Tag: GlobeNewswire

CALGARY, Alberta, Oct. 29, 2026 (GLOBE NEWSWIRE) — Black Diamond Group Limited (“Black Diamond”, the “Company” or “we”), (TSX:BDI), a leading provider of space rental and workforce accommodation solutions, today announced its operating and financial results for the three months ended September 30, 2026 (the “Quarter”) compared with the three months ended September 30, 2025 (the “Comparative Quarter”). All financial figures are expressed in Canadian dollars.

Third Quarter 2026 at a Glance

	Q3 2026	Change vs. Q3 2025
Total revenue	$159.9	52%
Adjusted EBITDA	$42.3	33%
Consolidated rental revenue	$48.9	18%
Contracted future rental revenue	$152.3	(4)%
Capital expenditures	$26.8	37%
Capital commitments	$49.7	26%

Key Highlights

• Subsequent to Quarter end, the Company announced a 22% increase to its quarterly dividend, marking the sixth increase since its reinstatement in 2021. The fourth quarter dividend of $0.055 is payable on or about January 15, 2027 to shareholders of record on December 31, 2026.
• Workforce Solutions (“WFS”) revenue of $97.9 million for the Quarter increased 127% from the Comparative Quarter, contributing to Adjusted EBITDA¹ of $28.2 million, up 99% from the Comparative Quarter. The increase was driven by Royal Camp Services Ltd. (“Royal Camp”) contribution, which supported growth in lodge services revenue of 389%, rental revenue of 43% and non-rental revenue of 56% as compared to the Comparative Quarter.
• WFS formal bids outstanding in Canada alone continues to compound with over $2.3 billion in formal bids representing more than double the Company’s current fleet capacity and underscores the growing demand environment.
• LodgeLink generated record Total Trade Value¹ of $51.5 million for the Quarter, an increase of 44% from the Comparative Quarter, driving net revenue up 51% to a record $6.5 million from the Comparative Quarter. Record Total Travel Segments sold of 254,944 increased 50% from the Comparative Quarter.
• Modular Space Solutions (“MSS”) rental revenue of $30 million for the Quarter, increased 7% from the Comparative Quarter, contributing to Adjusted EBITDA² of $21.2 million, down 7% from the Comparative Quarter. Utilization remained within the optimal range at 77.1% and average monthly rates increased 3%.
• MSS value-added products and services (“VAPS”) revenue of $3.5 million for the Quarter increased 25% from the Comparative Quarter, driving VAPS as a % of Rental Revenue¹ up 200 basis points from the Comparative Quarter to 12.7%.

¹Adjusted EBITDA, Adjusted EPS, Total Trade Value, Adjusted Profit and Net Debt are non-GAAP financial measures. VAPS as a % of Rental Revenue and Net Debt to TTM Adjusted Leverage EBITDA are non-GAAP ratios. Refer to the “Non-GAAP Financial Measures”, “Financial Review – Capital Plan” and “Modular Space Solutions – Financial Highlights” sections of this MD&A for more information on each non-GAAP financial measure and ratio.

• The Company realized Basic Adjusted Earnings Per Share of $0.19 up by $0.03 from the Comparative Quarter. EPS of $0.16 in the Quarter was down from $0.19 in the Comparative Quarter reflecting lower margins, higher depreciation and financing costs, and increased shares outstanding offset by one-time insurance proceeds in the Comparative Quarter.
• Net Debt² of $355.7 million at the end of the Quarter increased 8% since December 31, 2025. Net Debt to trailing twelve months (“TTM”) Adjusted Leverage EBITDA² of 2.4x is within the target range of 2.0x to 3.0x.

²Adjusted EBITDA, Adjusted EPS, Total Trade Value, Adjusted Profit and Net Debt are non-GAAP financial measures. VAPS as a % of Rental Revenue and Net Debt to TTM Adjusted Leverage EBITDA are non-GAAP ratios. Refer to the “Non-GAAP Financial Measures”, “Financial Review – Capital Plan” and “Modular Space Solutions – Financial Highlights” sections of this MD&A for more information on each non-GAAP financial measure and ratio.

Outlook

Black Diamond enters the final quarter of the year from a position of strength, following the first half that demonstrated stability of Black Diamond’s diversified platform and core rental business. As we exit 2026 and look ahead to 2027, operating momentum continues to strengthen with favourable demand environments across all three operating geographies and key end market verticals. Strong macro tailwinds and proven execution capabilities position the Company exceptionally well to translate these conditions into continued profitable growth.

