
Badger Infrastructure Solutions Ltd
TSX:BDGI

Income Statement
Earnings Waterfall
Badger Infrastructure Solutions Ltd
Revenue
|
745m
USD
|
Cost of Revenue
|
-526.9m
USD
|
Gross Profit
|
218m
USD
|
Operating Expenses
|
-131.9m
USD
|
Operating Income
|
86.1m
USD
|
Other Expenses
|
-38.2m
USD
|
Net Income
|
47.9m
USD
|
Income Statement
Badger Infrastructure Solutions Ltd
Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
422
N/A
|
424
+0%
|
414
-2%
|
412
0%
|
405
-2%
|
391
-3%
|
393
+0%
|
395
+0%
|
404
+2%
|
416
+3%
|
448
+8%
|
476
+6%
|
497
+4%
|
517
+4%
|
541
+5%
|
569
+5%
|
615
+8%
|
642
+4%
|
655
+2%
|
670
+2%
|
654
-2%
|
644
-2%
|
618
-4%
|
591
-4%
|
559
-5%
|
531
-5%
|
506
-5%
|
486
-4%
|
454
-7%
|
482
+6%
|
516
+7%
|
543
+5%
|
571
+5%
|
600
+5%
|
628
+5%
|
660
+5%
|
684
+4%
|
702
+3%
|
717
+2%
|
731
+2%
|
745
+2%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(291)
|
(288)
|
(282)
|
(282)
|
(283)
|
(277)
|
(276)
|
(278)
|
(284)
|
(296)
|
(318)
|
(338)
|
(350)
|
(364)
|
(378)
|
(393)
|
(424)
|
(439)
|
(448)
|
(461)
|
(453)
|
(456)
|
(433)
|
(410)
|
(400)
|
(379)
|
(381)
|
(379)
|
(359)
|
(380)
|
(399)
|
(419)
|
(432)
|
(449)
|
(462)
|
(476)
|
(493)
|
(504)
|
(514)
|
(523)
|
(527)
|
|
Gross Profit |
132
N/A
|
136
+3%
|
132
-3%
|
130
-2%
|
122
-6%
|
114
-6%
|
117
+3%
|
116
0%
|
120
+3%
|
120
+0%
|
130
+8%
|
138
+7%
|
147
+6%
|
154
+5%
|
163
+6%
|
176
+8%
|
191
+9%
|
203
+6%
|
208
+2%
|
210
+1%
|
201
-4%
|
189
-6%
|
185
-2%
|
181
-2%
|
158
-12%
|
151
-5%
|
126
-17%
|
107
-15%
|
95
-11%
|
103
+8%
|
117
+14%
|
125
+6%
|
139
+12%
|
151
+9%
|
165
+9%
|
183
+11%
|
191
+4%
|
198
+4%
|
203
+2%
|
208
+3%
|
218
+5%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(49)
|
(45)
|
(53)
|
(55)
|
(59)
|
(76)
|
(60)
|
(64)
|
(66)
|
(67)
|
(65)
|
(66)
|
(68)
|
(70)
|
(82)
|
(84)
|
(89)
|
(103)
|
(111)
|
(114)
|
(117)
|
(106)
|
(112)
|
(121)
|
(121)
|
(137)
|
(120)
|
(109)
|
(97)
|
(95)
|
(98)
|
(101)
|
(104)
|
(110)
|
(111)
|
(120)
|
(129)
|
(140)
|
(140)
|
(135)
|
(132)
|
|
Selling, General & Administrative |
(14)
|
(8)
|
(13)
|
(13)
|
(16)
|
(15)
|
(15)
|
(21)
|
(22)
|
(24)
|
(21)
|
(22)
|
(23)
|
(23)
|
(35)
|
(35)
|
(40)
|
(51)
|
(56)
|
(56)
|
(54)
|
(39)
|
(41)
|
(49)
|
(49)
|
(64)
|
(52)
|
(45)
|
(40)
|
(37)
|
(41)
|
(42)
|
(45)
|
(49)
|
(47)
|
(54)
|
(59)
|
(67)
|
(65)
|
(57)
|
(53)
|
|
Depreciation & Amortization |
(35)
|
(38)
|
(40)
|
(42)
|
(44)
|
(44)
|
(44)
|
(44)
|
(43)
|
(43)
|
(44)
|
(44)
|
(46)
|
(46)
|
(47)
|
(49)
|
(49)
|
(52)
|
(55)
|
(58)
|
(64)
|
(67)
|
(70)
|
(73)
|
(73)
|
(73)
|
(68)
|
(64)
|
(57)
|
(57)
|
(58)
|
(58)
|
(60)
|
(61)
|
(64)
|
(66)
|
(70)
|
(73)
|
(75)
|
(77)
|
(79)
|
|
Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
(16)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
83
N/A
|
91
+10%
|
80
-12%
|
75
-6%
|
62
-16%
|
38
-39%
|
57
+51%
|
52
-9%
|
54
+4%
|
53
-3%
|
65
+23%
|
72
+11%
|
78
+8%
|
84
+8%
|
81
-3%
