Business
ORBIT GARANT REPORTS FISCAL 2026 THIRD QUARTER FINANCIAL RESULTS
Orbit Garant Drilling Inc. (TSX: OGD) ("Orbit Garant" or the "Company") today announced its financial results for the three and nine-month periods ended March 31, 2026 ("Q3 2026" and "YTD 2026", respectively). All dollar amounts are in Canadian dollars unless otherwise stated.
About this update from Orbit Garant Drilling Inc.
[{"type":"text","content":"̶ Company announces a major new specialized drilling contract in Canada expected to generate revenue exceeding $100 million over the initial five-year term ̶","length":158,"tagName":"p","attribs":{}},{"type":"text","content":"VAL-D'OR, QC, May 13, 2026 /CNW/ - Orbit Garant Drilling Inc. (TSX: OGD) ("Orbit Garant" or the "Company") today announced its financial results for the three and nine-month periods ended March 31, 2026 ("Q3 2026" and "YTD 2026", respectively). All dollar amounts are in Canadian dollars unless otherwise stated.","length":356,"tagName":"p"},{"type":"text","content":"The Company also announced today that, subsequent to the end of Q3 2026, it commenced mobilizing drill rigs for a new five-year specialized drilling contract in Canada with a major mining company. This contract also includes a client extension option for an additional two years. Management estimates that this project will generate revenue exceeding $100 million over the initial five-year term. Orbit Garant expects to finance the $20 million in required capital expenditures for modification or manufacturing of drill rigs and related inventory through its internally generated cash flows, an increase in available borrowings on its Credit Facility and by securing a new term loan.","length":689,"tagName":"p"},{"type":"text","content":"Financial Highlights","length":20,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;","val":[{"type":"text","content":"($ amounts in millions,","length":23,"tagName":"p","attribs":{}},{"type":"text","content":"except per share amounts)","length":25,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":"Three months endedMarch 31, 2026","length":33,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":"Three months endedMarch 31, 2025 ","length":33,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"t...