The drilling services provider reported a 22% annual revenue increase, driven by higher activity across North America and Latin America.
Major Drilling Group International (TSE:MDI) reported fiscal 2026 revenue of CAD 889 million, a 22% year-over-year increase and the highest in its 46-year history. The gain was supported by stronger drilling demand across all regions, executives said during an earnings call.
Fourth-quarter revenue rose 24.6% to CAD 233.7 million from CAD 187.5 million a year earlier. Growth was led by a 67% surge in North American revenue, fueled by expanded exploration budgets from senior miners and increased financing for junior miners. Activity also climbed in South and Central America, particularly in Peru.
The company highlighted a safety record with a Total Recordable Incident Frequency Rate of 0.85 for the year, reinforcing its industry leadership position.