Capital (CAPD) Q2 2026 TU earnings summary
Event summary combining transcript, slides, and related documents.
Q2 2026 TU earnings summary
16 Jul, 2026Executive summary
Achieved record Q2 2026 revenue of $117.3 million, up 34.2% year-over-year and 15.3% sequentially from Q1 2026.
H1 2026 revenue reached $219.0 million, a 37.6% increase over H1 2025.
Strong operational performance across all divisions, with portfolio optimization actions underway.
Financial highlights
Drilling and associated revenue in Q2 2026 was $68.0 million, up 7.9% year-over-year and 8.3% sequentially.
Mining revenue surged to $25.5 million, up 264.3% year-over-year and 41.7% sequentially.
MSALABS revenue was $23.8 million, up 36.8% year-over-year and 13.9% sequentially.
Outlook and guidance
Full-year 2026 revenue guidance reiterated at $410–$440 million, reflecting strong demand and diversification.
H1 outperformance will be largely offset by one-off demobilisation costs at NGM and Sadiola.
Three new MSALABS laboratories expected to be commissioned in H2 2026.
Latest events from Capital
- 2023 growth and Tier 1 wins underpin a $355m-$375m revenue target for 2024.CAPD
H2 2023 - Q3 revenue rose 23.2% YoY; 2026 guidance increased to $435–$455m.CAPD
Q3 2026 TU - Revenue up 37.6% and guidance raised, driven by strong contracts and MSALABS growth.CAPD
H1 2026 - Record revenue, 2026 guidance, lab expansion, and strategic growth amid strong demand.CAPD
AGM 2026 - Record Q1 revenue and new contracts drive strong 2026 outlook despite portfolio volatility.CAPD
Q1 2026 TU - NPAT up 317.6% on investment gains, with 2026 revenue guidance at $410–440m and strong demand.CAPD
H2 2025 - Revenue up 9.8%, margins down; growth expected from new contracts and US expansion.CAPD
H1 2024 - 2024 revenue guidance is $355–$375 million, with key resolutions and growth across business pillars.CAPD
AGM 2024 - Record 2024 revenue, with 2025 growth expected as Reko Diq and MSALABS ramp up.CAPD
H2 2024