Canada's Black Diamond Q3 revenue up 52% on resource development, infrastructure demand

Black Diamond

29/10/2026 22:43

Overview
Canada space rental and workforce accommodation firm's Q3 revenue rose 52%, beating analyst expectations
Adjusted EPS for Q3 rose 19% and beat analyst expectations
Company announced a 22% increase to its quarterly dividend after quarter end

Outlook
Company expects operating momentum to strengthen into 2027 with favourable demand in all geographies
Elevated activity in North America and Australia seen driving demand for workforce accommodations
Company sees continued growth opportunities in LodgeLink and stable rental revenue in Modular Space Solutions

Result Drivers
ROYAL CAMP CONTRIBUTION - Co said acquisition of Royal Camp drove growth in lodge services, rental and non-rental revenue within Workforce Solutions
LODGE LINK GROWTH - Co said record LodgeLink results were driven by increased customer acquisition and retention, with US market growth outpacing Canada
RESOURCE AND INFRASTRUCTURE DEMAND - Co said increased activity in resource development and infrastructure projects in western Canada and North America boosted demand for workforce accommodations

Company press release: ID:nGNXbzpTpp

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
C$159.90 mln
C$144.77 mln (6 Analysts)
Q3 Adjusted EPS
Beat
C$0.19
C$0.17 (3 Analysts)
Q3 Adjusted EBITDA
Beat
C$42.30 mln
C$39.59 mln (6 Analysts)
Q3 FFO
 
C$43.60 mln
 
Q3 Adjusted EBIT
Beat
C$23.60 mln
C$17.56 mln (2 Analysts)
Q3 Basic EPS
 
C$0.16
 
Q3 Capex
 
C$26.80 mln
 
Q3 Gross Profit
 
C$65.60 mln
 
Q3 Pretax Profit
 
C$13.80 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$22.50, about 14.4% above its October 29 closing price of C$19.66
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 25 three months ago

Reuters Recommended Reads
Oct 28 - Canadian oil firm Whitecap Resources' Q3 revenue rises on strong production, higher prices
Oct 28 - Canada's GFL Environmental Q3 revenue jumps 27% on acquisitions, lifts 2026 outlook
Oct 28 - Sterling Infrastructure Q3 revenue, profit more than doubles, driven by E-Infrastructure growth

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(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.)