Declared Dividend • 15h
First quarter dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 30th June 2026 Payment date: 15th July 2026 Dividend yield will be 1.1%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (33% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 12
Badger Infrastructure Solutions Ltd. Announces Appointment of Logan Mellott as Chief Operating Officer, Effective May 11, 2026 Badger Infrastructure Solutions Ltd. announced the appointment of Logan Mellott as Chief Operating Officer, effective May 11, 2026. Prior to this appointment, Mr. Mellott served as Senior Vice President, Operations, Strategic Initiatives and Fleet. Mr. Mellott is a revenue-driven executive known for scaling high-performing teams, aligning sales and operations, and delivering measurable results across complex, asset-heavy industries. Since joining Badger in 2021, Mr. Mellott has played a pivotal role in enhancing organizational performance, supporting growth, and fostering a results-driven culture, including recruiting top talent that has meaningfully strengthened the Company's field leadership teams. Market assessments conducted under his leadership have helped lay the foundation for the Company's next phase of strategic growth. Prior to Badger, Mr. Mellott held roles of increasing responsibility at Ritchie Bros. over a 15-year tenure, leading multinational teams in support of the construction, rental, and transportation industries. He contributed to key strategic initiatives, including mergers and acquisitions, international expansion, and the development of customer-facing technology solutions. Announcement • May 08
Badger Infrastructure Solutions Ltd. announced that it expects to receive CAD 300 million in funding Badger Infrastructure Solutions Ltd. announced a private placement offering for gross proceeds of CAD 300,000,000 on May 7, 2026. The company will issue senior unsecured notes due 2031, at a price of CAD 1,000 per CAD 1,000 principal amount of Notes, with an interest rate of 5.375% per annum. The offering is expected to close on or about May 14, 2026, subject to customary closing conditions. Announcement • May 03
Badger Infrastructure Solutions Ltd Approves A Quarterly Cash Dividend on Common Share for the Second Fiscal Quarter of 2026, Payable on or After July 15, 2026 Badger Infrastructure Solutions Ltd. board of directors has approved a quarterly cash dividend of CAD 0.195 per common share for the second fiscal quarter of 2026, to all shareholders of record at the close of business on June 30, 2026, with payment to be made on or after July 15, 2026. Announcement • Apr 04
Badger Infrastructure Solutions Ltd., Annual General Meeting, May 01, 2026 Badger Infrastructure Solutions Ltd., Annual General Meeting, May 01, 2026. Location: lumi experience studio, 1400, 225 - 6th avenue sw, ab t2p 1n2 ., calgary Canada Announcement • Apr 02
Badger Infrastructure Solutions Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Badger Infrastructure Solutions Ltd. announced that they will report Q1, 2026 results After-Market on Apr 30, 2026 Announcement • Mar 06
Badger Infrastructure Solutions Ltd. Approves Cash Dividend for the First Fiscal Quarter of 2026, Payable on or after April 15, 2026 The board of directors of Badger Infrastructure Solutions Ltd. has approved a 4% increase to the quarterly cash dividend from CAD 0.1875 per common share to CAD 0.195 per common share for the first fiscal quarter of 2026, to all shareholders of record at the close of business on March 31, 2026, with payment to be made on or after April 15, 2026. Announcement • Feb 09
Badger Infrastructure Solutions Ltd. to Report Q4, 2025 Results on Mar 05, 2026 Badger Infrastructure Solutions Ltd. announced that they will report Q4, 2025 results After-Market on Mar 05, 2026 Announcement • Nov 07
Badger Infrastructure Solutions Ltd. Approves Quarterly Cash Dividend for the Fourth Fiscal Quarter of 2025, Payable on or After January 15, 2026 Badger Infrastructure Solutions Ltd. board of directors has approved a quarterly cash dividend of CAD 0.1875 per common share for the fourth fiscal quarter of 2025, to all shareholders of record at the close of business on December 31, 2025, with payment to be made on or after January 15, 2026. Announcement • Oct 09
Badger Infrastructure Solutions Ltd. to Report Q3, 2025 Results on Nov 05, 2025 Badger Infrastructure Solutions Ltd. announced that they will report Q3, 2025 results After-Market on Nov 05, 2025 Announcement • Jul 31
Badger Infrastructure Solutions Ltd. Approves Cash Dividend for the Third Fiscal Quarter of 2025, Payable on or After October 15, 2025 Badger Infrastructure Solutions Ltd. announced that board of directors has approved a quarterly cash dividend of CAD 0.1875 per common share for the third fiscal quarter of 2025, with payment to be made on or after October 15, 2025, to all shareholders of record on September 30, 2025. Announcement • Jul 17
