Black Diamond Group Limited

Ladies and gentlemen, welcome to the Black Diamond Group third quarter 2026 results. All lines have been placed on mute to prevent any background noise. And after the speakers are marked, we will conduct a question and answer session. If you'd like to ask a question at that time, please press star then the number one on your telephone keypad to raise your hand and enter the queue. If you would like to withdraw your question at any time, please press star one again. I will now turn the call over to Emma Covenden. You may begin.

Good morning and welcome to Black Diamond Group's third quarter 2026 results conference call. With me this morning we have Chief Executive Officer Trevor Haynes, Chief Financial Officer Toby Labrie, Chief Operating Officer of Workforce Solutions Mike Ridley, President of Royal Camp Services John Warren, and Chief Financial Officer of LodgeLink Jason Zhang. Please be reminded that our discussions today may include forward-looking statements regarding Black Diamond's future results, and that such statements are subject to a number of risks and uncertainties. Actual financial and operational results may differ materially from these forward-looking expectations. Management may also reference various non-GAAP financial measures in today's call such as adjusted EBITDA, adjusted EPS or net debt. For more information on these terms and others, please review the sections of Black Diamond's third quarter 2026 management discussion and analysis entitled forward-looking statements risks and uncertainties and non-GAAP financial measures. This quarter's MD&A financial statements and press release may be found on the company's website and also on the CDARplus website. Dollar amounts discussed in today's call are expressed in Canadian dollars unless noted otherwise and may be rounded. The format for today will be similar to prior conference calls. Trevor will start with a high-level overview of the company's performance and highlights from the quarter, including commentary on current market conditions. Trevor will then pass the call over to Toby for a more detailed review of our financial performance before we open the line for questions. With that, I'll turn the call over to Trevor.

Thank you, Emma, and good morning, everyone. We appreciate you taking the time to join us today. Yesterday, we reported strong third quarter results, reflecting continued growth across the platform and building momentum as we head into the final quarter of the year and look ahead to 2027. Revenue reached an all-time quarterly record of 159.9 million, an increase of 52% from the comparative quarter, while adjusted EBITDA increased 33% to 42.3 million. Record rental revenue of 48.9 million was up 18% from the comparative quarter, while contracted future rental revenue remained robust at 152.3 million at quarter end down 4% from the comparative quarter. Based on our continued growth, strong free cash flow generation, and confidence in the long-term outlook for the business, we announced a 22% increase in our quarterly dividend to 5.5 cents per share, marking the sixth increase since reinstating the dividend in 2021. This reflects our commitment to rewarding shareholders, even with the increase, The dividend still maintains a relatively low percentage of free cash flow, allowing financial flexibility to reinvest in the business and drive future growth. All three areas of the business, WFS, MSS, and LodgeLink, contributed to our strong Q3 performance, which is the result of our focus on execution against our long-range strategic framework, including the growth initiatives undertaken over the past several years. As we look ahead, we are bullish about the macro backdrop and the opportunity set developing across our operating regions. From our perspective, the combination of project volume and the breadth of activity across end markets is unprecedented. Demand in Canada continues to build across resource development, pipelines, data centres, mining, defence and remote infrastructure, with the opportunity being particularly strong in Western Canada creating opportunities to deploy existing capacity along with incremental CapEx. In the US, activity associated with data centers and the related infrastructure build out across the Gulf Coast and Southeast is expanding. And in Australia, market conditions are also positive with mining, defense and remote infrastructure activity creating tangible opportunities. Our elevated bid pipelines across the company are highly prospective indicative of considerable opportunity ahead. In Canada alone, WFS has more than $2.3 billion of formal bids outstanding, representing well over twice the capacity of our current fleet, with several projects now in advanced stages of contract negotiation. Within WFS, our expanded accommodations platform gives us greater scale and capability to support major projects, backed by a growing network of customer relationships and a strong network of indigenous partnerships. Within MSS, our strategy remains straightforward. We'll continue to invest in the fleet, grow recurring rental revenue, maintain strong utilization and ensure capital is deployed prudently in line with customer demand and where we see attractive returns. Based on the growing customer demand, the cadence of capital investment is increasing and will continue to accelerate in the coming quarters. Taken together, we believe our asset-based businesses are very well positioned to capitalize on the strong macro environment and the existence of opportunities across our markets. Beyond our asset-based businesses, we're also very excited about the momentum at LodgeLink. LodgeLink achieved another record quarter and continues to demonstrate the value and scalability of its sophisticated two-sided marketplace Customer retention remains very high, while customer acquisition continues to accelerate with expansion in the U.S. currently outpacing Canada by nearly double. LodgeLink will continue to be an increasingly important part of Black Diamond's portfolio, providing exposure to workforce mobility across multiple industries and geographies through a capital-light platform business model. We believe the platform will continue to scale for the foreseeable future. Before Toby gets into the details of our operating results, I want to recognize and thank our people across Black Diamond. The results we reported yesterday are the culmination of the hard work and commitment of our teams across our branches, camps, lodges, project sites, and offices. And nothing is more important than doing that work safely. Ensuring our people, our partners, and everyone working alongside us goes home safely at the end of each day remains our most important Thank you for joining us today. With that, I'll turn the call over to Toby.