Nov 14, 2024 / 03:00PM GMT
Pierre Alexandre Forage Orbit Garant Inc-President - Chief Executive Officer, Director
Compared to Q1 last year as operating earnings increased in both our canadian and international operations in Canada. Our drilling activity increased year over year and the proportion of higher margin, specialized drilling activity was also higher.
Our performance in Canada in Q1 last year was impacted by temporary project suspension due to the forest fire in Quebec as well as our customer decision to temporarily suspend or reduce activity on certain other projects. We had no comparable disruption in Q1 this year.
In our international operations, we benefit from increased activity in Chile and Guyana in Q1 this year and the cessation of our operations in West Africa which were largely unprofitable for us.
Our total revenue in the quarter was $48.4 million. An increase of 9.3% compared to Q1 last year adjusted gross margin increased to 19.7% from 15.2% last year.
Net earnings were $3.2 million or 8 cents per share the most we have generated in any quarter since Q1 of
Q1 2025 Forage Orbit Garant Inc Earnings Call Transcript
Nov 14, 2024
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