Canada's Black Diamond Q1 revenue rises on Royal Camp acquisition

Black Diamond

30/04/2026 23:36

Overview

Canada space rental and workforce accommodation firm's Q1 revenue rose 27%, beating analyst expectations

Q1 adjusted EBITDA rose 21% but missed analyst estimates

Basic EPS declined to C$0.04 due to higher expenses and increased shares outstanding

Outlook

Black Diamond expects consistent near-term results and accelerating growth in the second half of 2026

Company sees healthy demand in most North American markets but notes U.S. education funding uncertainty

Black Diamond highlights strong sales pipeline and significant financial flexibility for capital allocation

Result Drivers

ROYAL CAMP ACQUISITION - Revenue and adjusted EBITDA growth in Workforce Solutions driven by contributions from recently acquired Royal Camp Services

MSS FLEET AND RATE GAINS - Modular Space Solutions rental revenue rose on targeted fleet additions and higher average rental rates

SOFTENED LEGACY WFS ACTIVITY - Moderated activity in legacy Workforce Solutions operations weighed on EPS

Company press release: ID:nGNXcgZRGB

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
C$130 mln
C$123.53 mln (5 Analysts)
Q1 EPS
C$0.04
Q1 Adjusted EBITDA
Miss
C$32 mln
C$33.44 mln (6 Analysts)
Q1 FFO
C$30.20 mln
Q1 Adjusted EBIT
C$14.40 mln
C$14.67 mln (2 Analysts)
Q1 Basic EPS
C$0.04
Q1 Capex
C$16.80 mln
Q1 Gross Profit
C$54 mln
Q1 Pretax Profit
C$4.70 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the real estate rental, development & operations peer group is "buy"

Wall Street's median 12-month price target for Black Diamond Group Ltd is C$20.50, about 19.9% above its April 29 closing price of C$17.10

The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 19 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)