Within WFS, elevated activity in North America is broadly spanning projects from resource development, pipelines, data centres, mining, military and remote infrastructure. This is increasingly evident in the volume and quality of opportunities in the formal bid stage equating to over $2.3 billion in Canada alone exiting the quarter – with several prospective sizable projects. The combination of Black Diamond and Royal Camp provides meaningful scale and available capacity, an integrated service-offering, and many key Indigenous partnerships to meet our customers needs as projects advance.

The opportunity set is particularly strong in western Canada, where increased resource and infrastructure activity is creating demand across both WFS and MSS and is providing multiple avenues for the Company to deploy existing capacity and invest incremental capital to meet growing demand.

In Australia, market conditions are positive, with similar dynamics to the development cycle in North America. Increasing demand for workforce accommodations for mining, military and remote infrastructure are translating into tangible growth opportunities requiring capital deployment at very attractive rates of return.

LodgeLink’s results demonstrate the scalability of the business reaching new highs across all key metrics in the quarter with no current indications of this growth moderating. Customer acquisition continues to expand meaningfully, while retention also remains strong. Growth in the U.S. market is accelerating and outpaces Canada by nearly double with significant market penetration upside still ahead. The completion of LodgeLink 3.0 will lead to further value-creation in this area of the business and represents an important next stage in its evolution.

MSS continues to generate stable recurring rental revenue and benefit from healthy utilization and disciplined fleet investment in correlation to customer demand with strength in Canada – particularly in the western provinces. In the U.S. activity associated with data centres and the related infrastructure build out, particularly across the Gulf Coast and Southeast, is expanding, though this emerging vertical is offset to a degree by continued softness in education-related sales and a muted pace of rental growth in this sector. Custom sales revenue continues to reflect typical variability, with permitting delays shifting project deployment timing, though this is largely a matter of timing rather than demand.

With a diversified platform, considerable operating leverage, a healthy balance sheet and a strong team focused on disciplined execution, the Company believes it is well positioned to capitalize on the diverse and unprecedented opportunity ahead – ultimately compounding long-term shareholder value.

Third Quarter 2026 Financial Highlights

	Three months ended September 30,			Nine months ended September 30,
($ millions, except as noted)	2026	2025	Change	2026	2025	Change
Financial Highlights	$	$	%	$	$	%
Total revenue	159.9	105.3	52%	419.0	312.9	34%
Gross profit	65.6	50.2	31%	171.8	142.3	21%
Administrative expenses	24.7	20.1	23%	72.3	59.9	21%
Adjusted EBITDA(1)	42.3	31.8	33%	104.7	87.5	20%
Adjusted EBIT(1)	23.6	19.4	22%	50.5	50.7	—%
Funds from Operations(1)	43.6	33.0	32%	103.4	89.4	16%
Per share ($)	0.63	0.51	24%	1.51	1.43	6%
Profit before income taxes	13.8	16.6	(17)%	19.7	36.7	(46)%
Profit	11.0	12.2	(10)%	14.6	27.2	(46)%
Adjusted EPS – Basic ($)(1)	0.19	0.16	19%	0.33	0.43	(23)%
Adjusted EPS – Diluted ($)(1)	0.19	0.16	19%	0.32	0.42	(24)%
Earnings per share – Basic ($)	0.16	0.19	(16)%	0.21	0.44	(51)%
Earnings per share – Diluted ($)	0.16	0.18	(11)%	0.21	0.43	(51)%
Capital expenditures	26.8	19.6	37%	68.6	69.3	(1)%
Property and equipment	790.9	597.4	32%	790.9	597.4	32%
Total assets	1,105.6	784.2	41%	1,105.6	784.2	41%
Long-term debt	379.9	205.8	85%	379.9	205.8	85%
Cash and cash equivalents	24.4	9.8	149%	24.4	9.8	149%
Return on Assets (%)(1)	19.6%	20.4%	(80) bps	12.3%	18.5%	(620) bps
Free Cashflow(1)	33.8	23.0	47%	66.4	59.3	12%
(1) Adjusted EBITDA, Adjusted EBIT, Adjusted EPS, Funds from Operations and Free Cashflow are non-GAAP financial measures. Return on Assets is a non-GAAP ratio. Refer to the “Non-GAAP Financial Measures” section of this news release for more information on each non-GAAP financial measure and ratio.

