Orbit Garant Drilling (TSX:OGD) Interest Expense : C$-3.6 Mil (TTM As of Mar. 2024)

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What is Orbit Garant Drilling Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Orbit Garant Drilling's interest expense for the three months ended in Mar. 2024 was C$ -0.9 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2024 was C$-3.6 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Orbit Garant Drilling's Operating Income for the three months ended in Mar. 2024 was C$ 2.6 Mil. Orbit Garant Drilling's Interest Expense for the three months ended in Mar. 2024 was C$ -0.9 Mil. Orbit Garant Drilling's Interest Coverage for the quarter that ended in Mar. 2024 was 2.90. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Orbit Garant Drilling Interest Expense Historical Data

The historical data trend for Orbit Garant Drilling's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Orbit Garant Drilling Interest Expense Chart

Orbit Garant Drilling Annual Data

Trend

Jun14

Jun15

Jun16

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Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Interest Expense

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-2.12

-2.69

-2.29

-2.24

-3.35

Orbit Garant Drilling Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Expense	Get a 7-Day Free Trial															-0.86	-0.92	-0.85	-0.88	-0.91

Orbit Garant Drilling Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was C$-3.6 Mil.

Orbit Garant Drilling (TSX:OGD) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Orbit Garant Drilling's Interest Expense for the three months ended in Mar. 2024 was C$-0.9 Mil. Its Operating Income for the three months ended in Mar. 2024 was C$2.6 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Mar. 2024 was C$34.5 Mil.

Orbit Garant Drilling's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Mar. 2024 )	/	Interest Expense (Q: Mar. 2024 )
	=	-1	*	2.637	/	-0.908
	=	2.90

The higher the ratio, the stronger the company's financial strength is.

Orbit Garant Drilling (TSX:OGD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Orbit Garant Drilling Inc (TSX:OGD) » Definitions » Interest Expense

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OBGRF:USA

Address

3200, Jean Jacques Cossette Boulevard, Val-d'Or, QC, CAN, J9P 6Y6

Website

http://www.orbitgarant.com

Orbit Garant Drilling Inc is a Canadian based drilling company providing services to mining companies through all stages of exploration, development, and production. The company operates a surface and underground diamond drilling business. The firm also manufactures conventional drill rigs while also manufacturing and providing other support equipment such as water recirculation systems, heat recovery systems, and fuel-efficient systems. The company operates in Canada, the United States, Central and South America, and West Africa. The majority of the company's revenue is derived from operations in Canada.

Executives

Alain Laplante

Senior Officer

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