Badger Infrastructure Solutions Ltd. reported second quarter results with revenue at $208.2 million, up 11% from 2024. Gross profit margin increased to 30.5%, and adjusted EBITDA improved to $52.7 million, up 18% from 2024. Adjusted earnings per share also rose by 33%. The board approved a quarterly cash dividend of CAD$0.1875 per common share for Q3 2025.
President & CEO, Rob Blackadar, highlighted revenue growth of 11% in Q2, reaching $208.2 million. Adjusted EBITDA increased by 18%, reflecting margin expansion and profitability focus. Year-to-date, revenue grew by 9%, Adjusted EBITDA by 17%, and Adjusted net earnings per share by 32%, showing strong performance and customer demand support.
Badger remains focused on growth opportunities in the U.S., leveraging customer relationships for higher activity levels. The company plans to invest in fleet management, fleet utilization, and hydrovac fleet growth of 4% to 7% in 2025. Badger aims to meet growing customer needs through pricing opportunities, fleet capacity, and a disciplined capital program.
The company intends to renew its NCIB, allowing for opportunistic share purchases and dividend returns to shareholders. Badger emphasizes managing financial leverage to continue organic growth investments. The focus remains on efficiency, support functions, and leveraging its manufacturing capabilities for fleet growth and pricing opportunities.
Badger Infrastructure Solutions Ltd. is North America’s largest provider of non-destructive excavating services, specializing in underground infrastructure projects. The company’s key technology is the Badger HydrovacTM, which uses pressurized water to liquify soil for safe excavation. Badger designs and manufactures its hydrovac units in Red Deer, Alberta, with an annual capacity of over 350 units.
For more information, investors, analysts, and brokers can join a conference call and webcast on July 31, 2025, to discuss the 2025 second quarter results. Badger’s MD&A and financial statements for the quarter are available on SEDAR. The company uses non-IFRS financial measures like Adjusted EBITDA and Adjusted net earnings to provide insight into operating profitability and results.
Badger’s forward-looking statements include plans to renew the NCIB, expectations for growth opportunities, leveraging customer relationships, and focusing on operational efficiency. The company aims to meet customer demands, manage financial leverage, and invest in fleet growth and manufacturing capabilities. Risks include economic conditions, competition, and regulatory factors that may impact operations and financial results.
Read more at GlobeNewswire: Badger Infrastructure Solutions Ltd. Delivers Double Digit