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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