Contract driller Orbit Garant's Q1 net earnings fall

Orbit Garant Drilling

12/11/2025 22:10

Corrects currency to C$ from $ for year-ago net earnings figure in second bullet of Overview

Overview

Orbit Garant fiscal Q1 2026 revenue fell 3.7% yr/yr due to project completions and delays

Net earnings for fiscal Q1 2026 dropped significantly to C$0.3 mln from C$2.9 mln yr/yr

Company anticipates growth from resumed projects and increased demand in Canada and South America

Outlook

Orbit Garant expects to benefit from resumed projects in Canada and South America in Q2

Demand for drilling services increasing due to high gold and copper prices

Company anticipates increased drilling activity from clients over next 12 months

Result Drivers

PROJECT COMPLETIONS AND DELAYS - Co says completion of certain projects and client-initiated delays impacted Q1 results

INCREASED DEMAND - Co sees rising demand for drilling services due to high gold and copper prices

OPERATIONAL CAPACITY - Co has capacity to meet increased demand with minimal mobilization costs

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
C$46.70 mln
Q1 Net Income
C$300,000
Q1 Adjusted Gross Margin
17.00%
Q1 EBITDA
C$3.90 mln
Q1 Gross Profit
C$5.70 mln


Press Release: ID:nCNW1XP6ga

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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.)