Major Drilling Announces Record Quarterly Revenue for Its First Quarter 2027

This section is Partnership Content supplied by GlobeNewswire MONCTON, New Brunswick, Sept. 02, 2026 (GLOBE NEWSWIRE) — Major Drilling Group International Inc. (“Major Drilling” or the “Company”) (TSX: MDI), the largest provider of drilling services to the mining sector, today reported results for the first quarter of Fiscal 2027, ended July 31, 2026. Quarterly Highlights: Record quarterly revenue of $277.3 million, representing an 18.7% increase from the prior quarter and a 22.4% increase when compared to the same period last year. Adjusted gross margin(1) of 24.0%, an increase from the 22.0% recorded in the prior quarter, though below the 25.2% recorded for the same period last year. Generated EBITDA(1) of $37.2 million, a 15.9% increase when compared to the $32.1 million recorded for the same period last year. Net earnings of $14.5 million (or $0.18 per share), a 43.6% increase when compared to net earnings of $10.1 million (or $0.12 per share) recorded for the same period last year. “The Company started the fiscal year on a strong note, with each region contributing double-digit revenue growth when compared to the prior year period. This was primarily driven by the deployment of additional rigs into the field throughout the quarter, combined with a gradually improving pricing environment. As a result, revenue increased by 22.4% year-over-year to $277.3 million, setting a new quarterly record in the Company’s 46-year history,” said Denis Larocque, President and CEO of Major Drilling. “Activity in Canada and the US continued to accelerate following prior exploration budget increases by senior mining customers. Growth was driven by both the award of new contracts and the addition of rigs to existing projects as customers expanded their drilling programs. Juniors are increasingly deploying capital following the significant increase in financing activity earlier in the calendar year. Activity levels in the South and Central American region continued to increase, driven primarily by incremental growth in Peru, while Mexico, Argentina, and Brazil also saw increases in activity levels. The Australasia and Africa segment also saw meaningful growth, driven primarily by Australia, where senior mining companies continued to increase their exploration efforts through expanded drill programs,” Mr. Larocque continued. “The adjusted gross margin of 24.0% in the quarter marked further improvement from the 22.0% realized in the prior quarter, reflecting…