Badger Infrastructure Solutions Ltd. to Report Q2, 2025 Results on Jul 30, 2025 Badger Infrastructure Solutions Ltd. announced that they will report Q2, 2025 results After-Market on Jul 30, 2025 Announcement • Apr 30
Badger Infrastructure Solutions Ltd. Approves Quarterly Cash Dividend for the Second Fiscal Quarter of 2025, Payable Made on or After July 15, 2025 Badger Infrastructure Solutions Ltd. announced that the board of directors has approved a quarterly cash dividend of CAD 0.1875 per common share for the second fiscal quarter of 2025, with payment to be made on or after July 15, 2025, to all shareholders of record on June 30, 2025. Announcement • Apr 10
Badger Infrastructure Solutions Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Badger Infrastructure Solutions Ltd. announced that they will report Q1, 2025 results After-Market on Apr 29, 2025 Announcement • Mar 10
Badger Infrastructure Solutions Ltd., Annual General Meeting, Apr 30, 2025 Badger Infrastructure Solutions Ltd., Annual General Meeting, Apr 30, 2025. Announcement • Mar 06
Badger Infrastructure Solutions Ltd. Declares Quarterly Cash Dividend for the First Fiscal Quarter of 2025, Payable on or About April 15, 2025 The board of directors of Badger Infrastructure Solutions Ltd. has approved a 4.2% increase to the quarterly cash dividend from CAD 0.18 per common share to CAD 0.1875 per common share effective the first fiscal quarter of 2025, with payment to be made on or about April 15, 2025, to all shareholders of record at the close of business on March 31, 2025. Announcement • Feb 21
Badger Infrastructure Solutions Ltd. to Report Q4, 2024 Results on Mar 05, 2025 Badger Infrastructure Solutions Ltd. announced that they will report Q4, 2024 results After-Market on Mar 05, 2025 Announcement • Dec 19
Badger Infrastructure Solutions Ltd. Announces Appointment of George Williams to Board of Directors, Effective January 1, 2025 Badger Infrastructure Solutions Ltd. announced the appointment of George Williams to the Company’s Board of Directors, effective January 1, 2025. George is the former chair and Chief Executive Officer of PMI Energy Solutions. He has 40+ years in the utility industry and hands-on operations experience from executive and senior leadership roles at El Paso Electric Company, Exelon Corporation, Entergy Corporation, PPL Corporation and Progress Energy. George has a history of nonprofit, private and public company board service. In 2024, George began serving on the Board of Directors for Capital Power Corporation, a TSX-listed, multi-billion-dollar independent power producer, where he is a member of the People, Culture and Governance Committee and the Health, Safety and Environmental Committee. Additionally, in 2023, George returned to the Board of Directors for UL Solutions Inc., a NYSE-listed, multi-billion-dollar international testing, inspection and certification company, where he is a member of the Nominating and Corporate Governance Committee and the Human Capital and Compensation Committee, and formerly served on the Auditing, Public Safety and External Affairs, and Finance committees. George currently serves as the Chairman of the Board of Trustees for the UL Research Institutes, and formerly served as the chair of its Governance and Compensation Committee. George also served on the Board of Directors for the American Association of Blacks in Energy (AABE), including as Chairman, as well as the Illinois Black Chamber of Commerce, Quad County Urban League, Black Creativity Advisory Board for the Chicago Museum of Science & Industry, Middle States Electrical Contractors Association, and Tuskegee Next Board of Directors. George, who resides in Naperville, Illinois, holds a Master of Business Administration from Saint Joseph’s University and a Bachelor of Science in Electrical Engineering from Widener University. Announcement • Dec 13
Badger Infrastructure Solutions Ltd. Announces Fourth Quarter 2024 Cash Dividend, Payable on or About January 15, 2025 Badger Infrastructure Solutions Ltd. announced that the Board of Directors of Badger approved a quarterly cash dividend for the fourth quarter of 2024 of $0.18 per common share, which equates to $0.72 per common share on an annualized basis. Payment will be made on or about January 15, 2025, to shareholders of record on December 31, 2024. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.68 (vs US$0.68 in 3Q 2023) Third quarter 2024 results: EPS: US$0.68 (up from US$0.68 in 3Q 2023). Revenue: US$209.4m (up 7.1% from 3Q 2023). Net income: US$23.3m (flat on 3Q 2023). Profit margin: 11% (in line with 3Q 2023). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 29
