Q2 2026 Orbit Garant Drilling Inc Earnings Call Transcript

Feb 12, 2026 / 03:00 PM GMT

Release Date Price: C$2.01 (+13.56%)

Transcript

Key Points

Positve

International revenue increased by 12.1% compared to Q2 last year, driven by increased drilling activity in Chile and Guyana.
Adjusted EBITDA rose to $5.1 million from $4.5 million in Q2 last year, primarily due to lower income tax expenses and favorable foreign exchange variations.
Net earnings for the quarter increased to $1.3 million or $0.03 per share diluted, compared to $0.5 million or $0.01 per share diluted in Q2 last year.
The company repaid a net amount of $3.3 million on its credit facility during the quarter, showing a commitment to reducing debt.
The company has a strategic focus on senior and well-financed intermediate customers in Canada and South America, which is expected to capitalize on opportunities during periods of elevated customer demand.

Negative

Gross profit decreased to $6.5 million or 13.5% of revenue, down from $7.2 million or 16.5% of revenue in Q2 2025.
Adjusted gross margin excluding depreciation expenses fell to 18.5% from 21.5% in Q2 last year, due to lower drilling productivity and a competitive pricing environment.
Revenue was constrained by a customer decision to temporarily delay one project and unexpected modifications to another program.
The company expects to experience cost inflation related to supply, material, and wages, which may impact future contracts and renewals.
Increased debt in the first half of fiscal 2026 was attributed to yearly shipments of equipment and inventory, indicating potential cash flow challenges.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

OGD.TO - Orbit Garant Drilling Inc
Q2 2026 Orbit Garant Drilling Inc Earnings Call
Feb 12, 2026 / 03:00PM GMT

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Presentation
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An increase of 9.8% compared to Q2 last year, reflecting increased drilling activity and a higher proportion of specialized drilling.

International revenue total 14.1 million, an increase of 12.1% compared to Q2 a year ago, reflecting increased drilling activity in both Chile and Guaya.

Though our revenue was constrained in the quarter by a customer decision to temporarily delay one project and unexpected modifications to another program.

The project that was temporarily delayed by a customer decision was fully resumed in January 2026.

Gross profit was $6.5 million or 13.5% of revenue compared to $7.2 million or 16.5% of revenue in QT 2025.

Adjusted gross margin excluding

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