The following is a summary of the Badger Infrastructure Solutions Ltd. (BADFF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Badger Infrastructure Solutions Ltd. reported Q2 2024 revenue of $186.8 million, with a 9% growth rate largely driven by their U.S. operations, which experienced a 14% increase year-over-year.

• Gross profit margins remained stable year-over-year at around 29.2%.

• Adjusted EBITDA improved by 14% compared to the previous year, with EBITDA margins increasing to 23.9% from 22.8%.

• Adjusted earnings per share increased by 18%, highlighting continued growth in profitability.

Business Progress:

• Badger added a net of 114 trucks to its fleet year-over-year, bringing the total to 1,584, marking an 8% growth in fleet size since Q2 of the previous year.

• The company is moderating the rate of hydrovac truck manufacturing and focusing on increasing fleet utilization and efficiencies.

• Introduced a new data analytics platform which is expected to serve as a catalyst for revenue growth and margin improvement.

• Continues to expand into various infrastructure projects across North America, including data center builds and light rail transit projects.

Opportunities:

• The company has strategic initiatives focused on expanding U.S. operations where it has seen significant growth, particularly in the Eastern and Southern regions.

• The introduction of the new data analytics platform is expected to enhance operational efficiency and drive business growth.

Risks:

• Revenue from Canadian operations decreased by 19% due to delayed project starts, with expectations that this downward trend might continue into early 2025.

More details: BADGER INFRASTRUCTURE SOLUTIONS LTD IR

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