Additional Information

A copy of the Company’s unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2026 and 2025 and related management’s discussion and analysis have been filed with the Canadian securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca) and www.blackdiamondgroup.com.

About Black Diamond Group

Black Diamond is an industrial services and asset management company with two operating business units – MSS and WFS. We operate in Canada, the United States and Australia.

MSS through its principal brands, BOXX Modular, CLM and Schiavi, owns a large rental fleet of modular buildings of various types and sizes. Its network of local branches rent, sell, service and provide ancillary products and services to a diverse customer base in the construction, industrial, education, financial, and government sectors.

WFS, through its principal brands Black Diamond Lodging and Accommodations, Royal Camp, Summit Camps and Primco Dene Royal Camp Services Limited Partnership, owns a large rental fleet of modular accommodation assets of various types and offers a full range of catering and hospitality services both in concert with and independent of the provision of modular accommodation facilities. WFS rents, sells, services and provides ancillary products and services including turn-key operated camps with premium integrated catering and hospitality services to a wide array of customers in the resource, infrastructure, construction, disaster recovery and education sectors.

In addition, the WFS business unit also includes the Corporation’s wholly owned subsidiary, LodgeLink, which operates through a proprietary software platform, offering sophisticated solutions for workforce travel and logistics across North America, Australia and the Asia-Pacific region, enabling customers to efficiently manage the full travel cycle through a rapidly growing network of hotels, remote lodges and travel partners. LodgeLink solves the unique challenges associated with workforce crew travel and is complemented by Spencer Corporate Travel’s high-touch boutique corporate travel management service.

Learn more at www.blackdiamondgroup.com.

For investor inquiries please contact Emma Covenden at 403-718-5062 or investor@blackdiamondgroup.com.

Conference Call

Black Diamond will hold a conference call and webcast at 9:00 a.m. MT (11:00 a.m. ET) on Friday October 30, 2026. CEO Trevor Haynes and CFO Toby LaBrie will discuss Black Diamond’s financial results for the Quarter and then take questions from investors and analysts.

To access the conference call by telephone dial toll free 1-800-715-9871. International callers should use 1-647-932-3411. Please connect approximately 10 minutes prior to the beginning of the call.

To access the call via webcast, please log into the webcast link 10 minutes before the start time at: www.gowebcasting.com/14987

Following the conference call, a replay will be available on the Investor Centre section of the Company’s website at www.blackdiamondgroup.com, under Presentations & Events.

