Overview

* Badger Q2 revenue rises 11% to $208.2 mln, beating analyst expectations

* Adjusted EPS increases 33% to $0.60, surpassing estimates, per LSEG data

* Adjusted EBITDA of $52.7 mln beats expectations, reflecting margin expansion

Outlook

* Badger plans 4% to 7% hydrovac fleet growth in 2025

* Badger to renew NCIB for opportunistic share purchases

Result Drivers

* DISCIPLINED PRICING - Badger attributes revenue growth to disciplined pricing and targeted sales efforts during busy construction season

* FLEET UTILIZATION - Increased fleet utilization contributed to revenue growth, per CEO Rob Blackadar

* MARGIN EXPANSION - Adjusted EBITDA growth reflects focus on margin expansion and profitability

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $208.21 $197.10

Revenue mln mln (4

Analysts

)

Q2 Beat $0.6 $0.56 (4

Adjusted Analysts

EPS )

Q2 Net $18.50

Income mln

Q2 Beat $52.72 $50.40

Adjusted mln mln (6

EBITDA Analysts

)

Q2 25.3%

Adjusted

EBITDA

Margin

Q2 Basic $0.55

EPS

Q2 $24.37

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the construction & engineering peer group is "buy"

* Wall Street's median 12-month price target for Badger Infrastructure Solutions Ltd ( BDGIF ) is C$56.00, about 2.7% above its July 29 closing price of C$54.49

* The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)