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Orbit Garant Drilling
Orbit Garant Drilling (OGD) investor relations material
Orbit Garant Drilling Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary12 Feb, 2026
Executive summary
Q2 2026 revenue increased 10.5% year-over-year to CAD 47.9 million, driven by resumed and new drilling projects in Canada and South America, with increased specialized drilling in Canada.
Drill utilization rates reached their highest level in over two years, with further increases expected in Q3, though some gains may be delayed to Q4 due to winter weather.
Demand for drilling services remains strong, supported by record gold and high copper prices, with high billing activity on new projects.
Financial highlights
Q2 2026 revenue: CAD 47.9 million, up from CAD 43.5 million in Q2 2025; YTD 2026 revenue: CAD 94.6 million, up from CAD 91.9 million.
Gross profit was CAD 6.5 million (13.5% margin), down from CAD 7.2 million (16.5%) in Q2 2025; adjusted gross margin: 18.5% vs. 21.5%.
Adjusted EBITDA for Q2 2026: CAD 5.1 million, up from CAD 4.5 million; adjusted EBITDA margin: 10.5%.
Net earnings for Q2 2026: CAD 1.3 million (CAD 0.03/share diluted), up from CAD 0.5 million (CAD 0.01/share diluted) in Q2 2025.
Outlook and guidance
Utilization rate reached its highest in over two years and is expected to increase further in Q3, with some gains potentially realized in Q4 due to winter weather challenges.
Strong demand from both senior/intermediate and junior mining companies is expected to continue, with cost inflation anticipated for supplies, materials, and wages.
Increased junior exploration activity may positively impact pricing.
Strong business outlook for the second half of fiscal 2026 and into fiscal 2027, supported by robust commodity prices.
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Next Orbit Garant Drilling earnings date
Q3 20267 May, 2026
Orbit Garant Drilling
Next Orbit Garant Drilling earnings date
Q3 20267 May, 2026
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Frequently asked questions
Orbit Garant Drilling Inc is a Canadian company that provides drilling services to the mining and mineral exploration industry. The company offers surface and underground drilling, specialized geotechnical drilling, and customized equipment solutions. It operates in Canada and select international markets. Orbit Garant Drilling Inc is headquartered in Val-d'Or, Canada, and its shares are listed on the TSX.
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