Reader Advisory
Forward-Looking Statements
Certain information set forth in this news release contains forward-looking statements including, but not limited to, the Company’s outlook for 2026, expectations for and opportunities in different geographic areas, opportunities for organic investment, expectations regarding nation-building projects. reinvesting operating cash flows, capital commitments, targeted completion of LodgeLink’s new 3.0 product, the Company’s ability to fund organic and inorganic growth, management’s goals and business objectives, the sales and opportunity pipeline, timing and payment of the Company’s quarterly dividends, the effect of the Enterprise Resource Planning (“ERP”) system upgrade on the Company’s business, macro-economic uncertainty, utilization levels, contract renewals, management’s assessment of Black Diamond’s future operations and what may have an impact on them, expectations regarding the rental rate environment, opportunities and effect of deploying investment capital, financial performance, business prospects and opportunities, changing operating environment including changing activity levels, effects on demand and performance based on the changing operating environment, expectations for demand and growth in the Company’s operating and customer segments, future deployment of assets, amount of revenue anticipated to be derived from current contracts, anticipated debt levels, liquidity demands and sources, ongoing contractual terms and debt obligations, liquidity, working capital and other requirements, management’s expectations regarding the ability to raise equity, sources and use of funds, economic life of the Company’s assets, expected length of existing contracts, plans for completion of the assessment of the controls, policies and procedures of the acquired companies and future growth and profitability of the Company. With respect to the forward-looking statements in this news release, Black Diamond has made assumptions regarding, among other things: future commodity prices, the future interest rate environment, that Black Diamond will continue to raise sufficient capital to fund its business plans in a manner consistent with past operations, effectiveness of the new ERP system, the effects of tariffs and trade-war related measures, that counterparties to contracts will perform the contracts as written and that there will be no unforeseen material delays in contracted projects. Although Black Diamond believes that the expectations reflected in the forward-looking statements contained in this news release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurances that such expectations or assumptions will prove to be correct. Readers are cautioned that assumptions used in the preparation of such statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of Black Diamond. These risks include, but are not limited to: the volatility of industry conditions, dependence on agreements and contracts, competition, credit risk, information technology systems and cyber security, vulnerability to market changes, operating risks and insurance, weakness in industrial construction and infrastructure developments, weakness in natural resource industries, access to additional financing, dependence on suppliers and manufacturers, reliance on key personnel, workforce availability, market price of Common Shares, safety performance, expansion into new activities, government regulation, failure to realize anticipated benefits of acquisitions and dispositions, inflationary price pressure, environmental liability, environmental regulation of the Company’s customers, environmental disasters, Indigenous relationships, dilution, disease outbreaks, variations in foreign exchange rates and interest rates, foreign operations, dependence on operating permits, maturity of credit facility, management of growth, seasonality in certain customer markets, litigation, potential replacement or reduced use of products and services, income taxes, conflicts of interest, restrictive covenants and leverage, the effects of tariffs and trade-war related measures and forward-looking information may prove inaccurate. The risks outlined above should not be construed as exhaustive. Additional information on these and other factors that could affect Black Diamond’s operations and financial results are included in Black Diamond’s annual information form for the year ended December 31, 2025 and other reports on file with the Canadian securities regulatory authorities which can be accessed on Black Diamond’s profile on SEDAR+. Readers are cautioned not to place undue reliance on these forward-looking statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Black Diamond does not undertake any obligation to update or revise any of the forward-looking statements, except as may be required by applicable securities laws.

Non-GAAP Financial Measures
In this news release, the following specified financial measures and ratios have been disclosed: Adjusted EBITDA, Adjusted EBIT, Adjusted EBITDA as a % of Revenue, Net Debt, Net Debt to TTM Adjusted Leverage EBITDA, Funds from Operations, Free Cashflow, Gross Profit Margin, Return on Assets, VAPS as a % of Rental Revenue, Total Trade Value, Net Revenue Margin, Adjusted Profit and Net Capital Expenditures. These non-GAAP financial measures do not have any standardized meaning prescribed under International Financial Reporting Standards (“IFRS”) and are therefore unlikely to be comparable to similar measures presented by other entities. Readers are cautioned that the non-GAAP financial measures are not alternatives to measures under IFRS and should not, on their own, be construed as an indicator of Black Diamond’s performance or cash flows, a measure of liquidity or as a measure of actual return on the shares of Black Diamond. These non-GAAP financial measures should only be used in conjunction with the consolidated financial statements of Black Diamond.

Adjusted EBITDA is not a measure recognized under IFRS and does not have a standardized meaning prescribed by IFRS. Adjusted EBITDA refers to consolidated earnings before finance costs, tax expense, depreciation and amortization, accretion, foreign exchange, share-based compensation, non-controlling interests, write-down of property and equipment, impairment, gain on disposal of assets and non-recurring costs.

Black Diamond uses Adjusted EBITDA primarily as a measure of operating performance. Management believes that operating performance, as determined by Adjusted EBITDA, is meaningful because it presents the performance of the Company’s operations on a basis which excludes the impact of certain non-cash items as well as how the operations have been financed. In addition, management presents Adjusted EBITDA because it considers it to be an important supplemental measure of the Company’s performance and believes this measure is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in industries with similar capital structures.

Adjusted EBITDA has limitations as an analytical tool, and readers should not consider this item in isolation, or as a substitute for an analysis of the Company’s results as reported under IFRS. Some of the limitations of Adjusted EBITDA are:

• Adjusted EBITDA excludes certain income tax payments and recoveries that may represent a reduction or increase in cash available to the Company;
• Adjusted EBITDA does not reflect the Company’s cash expenditures, or future requirements, for capital expenditures or contractual commitments;
• Adjusted EBITDA does not reflect changes in, or cash requirements for, the Company’s working capital needs;
• Adjusted EBITDA does not reflect the significant interest expense, or the cash requirements necessary to service interest payments on the Company’s debt;
• Depreciation and amortization are non-cash charges, thus the assets being depreciated and amortized will often have to be replaced in the future and Adjusted EBITDA does not reflect any cash requirements for such replacements; and
• Other companies in the industry may calculate Adjusted EBITDA differently than the Company does, limiting its usefulness as a comparative measure.

