Major Drilling Group International Inc. (MDI:CA) Q4 2026 Earnings Call Transcript

Major Drilling Group International Inc. (TSX:MDI) - Q4/26 Beat and Record FY/26 Revenue Sets Stage for Future Growth - Research Portal

Major Drilling (MDI) announced financial results for Q4 and full year 2026, ending Apr 30, 2026. Q4/26 EPS of $0.10 was in line with both RCS and consensus estimates of $0.10 and $0.09, respectively. Revenue increased by 25% YoY to $233.7M (vs RCS est. of $230.8M) with slightly higher utilization rates of 53%. EBITDA increased 36% YoY to $28.0M, as a result of operating leverage and improved pricing, offset by ongoing pressures from higher labour, ramp-up and consumable costs. We view Q4/26 as a solid quarter with revenue beat, EPS in line, and an improving balance sheet. The demand backdrop remains strong with higher gold and copper prices, translating to increased exploration activity, particularly in North America. Record annual revenue continues to validate our thesis, but persistent margin compression remains the key challenge. We are expecting sustained revenue growth in FY/27; however, margin compression may linger in H1/27 as indicated by management. With strong metal prices, healthy junior financing activity and expanding exploration budgets from the majors, we continue to like the Major Drilling story.

Major Drilling Group International Inc. (MDI:CA) Q4 2026 Earnings Call Transcript

Follow Play Earnings CallPlay Earnings Call Major Drilling Group International Inc. (MDI:CA) Q4 2026 Earnings Call June 11, 2026 8:00 AM EDT Company Participants Ryan HanleyDenis Larocque – President, CEO & Non-Independent DirectorIan Ross – Chief Financial Officer Conference Call Participants Gordon Lawson – Paradigm Capital Inc., Research DivisionDonangelo Volpe – Beacon Securities Limited, Research Division Presentation Operator Good da…