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.7% to €26.60. The fair value is estimated to be €22.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 92%. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 119% in the next 2 years. Buy Or Sell Opportunity • Oct 09
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 6.5% to €26.20. The fair value is estimated to be €21.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 92%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 121% in the next 2 years. Upcoming Dividend • Sep 20
Upcoming dividend of CA$0.18 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 15 October 2024. Payout ratio is a comfortable 43% but the company is paying out more than the cash it is generating. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (3.6%). Declared Dividend • Aug 11
Second quarter dividend of CA$0.18 announced Shareholders will receive a dividend of CA$0.18. Ex-date: 27th September 2024 Payment date: 15th October 2024 Dividend yield will be 2.3%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (43% earnings payout ratio) but not covered by cash flows (128% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: US$0.34 (vs US$0.32 in 2Q 2023) Second quarter 2024 results: EPS: US$0.34 (up from US$0.32 in 2Q 2023). Revenue: US$186.8m (up 8.7% from 2Q 2023). Net income: US$11.9m (up 8.1% from 2Q 2023). Profit margin: 6.4% (in line with 2Q 2023). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Jul 09
Badger Infrastructure Solutions Ltd. to Report Q2, 2024 Results on Aug 01, 2024 Badger Infrastructure Solutions Ltd. announced that they will report Q2, 2024 results After-Market on Aug 01, 2024 Declared Dividend • May 06
First quarter dividend of CA$0.18 announced Shareholders will receive a dividend of CA$0.18. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 1.9%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but not covered by cash flows (429% cash payout ratio). The dividend has increased by an average of 4.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 02
First quarter 2024 earnings released: EPS: US$0.052 (vs US$0.08 in 1Q 2023) First quarter 2024 results: EPS: US$0.052 (down from US$0.08 in 1Q 2023). Revenue: US$161.6m (up 13% from 1Q 2023). Net income: US$1.78m (down 36% from 1Q 2023). Profit margin: 1.1% (down from 1.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • May 02
Badger Infrastructure Solutions Ltd. Announces Quarterly Cash Dividend for the Second Fiscal Quarter of 2024, Payable on or After July 15, 2024 The Board of Directors of Badger Infrastructure Solutions Ltd. has approved the quarterly cash dividend of CAD 0.18 per common share for the second fiscal quarter of 2024, with payment to be made on or after July 15, 2024, to all shareholders of record on June 30, 2024. Announcement • Apr 03
Badger Infrastructure Solutions Ltd. to Report Q1, 2024 Results on May 01, 2024 Badger Infrastructure Solutions Ltd. announced that they will report Q1, 2024 results After-Market on May 01, 2024 Upcoming Dividend • Mar 20
Upcoming dividend of CA$0.18 per share Eligible shareholders must have bought the stock before 27 March 2024. Payment date: 15 April 2024. Payout ratio is a comfortable 43% and the cash payout ratio is 89%. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.0%). Declared Dividend • Mar 07
Fourth quarter dividend of CA$0.18 announced Shareholders will receive a dividend of CA$0.18. Ex-date: 27th March 2024 Payment date: 15th April 2024 Dividend yield will be 1.9%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (88% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 68% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: US$1.21 (vs US$0.53 in FY 2022) Full year 2023 results: EPS: US$1.21 (up from US$0.53 in FY 2022). Revenue: US$683.8m (up 20% from FY 2022). Net income: US$41.8m (up 128% from FY 2022). Profit margin: 6.1% (up from 3.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Mar 01
New major risk - Revenue and earnings growth Earnings have declined by 29% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risk High level of debt (69% net debt to equity). Upcoming Dividend • Dec 21
Upcoming dividend of CA$0.17 per share at 1.7% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 15 January 2024. Payout ratio is a comfortable 42% but the company is paying out more than the cash it is generating. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (3.9%). Recent Insider Transactions • Dec 04
VP of Legal recently bought €175k worth of stock On the 1st of December, Reid Yester bought around 6k shares on-market at roughly €27.99 per share. This transaction increased Reid's direct individual holding by 10x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €1.8m more in shares than they bought in the last 12 months. Recent Insider Transactions • Nov 12
