Contract driller Orbit Garant's Q1 net earnings fall-April 2024-www.financetom.com

Contract driller Orbit Garant's Q1 net earnings fall

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Contract driller Orbit Garant's Q1 net earnings fall

Nov 12, 2025 2:27 PM

Overview

* Orbit Garant fiscal Q1 2026 revenue fell 3.7% yr/yr due to project completions and delays

* Net earnings for fiscal Q1 2026 dropped significantly to C$0.3 mln from $2.9 mln yr/yr

* Company anticipates growth from resumed projects and increased demand in Canada and South America

Outlook

* Orbit Garant expects to benefit from resumed projects in Canada and South America in Q2

* Demand for drilling services increasing due to high gold and copper prices

* Company anticipates increased drilling activity from clients over next 12 months

Result Drivers

* PROJECT COMPLETIONS AND DELAYS - Co says completion of certain projects and client-initiated delays impacted Q1 results

* INCREASED DEMAND - Co sees rising demand for drilling services due to high gold and copper prices

* OPERATIONAL CAPACITY - Co has capacity to meet increased demand with minimal mobilization costs

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q1 C$46.70

Revenue mln

Q1 Net C$300,00

Income 0

Q1 17.00%

Adjusted

Gross

Margin

Q1 C$3.90

EBITDA mln

Q1 Gross C$5.70

Profit mln

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(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.)

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