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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.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.
- Q4 margins exceeded 20% as West Africa exit and Chile gains narrowed losses.OGD
Q4 202420 Jan 2026 - Net earnings hit CAD 3.2M on 9.3% revenue growth, with margin and segment gains.OGD
Q1 202513 Jan 2026 - Directors elected, auditor reappointed, and strategic shift drives record Q1 profit.OGD
AGM 202411 Jan 2026 - Profitability surged on higher margins and record gold prices, supporting a strong outlook.OGD
Q2 202524 Dec 2025 - Directors and auditor reappointed; FY2025 profit up, with strong outlook despite Q1 delays.OGD
AGM 20254 Dec 2025 - Q3 revenue rose 3.9% and net earnings increased 35% on international growth and FX gains.OGD
Q3 202521 Nov 2025 - Q1 revenue and margins fell, but rising demand and project resumptions point to a stronger outlook.OGD
Q1 202617 Nov 2025 - Record net earnings and margin growth in fiscal 2025, fueled by strong gold and copper demand.OGD
Q4 202525 Sep 2025 - Profitability and margins improved as strong gold and copper prices drove drilling demand.OGD
Investor Presentation25 Jun 2025
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