MISRYOUM reports Badger’s first-quarter results show 18% revenue growth and 13% EBITDA growth amid rising demand in infrastructure end markets.
Badger’s commercial execution is translating into measurable growth, with first-quarter results pointing to sustained momentum as infrastructure demand continues to build.
In its latest update, Misryoum says Badger Infrastructure Solutions Ltd.. reported first-quarter revenue of $203.2 million, an 18% increase compared with the same period a year earlier.. Adjusted EBITDA rose 13% to $38.1 million, while revenue per truck per month increased to $39,009, up 11% year over year.
That mix matters because it suggests the company is not only winning more work, but also improving how effectively its fleet converts demand into results.
Operationally, Misryoum notes Badger purchased 47,373 common shares under its normal course issuer bid at a weighted average price of CAD$63.27.. The company also said its board approved a quarterly cash dividend of CAD$0.195 per common share for the second fiscal quarter of 2026, payable on or after July 15, 2026.
Looking ahead, Badger linked the quarter’s performance to strength across its core end markets and to customer demand that it expects to continue.. In particular, Misryoum reports the company said it is seeing extraordinary demand for non-destructive excavation and related services as it moves toward the busy season.
The practical impact is straightforward: when fleets and capacity are sized correctly for seasonal work, companies can better manage utilization and delivery without scrambling mid-year.
Badger also outlined steps to support that demand, including increasing its truck build into the upper end of a 270 to 310 range in 2026. Misryoum adds that the company plans to hire and train more operators alongside the higher build pace that began in the fourth quarter of 2025.
In its business outlook, Misryoum reports Badger expects fleet growth to stay within the higher end of its 7% to 10% range for 2026.. The company said it is rolling out an Operational Excellence program across its branches, and it plans to expand into two new service lines with capital spending estimated at about $15 million to $25 million as part of 2026 plans.
This matters for investors and customers alike because expanded service options and operational programs can help firms retain work during shifting project needs, rather than relying on a single service stream.
Misryoum also highlights that Badger pointed to uncertainty tied to the tariff and trade environment, including the effect of U.S.. heavy duty truck tariffs and the resulting implications for cross-border components.. At the same time, the company said it is pursuing strategies to mitigate tariff impacts while continuing to fund operations, working capital needs, and shareholder returns through dividends and its NCIB.
At the end of the day, Misryoum says the quarter reads as a case study in scaling: revenue and profitability rose while the company simultaneously prepared for higher demand through capacity, hiring, and planned service expansion.