The earnings call reflects a balanced sentiment, with significant achievements in operational efficiency, debt reduction, and product innovation. However, these positives are offset by declines in revenue and sales pipeline, leading to a decrease in adjusted EBITDA.

Company Guidance

During the third quarter 2024 earnings call for DIRTT Environmental Solutions, several key metrics were highlighted. The company achieved $43.4 million in revenues, reflecting a 12% decrease from the same period in 2023 due to non-repeating large projects. Despite this, gross profit margins improved from 34.4% to 38.8%, with adjusted gross profit margins rising from 36.9% to 40.7%. Net income after tax was $7.1 million, a substantial improvement from a $6.3 million loss in 2023, bolstered by a $7.5 million gain on extinguishment of convertible debt. Adjusted EBITDA was $4.1 million, marking the sixth consecutive quarter of positive adjusted EBITDA. The company ended the quarter with $23.6 million in unrestricted cash, down from $24.7 million at the end of 2023, primarily due to a $16.2 million debt repayment. DIRTT's 12-month forward sales pipeline stood at $255 million, and the company maintained its 2025 revenue guidance at $194 million to $209 million. The call also detailed strategic priorities, including revenue growth, innovation, and talent investment, alongside updates on ongoing litigation and notable project achievements.

Positive Adjusted EBITDA

DIRTT achieved its sixth consecutive quarter of positive adjusted EBITDA, maintaining a strong financial position and operational efficiency.

Improved Gross Profit Margins

Gross profit margin increased from 34.4% to 38.8% year-over-year, and adjusted gross profit margin increased from 36.9% to 40.7%, despite a slight decrease in gross profit value due to lower revenues.

Significant Debt Reduction

DIRTT reduced long-term debt from $56.1 million at the end of 2023 to $23.9 million as of September 30, 2024, recognizing a gain on the extinguishment of debt.

Operational Excellence Recognition

DIRTT was awarded the Industrialized Construction Maturity Assessment (ICMA) Platinum Medallion for outstanding performance in industrialized construction.

Successful Product Launches

The launch of the COVE in the healthcare sector has seen positive demand, with over 15 major health systems interested, and DIRTT received two significant product awards for it.

Expansion in Sales Channels

DIRTT has welcomed four new partners year-to-date and has expanded its direct sales force with new sales representatives and internal sales support.

Strong Performance in Financial Sector

Sales volume with national account clients in the financial services sector increased by 22% in 2024.

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DIRTT Env Solution (TSE:DRT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:DRT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 08, 2018	2018 (Q2)	- / 0.01	-0.035	133.33% (+0.05)	―	―
Oct 30, 2018	2018 (Q3)	- / -0.07	0.056	-217.95% (-0.12)	―	―
Mar 20, 2019	2018 (Q4)	- / 0.04	-0.101	142.86% (+0.14)	―	―
May 08, 2019	2019 (Q1)	- / -0.10	0.045	-316.13% (-0.14)	―	―
Jul 30, 2019	2019 (Q2)	- / 0.03	0.012	187.50% (+0.02)	―	―
Nov 07, 2019	2019 (Q3)	- / 0.10	-0.066	252.17% (+0.17)	―	―
Feb 26, 2020	2019 (Q4)	- / -0.11	0.038	-403.85% (-0.15)	―	―
May 06, 2020	2020 (Q1)	- / -0.07	-0.085	18.64% (+0.02)	―	―
Jul 29, 2020	2020 (Q2)	- / 0.00	0.029	―	―	―
Nov 04, 2020	2020 (Q3)	- / -0.03	0.088	-129.51% (-0.11)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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TSE:DRT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 06, 2024	C$0.91	C$0.87	-4.40%
Aug 07, 2024	C$0.64	C$0.69	+7.81%
May 08, 2024	C$0.80	C$0.76	-5.00%
Feb 21, 2024	C$0.62	C$0.67	+8.06%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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FAQ

When does Dirtt Environmental Solutions Ltd. (TSE:DRT) report earnings?

Dirtt Environmental Solutions Ltd. (TSE:DRT) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.

What is Dirtt Environmental Solutions Ltd. (TSE:DRT) earnings time?

Dirtt Environmental Solutions Ltd. (TSE:DRT) earnings time is at Feb 19, 2025, TBA Not Confirmed.

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

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What is TSE:DRT EPS forecast?

Currently, no data Available

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