Because of these limitations, Adjusted EBITDA should not be considered as a measure of discretionary cash available to invest in the growth of the Company’s business. The Company compensates for these limitations by relying primarily on the Company’s IFRS results and using Adjusted EBITDA only on a supplementary basis. A reconciliation to profit, the most comparable GAAP financial measure, is provided below.

Adjusted EBIT is Adjusted EBITDA less depreciation and amortization. Black Diamond uses Adjusted EBIT primarily as a measure of operating performance. Management believes that Adjusted EBIT is a useful measure for investors when analyzing ongoing operating trends. There can be no assurances that additional special items will not occur in future periods, nor that the Company’s definition of Adjusted EBIT is consistent with that of other companies. As such, management believes that it is appropriate to consider both profit determined on a GAAP basis as well as Adjusted EBIT. A reconciliation to profit, the most comparable GAAP financial measure, is provided below.

Adjusted EBITDA as a % of Revenue is calculated by dividing Adjusted EBITDA by total revenue for the period. Black Diamond uses Adjusted EBITDA as a % of Revenue primarily as a measure of operating performance. Management believes this ratio is an important supplemental measure of the Company’s performance and believes this measure is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in industries with similar capital structures.

Return on Assets is calculated as annualized Adjusted EBITDA divided by average net book value of property and equipment and intangible assets. Annualized Adjusted EBITDA is calculated by multiplying Adjusted EBITDA for the Quarter and Comparative Quarter by an annualized multiplier. Management believes that Return on Assets is a useful financial measure for investors in evaluating operating performance for the periods presented. When read in conjunction with the Company’s profit and property and equipment, two GAAP financial measures, this non-GAAP ratio provides investors with a useful tool to evaluate Black Diamond’s ongoing operations and management of assets from period-to-period.

Reconciliation of Consolidated Profit to Adjusted EBITDA, Adjusted EBIT, Adjusted EBITDA as a % of Revenue and Return on Assets:

	Three months ended September 30,			Nine months ended September 30,
($ millions, except as noted)	2026	2025	Change %	2026	2025	Change %
Profit(1)	11.0	12.2	(10)%	14.6	27.2	(46)%
Add:
Depreciation and amortization(1)	18.7	12.4	51%	54.2	36.8	47%
Finance costs(1)	5.1	3.2	59%	15.2	10.6	43%
Share-based compensation(1)	2.6	2.3	13%	6.9	5.4	28%
Non-controlling interests(1)	1.2	0.2	500%	3.3	0.9	267%
Current income taxes(1)	3.8	0.4	850%	4.9	1.3	277%
Deferred income taxes(1)	(1.4)	3.9	(136)%	(0.4)	7.4	(105)%
Non-recurring costs
ERP implementation and related costs(2)	1.3	1.7	(24)%	5.2	5.1	2%
Acquisition costs(1)	—	1.5	(100)%	0.3	1.6	(81)%
Gain on disposal of assets(1)	—	(6.0)	100%	(3.1)	(8.8)	65%
Provision for sales tax assessments(1)	—	—	—%	3.6	—	100%
Adjusted EBITDA	42.3	31.8	33%	104.7	87.5	20%
Less:
Depreciation and amortization(1)	18.7	12.4	51%	54.2	36.8	47%
Adjusted EBIT	23.6	19.4	22%	50.5	50.7	—%
Total revenue(1)	159.9	105.3	52%	419.0	312.9	34%
Adjusted EBITDA as a % of Revenue	26.5%	30.2%	(370) bps	25.0%	28.0%	(300) bps
Annualized multiplier	4	4		1.3	1.3
Annualized adjusted EBITDA	169.2	127.2	33%	136.1	113.8	20%
Average net book value of property and equipment	861.9	623.2	38%	851.2	615.5	38%
Return on Assets	19.6%	20.4%	(80) bps	12.3%	18.5%	(620) bps
(1) Sourced from the Company’s unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2026 and 2025.
(2) This relates to the costs incurred for the implementation of a new ERP system and are included in administrative expenses; the first phase of the implementation went live on May 1, 2024 and the second phase of the implementation went live on June 1, 2026.

