Canada's BluMetric Environmental Q3 revenue jumps on acquisitions, WaterTech growth

BluMetric Environmental

26/08/2026 23:09

Overview
Canada water technology firm's fiscal Q3 revenue rose 43% yr/yr, driven by acquisitions and WaterTech USA
Adjusted EBITDA for fiscal Q3 more than tripled yr/yr as operating leverage improved
Net loss widened due to higher non-cash depreciation, amortization and share compensation costs

Outlook
Company expects Q4 to be the strongest quarter for Professional Services due to seasonality
BluMetric is expanding WaterTech USA's manufacturing capacity to meet U.S. and Caribbean demand
Company is pursuing more Mining sector work and preparing to bid for larger Military contracts

Result Drivers
WATERTECH USA AND ACQUISITIONS - Revenue growth was mainly driven by WaterTech USA, acquisition of DS Consultants and Whitteker Environmental, and improved Professional Services utilization
MINING SECTOR DEMAND - Mining market revenues increased 63% in the fiscal quarter, reflecting increasing demand for higher-value technical and consulting services in Northern Ontario and Quebec
INVESTMENTS AND OVERHEAD - Investments in WaterTech USA's O&M services and larger overhead to support growth partly offset operating leverage gains

Company press release: ID:nNFCqmQwr

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
C$20.92 mln
 
Q3 Loss Per Share
 
C$0.01
 
Q3 Net Earnings
 
-C$756,000
 
Q3 Adjusted EBITDA
 
C$1.06 mln
 
Q3 Operating Loss
 
C$836,000
 

Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the environmental services & equipment peer group is "buy."
Wall Street's median 12-month price target for Blumetric Environmental Inc is C$3.00, about 172.7% above its August 26 closing price of C$1.10
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

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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.)