Independent Chair of the Board recently sold €792k worth of stock On the 8th of November, Glen Roane sold around 30k shares on-market at roughly €26.41 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Glen has been a net seller over the last 12 months, reducing personal holdings by €1.2m. Recent Insider Transactions • Nov 09
Independent Chair of the Board recently sold €261k worth of stock On the 7th of November, Glen Roane sold around 10k shares on-market at roughly €26.13 per share. This transaction amounted to 8.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Glen has been a net buyer over the last 12 months, purchasing a net total of €9.6k worth of shares. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: US$0.68 (vs US$0.42 in 3Q 2022) Third quarter 2023 results: EPS: US$0.68 (up from US$0.42 in 3Q 2022). Revenue: US$195.6m (up 20% from 3Q 2022). Net income: US$23.3m (up 60% from 3Q 2022). Profit margin: 12% (up from 8.9% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Oct 28
Badger Infrastructure Solutions Ltd. to Report Q3, 2023 Results on Nov 02, 2023 Badger Infrastructure Solutions Ltd. announced that they will report Q3, 2023 results at 5:00 PM, US Mountain Standard Time on Nov 02, 2023 Recent Insider Transactions • Oct 05
Insider recently bought €145k worth of stock On the 28th of September, Leon Walsh bought around 6k shares on-market at roughly €23.97 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.4m more in shares than they have sold in the last 12 months. Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.17 per share at 2.0% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 16 October 2023. Payout ratio is a comfortable 52% but the company is paying out more than the cash it is generating. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (3.8%). Recent Insider Transactions • Aug 11
Independent Chair of the Board recently sold €234k worth of stock On the 9th of August, Glen Roane sold around 10k shares on-market at roughly €23.39 per share. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Glen has been a net buyer over the last 12 months, purchasing a net total of €510k worth of shares. Announcement • Aug 04
Badger Infrastructure Solutions Ltd. Declares Cash Dividend for the Third Fiscal Quarter of 2023, Payable on or About October 16, 2023 The board of directors of Badger Infrastructure Solutions Ltd. has approved the quarterly cash dividend of $0.1725 per share for the third fiscal quarter of 2023, with payment to be made on or about October 16, 2023, to all shareholders of record at the close of business on September 29, 2023. Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: US$0.32 (vs US$0.14 in 2Q 2022) Second quarter 2023 results: EPS: US$0.32 (up from US$0.14 in 2Q 2022). Revenue: US$171.9m (up 19% from 2Q 2022). Net income: US$11.0m (up 129% from 2Q 2022). Profit margin: 6.4% (up from 3.3% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 2.8% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year. Announcement • Aug 03
Badger Infrastructure Solutions Ltd. to Report Q2, 2023 Results on Aug 03, 2023 Badger Infrastructure Solutions Ltd. announced that they will report Q2, 2023 results at 5:00 PM, US Mountain Standard Time on Aug 03, 2023 Buying Opportunity • Jul 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be €22.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 16% in a year. Earnings is forecast to grow by 74% in the next year. Recent Insider Transactions • Jun 25
CEO, President & Director recently bought €176k worth of stock On the 22nd of June, Robert Blackadar bought around 10k shares on-market at roughly €17.61 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €191k. Robert has been a buyer over the last 12 months, purchasing a net total of €357k worth in shares. Upcoming Dividend • Jun 22
Upcoming dividend of CA$0.17 per share at 2.5% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (3.7%). Announcement • Jun 16
Badger Infrastructure Solutions Ltd. Announces Second Quarter 2023 Cash Dividend, Payable on or About July 14, 2023 Badger Infrastructure Solutions Ltd. announced that the Board of Directors of Badger approved a quarterly cash dividend for the second quarter of 2023 of $0.1725 per share, which equates to $0.69 per share on an annualized basis. Payment will be made on or about July 14, 2023, to shareholders of record on June 30, 2023. Buying Opportunity • Jun 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.1%. The fair value is estimated to be €23.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 13% in a year. Earnings is forecast to grow by 74% in the next year. Recent Insider Transactions • May 28
