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Foraco International Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Q3 2025 revenue was $71 million, down 9% year-over-year, with gross margin at 19.7% and net profit at $5.5 million, reflecting operational progress and disciplined cost management.
EBITDA for Q3 2025 was $14.2 million (20% of revenue), compared to a 21% margin in Q3 2024.
Year-to-date revenue was $195.1 million, down 16% from the prior year, with EBITDA at $35.2 million and net profit at $12.5 million.
Three significant long-term contracts were awarded/renewed in Chile and Canada, valued at $150 million.
Operations in South America and EMEA showed strong growth, while North America declined due to contract completions and deferrals.
Financial highlights
Q3 2025 revenue: $71 million (-9% YoY); mining 86%, water 14%; gross profit: $14 million (19.7% margin); EBITDA: $14.2 million (20% margin); net profit: $5.5 million (8% margin).
YTD Q3 2025 revenue: $195.1 million (-16% YoY); gross profit: $35.9 million (18.4% margin); EBITDA: $35.2 million (18.1% margin); net profit: $12.5 million.
G&A/SG&A expenses decreased 11% to $4.8 million, or 6.8% of revenue; EBIT was $9 million vs. $12 million in Q3 2024.
Free cash flow for YTD Q3 2025 was negative $0.6 million due to working capital and capex for new contracts.
Net debt at 09-30-2025 was $72 million, up from $61 million at 12-31-2024, but down from $78.3 million a year earlier.
Outlook and guidance
Market conditions are strengthening, especially in Latin America, with a rebound in metal prices and exploration financing.
Robust tender pipeline in North and Latin America, especially for gold and copper projects.
Management expects a rebound driven by renewed investment and higher rig utilization, supported by new contract awards and long-term renewals totaling $140 million to $150 million in Canada and Chile.
Strategy focuses on superior margins, strong free cash flow, and disciplined capital allocation.
Focus remains on efficiency, service quality, and positioning for sustained, profitable growth.
North America revenue growth strategy?
How does utilization rate impact EBITDA?
What is the outlook for gold commodity mix?
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Next Foraco International earnings date
Q4 202518 Feb, 2026
Next Foraco International earnings date
Q4 202518 Feb, 2026
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Frequently asked questions
Foraco International SA is a leading global provider of drilling services, specializing in mineral and water drilling. Established in 1961 in France, the company initially focused on manufacturing drilling rigs. Over the decades, Foraco has expanded its services globally, operating in harsh and remote environments such as deserts, rainforests, and Arctic territories. The company offers a variety of drilling services, including those for mineral exploration and development, as well as drilling wells for drinking, irrigation, and industrial water. The company is headquartered in Marseille, France, and its shares are listed on the Toronto Stock Exchange.
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