Reconciliation of Consolidated Profit to Adjusted Profit, and Adjusted Earnings Per Share (EPS):

Adjusted Profit represents profit from continuing operations excluding the amortization of intangibles acquired through acquisitions, acquisition costs, ERP implementation and related costs, and adjustments for other specific items that are significant but are not reflective of Black Diamonds underlying operations, all on an after-tax basis. Specific items are subjective, although Black Diamond uses judgment when identifying items to be excluded in calculating adjusted measures. Adjusted profit is a measure of overall profitability and the most comparable IFRS measure for adjusted profit is Profit. Management presents Adjusted Profit because it considers it to be a reflection of ongoing operations.

Adjusted Earnings Per Share (EPS) is a non-GAAP ratio calculated by dividing adjusted profit (defined above) by the basic and diluted weighted average number of shares outstanding. Management presents Adjusted EPS because it considers it to be a reflection of ongoing operations.

	Three months ended September 30,			Nine months ended September 30,
($ millions, except as noted)	2026	2025	Change	2026	2025	Change
Profit(1)	11.0	12.2	(10)%	14.6	27.2	(46)%
Add back net of tax:
Amortization of intangibles related to acquisitions(2)	1.2	0.4	200%	3.7	1.0	270%
ERP implementation, acquisition, and related costs(3)	0.9	2.4	(63)%	4.0	5.1	(22)%
Provision for sales tax assessments(4)	—	—	—%	2.6	—	100%
Gains related to insurance proceeds received(5)	—	(4.5)	100%	(2.3)	(6.6)	65%
Adjusted Profit	13.1	10.5	25%	22.6	26.7	(15)%
Weighted average common shares outstanding – basic	69.0	65.2	6%	68.6	62.6	10%
Weighted average common shares outstanding – diluted	70.9	66.7	6%	70.4	63.5	11%
Adjusted EPS
Basic ($)	0.19	0.16	19%	0.33	0.43	(23)%
Diluted ($)	0.19	0.16	19%	0.32	0.42	(24)%
(1) Sourced from the Company’s unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2026 and 2025.
(2) The add back of intangible amortization relates only to the amortization from intangible assets acquired through acquisitions and excludes the amortization of internally generated intangibles. For the three and nine months ended September 30, 2026, this amount is net of tax of $0.4 and $1.4 (2025 – $0.1 and $0.3)
(3) The add back of costs incurred for the ERP implementation, as well as certain administrative and marketing costs and depreciation primarily related to acquisition expenses associated with our acquisitions and restructuring costs. For the three and nine months ended September 30, 2026, this amount is net of tax of $0.4 and $1.5 (2025 – $0.8 and $1.6)
(4) For the three and nine months ended September 30, 2026, the Provision for sales tax assessments amount is net of tax of $nil and $1.0 (2025 – $nil and $nil)
(5) For the three and nine months ended September 30, 2026, the Gains related to insurance proceeds received is net of tax of $nil and $0.8 (2025 – $1.5 and $2.1)

Reconciliation of Consolidated Profit to Adjusted EBITDA, Adjusted Leveraged EBITDA, Net Debt and Net Debt to TTM Adjusted Leverage EBITDA:

Net Debt to TTM Adjusted Leverage EBITDA is a non-GAAP ratio which is calculated as Net Debt divided by TTM Adjusted Leverage EBITDA. Net Debt, a non-GAAP financial measure, is calculated as long-term debt minus cash and cash equivalents. A reconciliation to long-term debt, the most comparable GAAP financial measure, is provided below.

Adjusted Leverage EBITDA, a non-GAAP financial measure, is calculated as Adjusted EBITDA plus pre-acquisition Adjusted EBITDA estimates that reflect Adjusted EBITDA generated by acquired businesses prior to the acquisition date, as though the acquisition had occurred at the beginning of the relevant TTM period. Adjusted Leverage EBITDA is used by management to assess the Company’s leverage position and its ability to service debt. The measure is also used in calculating the Net Debt to TTM Adjusted Leverage EBITDA Ratio, which management monitors against its internal target range. Management believes this adjustment provides investors with additional context regarding the contribution of recently acquired operations to the Company’s leverage metrics and assists users in evaluating leverage on a basis that is more consistent with the Company’s current operating performance. A reconciliation to profit, the most comparable GAAP financial measure, is provided below.

