Major Drilling Group International Posts Higher Profit, Revenue for Fiscal Fourth Quarter
Major Drilling Group International (MDI.TO) after trade Wednesday said its fiscal fourth-quarter profit and revenue rose year-over-year.The company earned $8.2 million, or $0.10 per share, in the period, up from $1 million, or $0.01, a year ago. FactSet expected $0.08 per share.Revenue rose 25% to $233.7 million from $187.5 million in the year-ago quarter. FactSet projected $228.9 million."The unfavourable foreign exchange translation impact on revenue for the quarter, when compared to the effective rates for the same period last year, was approximately $1 million, with minimal impact on net earnings as expenditures in foreign jurisdictions tend to be in the same currency as revenue," the company said, adding that revenue from Canada-U.S. drilling operations rose 66.5% to $97.9 million, and South and Central American revenue climbed 3.5% to $91.1 million year-over-year," thr company said.Looking ahead, Chief Executive Denis Larocque said, "margin expansion is expected to lag revenue growth at the beginning of fiscal 2027 as pricing catches up and outpaces initial cost increase".The company projects to incur about $75 million in capital expenditures in fiscal 2027, broadly in line with the capex guidance provided in previous years, Chief Financial Officer Ian Ross added.
