Badger Infrastructure Solutions Ltd.

Ladies and gentlemen, thank you for standing by. Welcome to the Badger Infrastructure Solutions first quarter 2026 results call. During the presentation, all participants will be in listen-only mode. For those that have dialed into the audio portion of this call and listening through the webcast, attendees will be in listen-only mode. If you need technical assistance, please submit your request under the Tech tab in the window on the right-hand side of your computer screen. As a reminder, this event is being recorded May 1, 2026, and will be made available on the Investor section of Badger's website. I would now like to turn the call over to Anne Plasterer, Director of Investor Relations.

Good morning, everyone, and welcome to our first quarter 2026 earnings call. Joining me on the call this morning are Badger's President and CEO, Rob Blackadar, and our CFO, Rob Dawson. Badger's 2026 first quarter earnings release, MD&A, and financial statements were released after market closed Thursday and are available on the investor section of Badger's website and on CDR+. We are required to note that some of the statements made today may contain forward-looking information. In fact, all statements made today which are not statements of historical fact are considered to be forward-looking statements. We make these forward-looking statements based on certain assumptions that we consider to be reasonable. However, forward-looking statements are always subject to certain risks and uncertainties and undue reliance should not be placed on them as actual results may differ materially from those expressed or implied. For more information about material assumptions, risks, and uncertainties that may be relevant to such forward-looking statements, please refer to Badger's 2025 MD&A along with the 2025 AAF. I will now turn the call over to Rob Blackadar.

Thank you, Anne. Good morning, everyone, and thank you for joining our 2026 first quarter earnings call. Before we get into the results, I'd like to take a moment to talk about safety, which is how we start all of our meetings here at Badger. With the scale of our fleet and the number of miles our teams travel every day, safe driving remains one of the most important ways we protect our people and the communities in which we work. We reinforce this through our just drive mindset, staying focused behind the wheel by eliminating distractions, adjusting for road conditions, and taking the time to pause when conditions aren't right. These everyday decisions matter. That consistent focus on safe driving is embedded in our safety culture and supports the reliability and professionalisms our customers have come to expect from MagiR. The company utilizes industry-leading telematics and AI technologies built into every one of our trucks to further enhance our commitment to safe driving. Our safety culture and solid safety performance record continues to allow Badger to bid and win projects across all of our in-market industries, supporting our increasingly safety-focused broad customer base. I would like to take this opportunity to thank the entire Badger team for their continued dedication, safety focus, and amazing customer service. The team's execution is the reason for Badger's continued success. Now on to the quarter results. The Badger team delivered another strong quarter of double-digit growth in revenue, adjusted EBITDA, and adjusted net earnings. Our first quarter revenue was a record performance of just over $203 million. This represents 18% of entirely organic growth over the prior year, driven by the team's strong commercial execution, capturing increased customer demand across Badger's core end markets. We met this demand through increased utilization, pricing, and continued expansion in the fleet. Importantly, we continue to see this trend for the remainder of 2026, building positive momentum leading into the upcoming busy construction season. Notably, this growth is across all of our regions and broadly across all of our end markets. I will provide more detail and context on our broad and diverse end markets later in the call. Adjusted EBITDA grew 13% year-over-year to a record $38.1 million. We continue to invest in our team and branch network, positioning Badger to benefit from our competitive advantages in our most important strategic markets. We achieved RPT, or revenue per truck, per month of $39,000 in Q1, up 11%. compared to last year. This improvement reflects the strength in fleet utilization and pricing efforts while steadily adding capacity to the hydrovac fleet. Badger ended the quarter with 1,778 hydrovacs, a 7% increase of the average fleet count for last year. Our Red Deer Manufacturing Plant delivered 78 hydrovacs this quarter versus 50 units in Q1 of last year. And we also retired 23 units in the quarter. We continue to see extraordinary demand and opportunities over the coming years. Accordingly, we have increased the build rate at our Red Deer Plant to capture this demand and expect to grow our fleet at the upper end of the previously disclosed 270 to 310 truck build outlook for the year. Our fleet plan also includes refurbishing between 30 to 50 hydrovacs and retiring between 130 to 150 units. The scale of our existing fleet and our ability to control our own manufacturing plant allows Badger to capture continuous growing demand in 2026 and beyond. I'll now turn the call over to Rob Dawson to discuss the Q1 financial results in more detail. Thanks, Rob.