Net Debt and Net Debt to TTM Adjusted Leverage EBITDA removes cash and cash equivalents from the Company’s debt balance. Black Diamond uses this ratio primarily as a measure of operating performance. Management believes this ratio is an important supplemental measure of the Company’s performance and believes this measure is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in industries with similar capital structures.

($ millions, except as noted)	2026	2026	2026	2025	2025	2025	2025	2024	Change
	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4
Profit(1)	11.0	0.9	2.7	7.6	12.2	9.2	5.8	9.3
Add:
Depreciation and amortization(1)	18.7	17.8	17.6	15.8	12.4	12.0	12.4	14.6
Finance costs(1)	5.1	5.2	4.9	4.0	3.2	3.6	3.8	3.8
Share-based compensation(1)	2.6	2.4	1.9	2.1	2.3	1.9	1.2	1.3
Non-controlling interests(1)	1.2	0.7	1.3	1.6	0.2	0.3	0.4	0.5
Current income taxes(1)	3.8	(0.1)	1.3	1.4	0.4	0.5	0.4	0.9
Deferred income taxes(1)	(1.4)	0.6	0.4	4.2	3.9	2.6	0.9	5.4
Non-recurring costs
ERP implementation and related costs(2)	1.3	2.3	1.6	1.4	1.7	1.8	1.6	1.4
Acquisition costs(1)	—	0.1	0.3	1.2	1.5	0.1	—	—
Gain on disposal of assets(1)	—	(3.1)	—	(0.4)	(6.0)	(2.8)	—	—
Provision for sales tax assessments	—	3.6	—	—	—	—	—	—
Adjusted EBITDA	42.3	30.4	32.0	38.9	31.8	29.2	26.5	37.2
Acquisition pro-forma adjustments(3)	—	—	—	6.4	—	—	—	—
Adjusted Leverage EBITDA	42.3	30.4	32.0	45.3	31.8	29.2	26.5	37.2
TTM Adjusted Leverage EBITDA	150.0				124.7				20%
Long-term debt(1)	379.9				205.8				85%
Cash and cash equivalents(1)	24.4				9.8				149%
Current portion of long-term debt(4)	0.2				1.1				(82)%
Net Debt	355.7				197.1				80%
Net Debt to TTM Adjusted Leverage EBITDA	2.4				1.6				50%
(1) Sourced from the Company’s unaudited interim condensed consolidated financial statements for thethree and nine months endedSeptember 30, 2026 and 2025.
(2) This relates to the costs incurred for the implementation of a new ERP system and are included in administrative expenses; the first phase of the implementation went live on May 1, 2024 and the second phase of the implementation went live on June 1, 2026.
(3) Includes pre-acquisition Adjusted EBITDA attributable to Royal Camp estimates as if the acquisition occurred on September 30, 2025. Pre-acquisition Adjusted EBITDA from Royal Camp is not a recognized measure under IFRS. The Company’s method of calculating may differ from other entities and accordingly, may not be comparable to measures used by other entities.
(4) Current portion of long-term debt relating to the payments due within one year on the bank term loans assumed as part of the acquisition in the fourth quarter of 2022.

Funds from Operations is calculated as the cash flow from operating activities, the most comparable GAAP financial measure, excluding the changes in non-cash working capital. Management believes that Funds from Operations is a useful measure as it provides an indication of the funds generated by the operations before working capital adjustments. Changes in long-term accounts receivable and non-cash working capital items have been excluded as such changes are financed using the operating line of Black Diamond’s credit facilities. A reconciliation to cash flow from operating activities, the most comparable GAAP financial measure, is provided below.

Free Cashflow is calculated as Funds from Operations minus maintenance capital, net interest paid (including lease interest), payment of lease liabilities, net current income tax expense (recovery), distributions declared to non-controlling interests and dividends paid on Common Shares plus net current income taxes received (paid). Management believes that Free Cashflow is a useful measure as it provides an indication of the funds generated by the operations before working capital adjustments and other items noted above. Management believes this metric is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in industries with similar capital structures. A reconciliation to cash flow from operating activities, the most comparable GAAP financial measure, is provided below.

