Major Drilling Group International Inc T.MDI

A beat on revenue and eps

[Dunworkin2]

Major Drilling Group International Inc. (MDI-T) reported revenue of $170.7-million, up 50 per cent compared to the same period last year and ahead of expectations of $162.5-million.

Net earnings of $14.3-million or 17 cents per share, which the company said was its highest in nine years and up about 100 per cent from the same period last year, which was $7-million or 9 cents per share. Analysts were expecting earnings of 16 cents

[FrozenInOntario]

And their outlook appears to be pretty bullish as per Larocque.  Understand that copper miners are still not releasing their bugets for next year.   2922 will be a very busy year.   And as was mentionned in previous conference calls, we are only at the beginning of a multi year bull market.  Interesting to see that at the begining of a upcycle they are already

[Dunworkin2]

  Add to the mix companies like SPOT and WIN who exist to help miners drill in the optimal locations. Will be an interesting period going foreword. I too expected a better reaction to the quarterly results but the markets were very jittery last week. 

[FrozenInOntario]

I only catched the end of today Laurentian Bank conference.    Larocque was mentionning that every new drilling contract was gettting signed at higher rates. So lets see what happens in the near future... GLTA