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Record Quarter: Revenue and EBITDA Soar!
14 Aug
Summary
- Record revenue and adjusted EBITDA achieved in Q2 2026.
- Data center sales are projected to more than double in 2026.
- Company resumes share repurchases following improved financial health.
The company achieved record revenue and adjusted EBITDA in the second quarter of 2026, marking a significant increase from the previous year and quarter. This performance was driven by strong commercial execution and notable gains in operational efficiency across its business segments.
The connection technologies division saw substantial year-over-year growth, particularly in wire and cable, supported by demand from mining, data center, and utility markets. Composite technologies also experienced meaningful uplifts, attributed to record production levels and increased demand for fuel and water products.
Xerxes set new quarterly records for both fuel and water products, contributing to over 15% revenue growth in the first half of 2026. Looking ahead, data center sales are anticipated to more than double in 2026, projecting to constitute approximately 5% of consolidated revenue.
While operating cash flows were slightly negative due to working capital investments, capital spending in Q2 2026 amounted to $6.3 million. The company's net debt to adjusted EBITDA ratio improved, enabling the resumption of share repurchase programs under its NCIB.