Independent Chair of the Board recently bought €92k worth of stock On the 24th of May, Glen Roane bought around 5k shares on-market at roughly €18.49 per share. This transaction amounted to 3.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €191k. Glen has been a buyer over the last 12 months, purchasing a net total of €567k worth in shares. Recent Insider Transactions • May 10
Independent Chair of the Board recently bought €191k worth of stock On the 8th of May, Glen Roane bought around 10k shares on-market at roughly €19.11 per share. This transaction amounted to 8.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Glen has been a buyer over the last 12 months, purchasing a net total of €475k worth in shares. Reported Earnings • May 06
First quarter 2023 earnings released: EPS: US$0.08 (vs US$0.15 loss in 1Q 2022) First quarter 2023 results: EPS: US$0.08 (up from US$0.15 loss in 1Q 2022). Revenue: US$143.2m (up 26% from 1Q 2022). Net income: US$2.76m (up US$8.03m from 1Q 2022). Profit margin: 1.9% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 2.4% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • May 05
Badger Infrastructure Solutions Ltd. Elects Patricia (Tribby) Warfield as Director Badger Infrastructure Solutions Ltd. elected Patricia (Tribby) Warfield as Director, at its AGM held on May 4, 2023. Recent Insider Transactions • Mar 30
Insider recently bought €165k worth of stock On the 27th of March, Robert Love bought around 8k shares on-market at roughly €20.89 per share. This transaction increased Robert Love's direct individual holding by 4x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.2m more in shares than they have sold in the last 12 months. Reported Earnings • Mar 25
Full year 2022 earnings released: EPS: US$0.53 (vs US$0.26 loss in FY 2021) Full year 2022 results: EPS: US$0.53 (up from US$0.26 loss in FY 2021). Revenue: US$570.8m (up 27% from FY 2021). Net income: US$18.3m (up US$27.2m from FY 2021). Profit margin: 3.2% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Construction industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jan 04
Independent Chair of the Board recently sold €367k worth of stock On the 30th of December, Glen Roane sold around 20k shares on-market at roughly €18.35 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Glen has been a net buyer over the last 12 months, purchasing a net total of €174k worth of shares. Recent Insider Transactions • Dec 23
Independent Chair of the Board recently bought €337k worth of stock On the 21st of December, Glen Roane bought around 20k shares on-market at roughly €16.86 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Glen has been a buyer over the last 12 months, purchasing a net total of €431k worth in shares. Upcoming Dividend • Dec 22
Upcoming dividend of CA$0.17 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 15 January 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (4.1%). Recent Insider Transactions • Dec 16
CEO, President & Director recently bought €96k worth of stock On the 13th of December, Robert Blackadar bought around 5k shares on-market at roughly €19.11 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €213k. Robert has been a buyer over the last 12 months, purchasing a net total of €432k worth in shares. Recent Insider Transactions • Nov 26
Independent Chair of the Board recently bought €213k worth of stock On the 24th of November, Glen Roane bought around 10k shares on-market at roughly €21.26 per share. This transaction amounted to 9.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Glen has been a buyer over the last 12 months, purchasing a net total of €196k worth in shares. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director G. Graham was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 07
Third quarter 2022 earnings released: EPS: US$0.42 (vs US$0.28 in 3Q 2021) Third quarter 2022 results: EPS: US$0.42 (up from US$0.28 in 3Q 2021). Revenue: US$163.5m (up 20% from 3Q 2021). Net income: US$14.5m (up 48% from 3Q 2021). Profit margin: 8.9% (up from 7.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Construction industry in Europe. Board Change • Nov 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director G. Graham was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.17 per share Eligible shareholders must have bought the stock before 28 September 2022. Payment date: 15 October 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.2%). Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: US$0.14 (vs US$0.064 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.14 (up from US$0.064 loss in 2Q 2021). Revenue: US$144.2m (up 31% from 2Q 2021). Net income: US$4.81m (up US$7.05m from 2Q 2021). Profit margin: 3.3% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 16%, compared to a 5.4% growth forecast for the industry in Germany. Announcement • Aug 12
