Canada's Major Drilling Q3 revenue rises

Major Drilling International

25/02/2026 22:12

Overview

Canada drilling services firm's Q3 revenue rose 14.9% yr/yr but missed analyst expectations

Company reported a net loss of C$10.8 mln, wider than last year's loss

Outlook

Major Drilling expects phased revenue increases as rigs are deployed at higher prices

Company anticipates stronger growth in exploration spending in Canada and the US

Major Drilling says labor shortages may slow margin improvement despite revenue growth

Result Drivers

CANADA-U.S. GROWTH - Revenue from Canada and U.S. operations increased by 56.7% due to longer-running programs and strategic initiatives

PREPARATORY COSTS - Adjusted gross margin fell due to costs related to labor retention, hiring, and equipment maintenance

SOUTH AMERICA STRATEGY - Termination of underperforming contracts in South America aimed at improving future profitability

Company press release: ID:nGNXhRmrv

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
C$184.60 mln
C$189.09 mln (3 Analysts)
Q3 EPS
-C$0.13
Q3 Net Income
-C$10.8 mln
Q3 Adjusted Gross Margin
14.3%
Q3 EBITDA
C$5.1 mln


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.)