Revenue Growth and Record Topline Revenue
Badger Infrastructure Solutions Limited reported a record topline revenue of $745 million for the year, representing a 9% increase over the prior year. U.S. revenue grew by 13%.
Improved Profit Margins
The company achieved a full-year adjusted EBITDA margin of 23.6%, up from 22% in 2023. Fourth quarter gross profit margins increased to 29.5% from 26.2% the previous year.
Strong Balance Sheet and Dividend Increase
Badger maintained a strong balance sheet with a compliance leverage of 1.1 times EBITDA. The Board approved a 4.2% increase to the quarterly cash dividend.
Successful Fleet Management
The fleet grew by 7% in 2024, ending the year with 1,625 hydrovacs. The company plans to manufacture between 180 and 210 hydrovacs in 2025.