EarningsQ2 2026 Earnings Report
DE:6BD0 Q2 2026 EPS Results
Actual EPS€0.62
Consensus EPS€0.58
Beat/MissBeat by +€0.04
One Year Ago EPS€0.49
DE:6BD0 Q2 2026 Revenue Results
Actual Revenue€227.32M
Expected Revenue€214.31M
Beat/MissBeat by +€13.01M
YoY Revenue Growth+23.46%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
DE:6BD0 Upcoming Earnings
Badger Infrastructure Solutions's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:6BD0 Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call signals strong operational and financial momentum: record organic revenue growth (+23% YoY), robust adjusted EBITDA growth (+25% YoY) and improved RPT (+14% YoY) driven by higher utilization, pricing momentum and analytics‑led operational gains. The company is investing to scale (new U.S. plant, service lines, hiring and operational programs) and has a solid balance sheet (C$300M bond, leverage ~1.5x EBITDA). Near‑term headwinds include investment‑related gross margin dilution (~50–70 bps), some early‑quarter delays capturing pricing in select markets, limited quantified backlog disclosure, and remaining uncertainty around U.S. plant capex/timing and tariff exposure. Overall, the positive operational results and balance sheet flexibility outweigh the near‑term investment and execution uncertainties.Company Guidance
Record Top-Line Growth
Second quarter revenue of $257.0 million, up 23% year‑over‑year, driven by broad-based demand across diverse end markets (LNG, semiconductors, hospitals, data centers, utilities, transportation, etc.).
Strong Adjusted EBITDA and Margin Expansion
Adjusted EBITDA of $66.1 million, up 25% year‑over‑year, with an adjusted EBITDA margin of 25.7% (up ~40 basis points versus prior year). Management expects margins to trend back toward the 25%–30% range by 2027.
Improved Revenue Per Truck (RPT)
Reported RPT of $47.7k per truck per month in Q2, up 14% year‑over‑year and above the company’s prior Investor Day target (~$43k converted), supported by higher utilization and pricing opportunities.
Fleet Expansion and Utilization Gains
Ended the quarter with ~1.82k hydrovacs (fleet +8% year‑over‑year). Red Deer manufacturing delivered 80 units in the quarter vs. 51 in the prior-year quarter. Company guiding fleet growth at the high end of a 7%–10% range for 2026 and intends to refurbish 30–50 units and retire 130–150 units.
Manufacturing Growth Strategy
Announced progress on a second U.S. manufacturing plant expected in late‑H2 2027 / early‑2028 to increase capacity, reduce tariff exposure, and provide operational redundancy; Red Deer plant quality reported at best levels historically.
Solid Balance Sheet and Financing Actions
Completed inaugural unsecured bond issuance of C$300 million 5.375% five‑year senior notes and used proceeds to pay down the credit facility; net leverage at ~1.5x EBITDA (midpoint of 1x–2x target) with ample undrawn capacity.
Shareholder Returns
Year‑to‑date NCIB purchases of 80.7k common shares at a weighted average price of $63.18; ongoing intention to renew the NCIB and continue dividends.
New Service Lines and Recurring Revenue Opportunities
Launched one complementary service line (industrial cleaning) with early adoption and margin performance in line with expectations; second service line planned to roll out in H2 2026. Management is working to better quantify recurring revenue from national account/MSA relationships.
Operational Excellence and Analytics Driving Performance
Deployment of Badger Analytics Platform (BAP) improving real‑time visibility, utilization, scheduling and ability to share efficiency data with customers — supporting utilization gains and pricing capture.
Earnings Per Share Growth
Adjusted EPS of $0.69, up 15% year‑over‑year.
DE:6BD0 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed