The following is a summary of the Badger Infrastructure Solutions Ltd. (BADFF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Badger Infrastructure reported record Q1 2024 revenues of $161.6 million, a 13% increase, majorly credited to a 19% revenue jump in U.S. operations.

• Adjusted EBITDA grew 22% year-over-year, due to improved operating leverage and effective cost management, lifting the adjusted EBITDA margin to 18.1% from the previous 16.7%.

• Quarterly revenue per truck per month (RPT) was $36,904, showing a slight decrement due to a Canadian market slowdown.

• The adjusted earnings per share rose by 27% compared to previous year, standing at $0.14 per share for Q1.

• Despite market challenges, the progress in key financial metrics highlights the company's growth.

Business Progress:

• Badger upgraded its fleet's safety by incorporating machine learning AI technology to foster safe driving habits.

• Maintained its growth in adjusted EBITDA and revenue, countering the slowdown in the Canadian market.

• The current quarter saw the production of 52 hydrovacs, retirement of 66 units, and 8 units underwent refurbishment.

• The upcoming year is expected to witness the manufacture of 190 to 220 hydrovacs, retirement of 70 to 90 units, and refurbishment of 35 to 45 hydrovacs.

• Badger is leveraging technology and data management to bolster operations and enhance efficiency.

• The focus on retiring some of its fleet, sustaining growth in margins, and mitigating market competition highlights the strategic positioning of the company.

More details: BADGER INFRASTRUCTURE SOLUTIONS LTD IR

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