UK's Capital Q1 revenue rises 41.6% to record high

Capital

21/04/2026 07:12

Overview

UK mining services firm's Q1 2026 revenue rose 41.6% yr/yr to $101.7 mln, a record high

Company growth driven by new mining contracts and increased drilling activity

2026 revenue guidance reiterated at $410-$440 mln

Outlook

Capital reiterates 2026 revenue guidance of $410-440 mln

Company expects full run rates at both mining contracts later in 2026

Capital sees strong tendering activity driven by record commodity prices and capital markets activity

Result Drivers

MINING CONTRACTS - Mining revenue increased sharply, driven by the start of a second contract at Sukari and continued operations at Reko Diq

DRILLING CONTRACT WINS - Drilling revenue rose as new contracts were awarded and average monthly revenue per operating rig increased

LABORATORY EXPANSION - Laboratory revenue grew with higher utilisation and the opening of a new commercial lab in Newfoundland

Company press release: ID:nRSU2019Ba

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$101.70 mln


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the mining support services & equipment peer group is "buy."

Wall Street's median 12-month price target for Capital Ltd is GBp180.00, about 44% above its April 20 closing price of GBp125.00

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 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.)