Q2 2025 Badger Infrastructure Solutions Ltd Earnings Call Transcript
Key Points
- Badger Infrastructure Solutions Ltd (BDGIF) reported double-digit growth in revenue, gross profit, and adjusted EBITDA for Q2 2025.
- The company achieved a record Q2 top line revenue of $208.2 million, marking an 11% increase year-over-year.
- Adjusted EBITDA margin improved by 140 basis points to 25.3%, reflecting strong operating efficiencies.
- The company successfully increased its fleet by 6% since Q2 of the previous year, ensuring capacity to meet customer demand.
- Badger Infrastructure Solutions Ltd (BDGIF) maintained a strong balance sheet with a compliance leverage of 1.4 times debt to EBITDA, providing financial flexibility for growth and shareholder returns.
- The number of Hydrovacs manufactured in Q2 2025 was lower than the previous year, with 51 units produced compared to 59 in Q2 2024.
- The company faced challenges in refurbishing units, with refurbishments likely to be on the lower end of the projected range due to third-party constraints.
- Despite strong demand, the company paused its NCIB program due to a significant rise in share price, limiting share repurchase activities.
- There are pockets of pricing softness in certain markets, although overall pricing remains solid.
- The company is experiencing delays in refurbishments due to third-party limitations, impacting the refurbishment targets.
Ladies and gentlemen, thank you for standing by.
Welcome to the Badger Infrastructure Solutions Limited 2nd quarter 2025 results call.
During the presentation, all participants will be in listen-only mode.
For those that have dialed into the audio portion of this call, to ask a question during the live question and answer session, please press one to raise your hand. Please wait for me to say your name and company before asking your question.
For those listening through the webcast, attendees will be in listen-only mode. If you need technical assistance, please submit your request under the tech tab in the window on the right-hand side of your computer screen.
As a reminder, this event is being recorded today, July 31, 2025, and will be made available on the investor section of Badger's website.
I would now like to turn the call over to Anne Plasterer, director of investor relations.
Good morning everyone and
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