Canada's Orbit Garant Q2 revenue rises

Orbit Garant Drilling

11/02/2026 22:12

Overview

Canada mineral driller's Q2 revenue rose 10.5% yr/yr, driven by increased drilling activity

Gross profit and margins declined due to competitive pricing and project delays

Net earnings improved to C$1.3 mln, aided by lower taxes and favorable forex

Outlook

Company expects further increases in drill utilization rates in fiscal third quarter

Orbit Garant sees strong customer demand due to record gold and high copper prices

Result Drivers

PROJECT RESUMPTION - Full resumption of delayed projects in Canada and South America contributed to revenue growth

COMPETITIVE PRICING - Competitive pricing on new contracts and renewals in Canada affected margins

INCREASED DEMAND - Intensifying demand from mining customers in Canada and South America supported drilling activity

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
C$47.9 mln
Q2 EPS
C$0.03
Q2 Net Income
C$1.3 mln
Q2 Gross Margin
13.5%
Q2 Adjusted Gross Margin
18.5%
Q2 EBITDA
C$5.1 mln
Q2 Gross Profit
C$6.5 mln


Press Release: ID:nCNWH95jza

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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.)