Major Drilling Achieves Record Revenue Amid Mining Sector Growth
Moncton, Wednesday, 10 December 2025.
Major Drilling Group International Inc. reported record revenue for Q2 2026, driven by strong demand in the mining sector. This highlights a significant recovery and expansion within the industry.
Quarterly Performance Highlights
Major Drilling Group International Inc. (TSX: MDI) has announced a record revenue of $244.1 million for the second quarter of fiscal 2026, ending on October 31, 2025, marking a 29.0% increase compared to the same quarter in the previous year [1]. This surge is attributed primarily to heightened demand in the mining sector, reflecting a robust recovery and expansion within the industry. The company reported an adjusted gross margin of 26.0%, which, although lower than the 30.5% reported in Q2 fiscal 2025, underscores the competitive pricing environment in North America and operational challenges faced in specific regions [1].
Regional Revenue Dynamics
Breaking down the revenue by region, the company saw a mixed performance. Revenue from the Canada-U.S. operations increased by 2.6% to $87.6 million, while South and Central American operations experienced a significant boost, with revenue skyrocketing by 125.5% to $110.7 million. This remarkable growth in South and Central America was largely fueled by the Explomin acquisition [1]. Conversely, the Australasian and African operations faced a decline, with revenue decreasing by 16.1% to $45.9 million due to a temporary shutdown of operations by a major customer in Indonesia [1].
Strategic Implications and Market Position
The record revenue achieved by Major Drilling is indicative of its strategic positioning within the global mining market. The increase in net cash position to $14.3 million, up by over $17.6 million from earlier in the year, highlights the company’s financial resilience and ability to leverage market opportunities effectively [1]. This financial milestone not only demonstrates the company’s strong market position but also reflects broader trends in the resource extraction industry, which is seeing renewed investment and growth [2][3].
Future Outlook
Looking ahead, Major Drilling is well-positioned to capitalize on ongoing demand for drilling services, driven by sustained mining activities and global economic recovery. The company’s proactive approach to expanding its operations and enhancing its service offerings ensures that it remains a key player in the industry. As the mining sector continues to recover and grow, Major Drilling’s strategic investments and acquisitions, such as that of Explomin, are expected to further bolster its market presence and financial performance [1].