Badger Infrastructure Solutions Ltd. Approves Quarterly Cash Dividend, Payable on or About October 15, 2022 Badger Infrastructure Solutions Ltd. announced that the Board has approved the quarterly cash dividend of $0.165 per share for the third quarter of fiscal 2022, with payments to be made on or about October 15, 2022 to shareholders of record at the close of business of September 30, 2022. Recent Insider Transactions • Jun 24
Senior VP of Operations & COO recently bought €108k worth of stock On the 22nd of June, Robert Blackadar bought around 5k shares on-market at roughly €20.00 per share. In the last 3 months, there was an even bigger purchase from another insider worth €196k. Robert has been a buyer over the last 12 months, purchasing a net total of €389k worth in shares. Announcement • May 19
Badger Infrastructure Solutions Ltd. Announces Board Changes Badger Infrastructure Solutions Ltd. announced the appointment of Stephanie Cuskley to Badger's Board of Directors following the retirement of Grant Billing. From 2015 to 2021, Ms. Cuskley served as the Chief Executive Officer of the Leona M. and Harry B. Helmsley Charitable Trust, a foundation which supports a wide range of organizations with a major focus on health and medical research. From 2019 to 2021, Ms. Cuskley also served as the Chair of the Board of Directors of Aegion Corporation, a publicly-traded pipeline and infrastructure services company, and as a director of Aegion Corporation since 2005. From 2009 to 2015, Ms. Cuskley served as Chief Executive Officer of NPower, a charitable organization that launches underserved individuals into meaningful and sustainable technology careers. She was a Managing Director at JP Morgan Chase in New York, NY from 1995 to 2005 and provided investment banking services to mid-market industrial companies. Ms. Cuskley, who resides in New Jersey, holds a Master of Business Administration (Finance) from Cornell University and a Bachelor of Arts (Economics & Commerce) from the University of Toronto. Ms. Cuskley will be a member of the Board's Audit Committee and the Board's Nominating & Governance Committee. Reported Earnings • May 14
First quarter 2022 earnings released: US$0.15 loss per share (vs US$0.34 loss in 1Q 2021) First quarter 2022 results: US$0.15 loss per share (up from US$0.34 loss in 1Q 2021). Revenue: US$114.1m (up 32% from 1Q 2021). Net loss: US$5.27m (loss narrowed 56% from 1Q 2021). Over the next year, revenue is forecast to grow 8.8%, compared to a 6.9% growth forecast for the industry in Germany. Announcement • May 13
Badger Infrastructure Solutions Ltd. Announces Quarterly Cash Dividend, Payable on or About July 15, 2022 The Board of Badger Infrastructure Solutions Ltd. has approved the quarterly cash dividend of $0.165 per share for the second fiscal quarter of 2022, with payment to be made on or about July 15, 2022 to all shareholders of record at the close of business on June 30, 2022. Announcement • Apr 20
Badger Infrastructure Solutions Ltd. to Report Q1, 2022 Results on May 12, 2022 Badger Infrastructure Solutions Ltd. announced that they will report Q1, 2022 results After-Market on May 12, 2022 Recent Insider Transactions • Mar 24
Insider recently bought €52k worth of stock On the 22nd of March, Tracey Wallace bought around 3k shares on-market at roughly €20.05 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.9m more in shares than they have sold in the last 12 months. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: CA$0.33 loss per share (down from CA$0.71 profit in FY 2020). Revenue: CA$568.8m (up 1.8% from FY 2020). Net loss: CA$11.2m (down 146% from profit in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 15%, compared to a 5.4% growth forecast for the industry in Germany. Announcement • Feb 16
Badger Infrastructure Solutions Ltd. to Report Q4, 2021 Results on Mar 17, 2022 Badger Infrastructure Solutions Ltd. announced that they will report Q4, 2021 results After-Market on Mar 17, 2022 Recent Insider Transactions • Jan 02
Independent Chair of the Board recently sold €111k worth of stock On the 30th of December, Glen Roane sold around 5k shares on-market at roughly €22.14 per share. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Glen has been a buyer over the last 12 months, purchasing a net total of €1.3m worth of shares. Upcoming Dividend • Dec 23
Upcoming dividend of CA$0.052 per share Eligible shareholders must have bought the stock before 30 December 2021. Payment date: 17 January 2022. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.0%). Recent Insider Transactions • Dec 17
