Badger Infrastructure Solutions reported quarterly EPS of C$0.81, 20.6% below the C$1.02 estimate. At the same time, supplemental coverage of the company’s release described record revenue and adjusted EBITDA growth.
Badger Infrastructure Solutions Ltd. (TSX: BDGI) reported results after the market close on November 5 for the quarter ended September 30, 2026. Calendar data shows EPS of C$0.81 against an estimate of C$1.02, a shortfall of C$0.21, or 20.6%. The available earnings data doesn’t include quarterly revenue or margins, so the EPS miss is the clearest confirmed measure. A supplemental headline describes record third-quarter revenue and adjusted EBITDA growth, but that should be checked against the company’s release. For Canadian investors, the key question is whether operating growth can translate into stronger earnings—and whether next quarter’s estimates hold up.
Recent earnings trend
Badger Infrastructure Solutions Ltd
BDGI.TO
BDGI.TO
Badger Infrastructure Solutions Ltd
WealthAwesomeMarket cap
$2.52B
P/E
28.9x
Div. yield
0.69%
Div. / share
$0.55
52W high
$102.12
52W low
$59.67
1W change
-10.58%
Beta
0.89
Analyst Price Targets
Based on analyst covering BDGI · as of Nov 9, 2026
Wall Street analysts forecast BDGI stock price to rise 67.7% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$125.37
+67.7% Upside
Previously C$113.41 on Oct 29, 2026
Current Price
C$74.74
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on BDGI's historical volatility
30-Day Vol
53.6%
Annualized
90-Day Vol
46.1%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$62.52
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$70.42 | C$58.52 – C$84.74 |
| 60 trading days | C$66.35 | C$51.07 – C$86.21 |
| 90 trading days | C$62.52 | C$45.37 – C$86.15 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 4 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 2 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-03-04 | — | 0.5300 | — |
| 2026-09-30 | 2026-11-05 | 0.8100 | 1.0200 | -20.6% |
| 2026-06-30 | 2026-07-30 | 0.6900 | 0.6500 | +6.2% |
| 2026-03-31 | 2026-04-30 | 0.2200 | 0.1900 | +15.8% |
| 2025-12-31 | 2026-03-05 | 0.4662 | 0.6400 | -27.2% |
| 2025-09-30 | 2025-11-05 | 0.9100 | 0.8700 | +4.6% |
Investor takeaway: BDGI missed the latest EPS estimate after beating estimates in the previous two reported quarters. It has now beaten estimates in two of its last four quarters. The next-quarter consensus estimates EPS of C$1.42 and revenue of US$372.64 million, but these are forecasts, not reported results. The shares closed at C$74.74, below their 50- and 200-day moving averages. Analyst targets and Wealth Awesome’s statistical forecast point in very different directions, highlighting uncertainty rather than providing a reliable price target.
C$0.81 EPS versus C$1.02 expected
Badger’s EPS came in C$0.21 below the calendar estimate, a 20.6% miss. The company beat estimates in the previous two quarters, but missed in December 2025. That leaves it with two beats in its last four reported quarters.
Bull case
The EPS miss doesn’t erase the recent growth signals in supplemental coverage. A headline about the company’s release reports that third-quarter revenue rose 21% year over year, adjusted EBITDA grew 25%, and the hydrovac fleet expanded 11%. The next-quarter consensus also forecasts year-over-year EPS growth of 10.4% and revenue growth of 11.2%. If that operating growth leads to sustained per-share earnings, the latest shortfall may matter less than the broader business trend.
Bear case
The EPS shortfall was significant, and BDGI has missed estimates in two of its last four reported quarters. The shares fell 19.8% over the month and closed below their 50- and 200-day moving averages. The next-quarter EPS estimate has risen only slightly over the past 30 days, with one downward revision and none upward. With a P/E of about 28.9 and a profit margin of 6.16%, investors will be watching to see whether growth can support the valuation.
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