The following is a summary of the Badger Infrastructure Solutions Ltd. (BADFF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Badger Infrastructure Solutions Ltd. reported Q3 revenue of $209.4 million, a 7% increase year-over-year, predominantly driven by a 10% revenue growth in their U.S. operations.

• Adjusted EBITDA grew by 11% year-over-year, with margins increasing to 27.8% from 26.9% in the previous year.

• Adjusted earnings per share were $0.73, up 6% compared to the previous year.

Business Progress:

• Despite a slowdown in Canadian markets, U.S. operations continue to show robust growth, especially in the Eastern and Southern regions.

• Badger has slowed its rate of truck builds and expects full-year fleet growth at the lower end of its 7% to 10% guidance.

• Plans to increase the normal course issuer bid and continue key project wins across North America.

Opportunities:

• Prospective improvements in U.S. infrastructure spending and various project commencements pending political clarity from the U.S. elections.

• Continued strategic focus on growing in infrastructure, energy, and utility projects.

Risks:

• Regional slowdowns in growth, specifically in Canada and parts of the US such as California and Southwest markets.

• Potential impacts of political outcomes on project investments and operational strategies.

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