Independent Chair of the Board recently bought €204k worth of stock On the 15th of December, Glen Roane bought around 10k shares on-market at roughly €20.39 per share. In the last 3 months, they made an even bigger purchase worth €231k. Glen has been a buyer over the last 12 months, purchasing a net total of €1.4m worth in shares. Upcoming Dividend • Nov 22
Upcoming dividend of CA$0.052 per share Eligible shareholders must have bought the stock before 29 November 2021. Payment date: 15 December 2021. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.0%). Recent Insider Transactions • Nov 21
Independent Chair of the Board recently bought €231k worth of stock On the 18th of November, Glen Roane bought around 10k shares on-market at roughly €23.08 per share. This was the largest purchase by an insider in the last 3 months. Glen has been a buyer over the last 12 months, purchasing a net total of €1.0m worth in shares. Upcoming Dividend • Oct 21
Upcoming dividend of CA$0.052 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 15 November 2021. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.9%). Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.052 per share Eligible shareholders must have bought the stock before 28 September 2021. Payment date: 15 October 2021. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.2%). Recent Insider Transactions • Sep 11
Independent Chair of the Board recently bought €225k worth of stock On the 9th of September, Glen Roane bought around 10k shares on-market at roughly €22.52 per share. In the last 3 months, they made an even bigger purchase worth €495k. Glen has been a buyer over the last 12 months, purchasing a net total of €1.0m worth in shares. Upcoming Dividend • Aug 23
Upcoming dividend of CA$0.052 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 15 September 2021. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (3.2%). Recent Insider Transactions • Aug 12
Independent Chair of the Board recently bought €226k worth of stock On the 10th of August, Glen Roane bought around 10k shares on-market at roughly €22.56 per share. In the last 3 months, they made an even bigger purchase worth €495k. Glen has been a buyer over the last 12 months, purchasing a net total of €307k worth in shares. Reported Earnings • Aug 09
Second quarter 2021 earnings released: CA$0.081 loss per share (vs CA$0.049 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings and control over costs, although revenues were flat. Second quarter 2021 results: Revenue: CA$135.6m (flat on 2Q 2020). Net loss: CA$2.82m (down 266% from profit in 2Q 2020). Upcoming Dividend • Jul 22
Upcoming dividend of CA$0.052 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 16 August 2021. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.4%). Upcoming Dividend • Jun 22
Upcoming dividend of CA$0.052 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 15 July 2021. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (3.2%). Upcoming Dividend • May 21
Upcoming dividend of CA$0.052 per share Eligible shareholders must have bought the stock before 28 May 2021. Payment date: 15 June 2021. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.7%). Announcement • May 18
Badger Infrastructure Solutions Ltd. Declares Cash Dividend for the Month of May 2021, Payable on or About June 15, 2021 Badger Infrastructure Solutions Ltd. announced its May 2021 cash dividend. Badger announced that the directors of Badger declared a cash dividend for the month of May 2021 of $0.0525 per share, which equates to $0.63 per share on an annualized basis. Payment will be made on or about June 15, 2021, to shareholders of record on May 31, 2021. Executive Departure • May 12
Independent Director has left the company On the 5th of May, Garry Mihaichuk's tenure as Independent Director ended after 12.0 years in the role. As of December 2020, Garry personally held 9.21k shares (€215k worth at the time). Garry is the only executive to leave the company over the last 12 months. Reported Earnings • May 06
First quarter 2021 earnings released: CA$0.43 loss per share (vs CA$0.14 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: CA$108.5m (down 21% from 1Q 2020). Net loss: CA$14.9m (down 395% from profit in 1Q 2020). Upcoming Dividend • Apr 23
Upcoming dividend of CA$0.052 per share Eligible shareholders must have bought the stock before 29 April 2021. Payment date: 17 May 2021. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.9%). Upcoming Dividend • Mar 23
Upcoming Dividend of CA$0.052 Per Share Will be paid on the 15th of April to those who are registered shareholders by the 30th of March. The trailing yield of 1.4% is below the top quartile of German dividend payers (3.3%), and is lower than industry peers (3.2%). 
