation had a favorable interaction of astir CAD 1 cardinal connected gross compared with the anterior year's effectual rates, portion the interaction connected nett net was minimal.

Earnings Improve arsenic Pricing Offsets Cost Pressure

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Major Drilling generated EBITDA of CAD 28 cardinal successful the 4th quarter, up 37% from CAD 20.5 cardinal successful the prior-year period. Net net roseate to CAD 8.2 million, oregon CAD 0.10 per share, compared with CAD 1 million, oregon CAD 0.01 per share, a twelvemonth earlier.

The company's adjusted gross margin, excluding depreciation, was 22% successful the quarter, compared with 22.8% successful the aforesaid play past year. Ross said margins were broadly successful enactment with the anterior twelvemonth arsenic higher labour ramp-up costs and consumable costs, peculiarly successful North America, were offset by operational leverage and improved pricing.