|
92
+13%
|
102
+11%
|
100
-2%
|
97
-4%
|
95
-1%
|
84
-12%
|
83
-1%
|
73
-12%
|
59
-19%
|
37
-37%
|
14
-61%
|
6
-57%
|
(2)
N/A
|
(2)
+21%
|
8
N/A
|
19
+139%
|
24
+25%
|
35
+47%
|
41
+18%
|
54
+32%
|
63
+17%
|
62
-1%
|
58
-6%
|
63
+7%
|
74
+17%
|
86
+17%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(10)
|
(10)
|
(12)
|
(7)
|
(5)
|
(6)
|
(6)
|
(6)
|
(5)
|
(5)
|
(5)
|
(6)
|
(6)
|
(6)
|
(5)
|
(5)
|
(4)
|
(5)
|
(6)
|
(6)
|
(8)
|
(8)
|
(9)
|
(9)
|
(6)
|
(6)
|
(4)
|
(4)
|
(6)
|
(7)
|
(10)
|
(11)
|
(12)
|
(9)
|
(14)
|
(9)
|
(7)
|
(5)
|
(7)
|
(17)
|
(20)
|
|
Non-Reccuring Items |
0
|
0
|
(22)
|
(22)
|
(16)
|
0
|
5
|
5
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
4
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Gain/Loss on Disposition of Assets |
0
|
0
|
0
|
0
|
0
|
(2)
|
(2)
|
(2)
|
(2)
|
(0)
|
0
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
0
|
1
|
(0)
|
(0)
|
(2)
|
(2)
|
(2)
|
(2)
|
(0)
|
(1)
|
(3)
|
(4)
|
(3)
|
(3)
|
0
|
1
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
|
Pre-Tax Income |
74
N/A
|
82
+11%
|
46
-43%
|
46
-1%
|
41
-10%
|
30
-28%
|
55
+83%
|
49
-10%
|
47
-4%
|
48
+1%
|
59
+25%
|
66
+11%
|
72
+8%
|
77
+8%
|
75
-3%
|
85
+14%
|
98
+14%
|
95
-3%
|
91
-5%
|
90
0%
|
76
-16%
|
75
-2%
|
62
-17%
|
49
-21%
|
33
-32%
|
7
-79%
|
2
-73%
|
(7)
N/A
|
(11)
-70%
|
(3)
+77%
|
6
N/A
|
10
+57%
|
23
+137%
|
33
+45%
|
42
+27%
|
56
+33%
|
57
+2%
|
56
-2%
|
57
+3%
|
58
+1%
|
67
+16%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(21)
|
(23)
|
(13)
|
(11)
|
(3)
|
1
|
(7)
|
(7)
|
(18)
|
(19)
|
(22)
|
(24)
|
(23)
|
(24)
|
(26)
|
(27)
|
(30)
|
(29)
|
(24)
|
(23)
|
(17)
|
(16)
|
(13)
|
(10)
|
(8)
|
(2)
|
(1)
|
1
|
3
|
0
|
(1)
|
(0)
|
(5)
|
(7)
|
(10)
|
(15)
|
(15)
|
(15)
|
(16)
|
(16)
|
(20)
|
|
Income from Continuing Operations |
53
|
59
|
34
|
35
|
39
|
31
|
47
|
42
|
29
|
29
|
38
|
42
|
49
|
53
|
49
|
59
|
68
|
66
|
67
|
67
|
60
|
59
|
49
|
39
|
25
|
5
|
1
|
(6)
|
(9)
|
(2)
|
5
|
9
|
18
|
26
|
33
|
41
|
42
|
41
|
42
|
42
|
48
|
|
Net Income (Common) |
53
N/A
|
59
+11%
|
34
-42%
|
35
+3%
|
39
+10%
|
31
-20%
|
47
+54%
|
42
-11%
|
29
-31%
|
29
N/A
|
38
+30%
|
42
+11%
|
66
+57%
|
70
+7%
|
66
-6%
|
76
+14%
|
68
-10%
|
66
-3%
|
67
+2%
|
67
+0%
|
60
-11%
|
59
-2%
|
49
-17%
|
39
-20%
|
25
-37%
|
5
-81%
|
1
-82%
|
(6)
N/A
|
(9)
-59%
|
(2)
+74%
|
5
N/A
|
9
+98%
|
18
+93%
|
26
+44%
|
33
+24%
|
41
+27%
|
42
+1%
|
41
-2%
|
42
+2%
|
42
+0%
|
48
+15%
|
|
EPS (Diluted) |
1.42
N/A
|
1.58
+11%
|
0.92
-42%
|
0.95
+3%
|
1.04
+9%
|
0.83
-20%
|
1.27
+53%
|
1.13
-11%
|
0.78
-31%
|
0.78
N/A
|
1.02
+31%
|
1.14
+12%
|
1.77
+55%
|
1.89
+7%
|
1.78
-6%
|
2.03
+14%
|
1.83
-10%
|
1.79
-2%
|
1.86
+4%
|
1.89
+2%
|
1.67
-12%
|
1.68
+1%
|
1.4
-17%
|
1.13
-19%
|
0.71
-37%
|
0.13
-82%
|
0.02
-85%
|
-0.16
N/A
|
-0.25
-56%
|
-0.07
+72%
|
0.14
N/A
|
0.27
+93%
|
0.53
+96%
|
0.76
+43%
|
0.94
+24%
|
1.2
+28%
|
1.21
+1%
|
1.18
-2%
|
1.21
+3%
|
1.21
N/A
|
1.39
+15%
|