Reconciliation of Cash Flow from Operating Activities to Funds from Operations and Free Cashflow:

	Three months ended September 30,			Nine months ended September 30,
($ millions, except as noted)	2026	2025	Change	2026	2025	Change
Cash Flow from Operating Activities(1)	23.3	20.4	14%	66.2	84.8	(22)%
Add (deduct):
Change in other long-term assets(1)	6.6	0.3	2,100%	5.1	2.3	122%
Changes in non-cash operating working capital(1)	13.7	12.3	11%	32.1	2.3	1,296%
Funds from Operations	43.6	33.0	32%	103.4	89.4	16%
Add (deduct):
Maintenance capital	(2.2)	(2.9)	24%	(7.9)	(6.8)	(16)%
Payment for lease liabilities(1)	(2.3)	(2.0)	(15)%	(6.9)	(6.7)	(3)%
Interest paid (including lease interest)(1)	(5.0)	(3.0)	(67)%	(14.7)	(10.1)	(46)%
Net current income tax expense(1)	3.8	0.4	850%	4.9	1.3	277%
Dividends paid on Common Shares(1)	(3.1)	(2.1)	(48)%	(9.2)	(6.4)	(44)%
Distributions paid to non-controlling interests(1)	(1.0)	(0.4)	(150)%	(3.2)	(1.4)	(129)%
Free Cashflow	33.8	23.0	47%	66.4	59.3	12%
(1) Sourced from the Company’s unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2026 and 2025.

Gross Profit Margin is a non-GAAP financial ratio which is calculated by dividing gross profit, a GAAP financial measure calculated as total revenue less direct costs, by total revenue for the period. Management believes this ratio is an important supplemental measure of the Company’s performance and believes this ratio is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in industries with similar capital structures.

Reconciliation of Gross Profit to Gross Profit Margin:

	Three months ended September 30,			Nine months ended September 30,
($ millions, except as noted)	2026	2025	Change	2026	2025	Change
Total revenue(1)	159.9	105.3	52%	419.0	312.9	34%
Direct costs(1)	94.3	55.1	71%	247.3	170.6	45%
Gross profit(1)	65.6	50.2	31%	171.8	142.3	21%
Gross Profit Margin	41.0%	47.7%	(670) bps	41.0%	45.5%	(450) bps
(1) Sourced from the Company’s unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2026 and 2025.

Total Trade Value, previously referred to as Gross Bookings, has been renamed to ensure alignment with terminology commonly used across the industry. Total Trade Value is a non-GAAP financial measure and is calculated as the total revenue billed to the customer which includes all fees and charges. Net revenue, a GAAP financial measure, is Total Trade Value less costs paid to suppliers. Revenue from bookings at third-party lodges and hotels through LodgeLink is recognized on a net revenue basis. LodgeLink is an agent in the transaction as it is not responsible for providing the service to the customer and does not control the service provided by a supplier. Management believes this non-GAAP financial measure is an important supplemental measure of LodgeLink’s performance and cash generation and believes this non-GAAP financial measure is frequently used by interested parties in the evaluation of companies in industries with similar forms of revenue generation.

Net Revenue Margin is calculated by dividing net revenue by Total Trade Value for the period. Management believes this ratio is an important supplemental measure of LodgeLink’s performance and profitability and believes this ratio is frequently used by interested parties in the evaluation of companies in industries with similar forms of revenue generation where companies act as agents in transactions.

Reconciliation of Net Revenue to Total Trade Value and Net Revenue Margin:

	Three months ended September 30,			Nine months ended September 30,
($ millions, except as noted)	2026	2025	Change	2026	2025	Change
Net revenue(1)	6.5	4.3	51%	15.6	10.3	51%
Costs paid to suppliers(1)	45.0	31.4	43%	112.0	72.6	54%
Total Trade Value(1)	51.5	35.7	44%	127.6	82.9	54%
Net Revenue Margin	12.6%	12.0%	60 bps	12.2%	12.4%	(20) bps
(1) Includes intercompany transactions.

VAPS as a % of Rental Revenue is a non-GAAP ratio which is calculated as VAPS revenue divided by rental revenue excluding VAPS revenue. A reconciliation to rental revenue, the most comparable GAAP financial measure, is provided below. Black Diamond uses this ratio as a measure of operating performance. Management believes this ratio is an important supplemental measure to appraise the growth of ancillary products and services in proportion to the growth of rental revenue.

Reconciliation of Rental Revenue to VAPS as a % of Rental Revenue:

	Three months ended September 30,			Nine months ended September 30,
Value Added Products & Services ($ millions, except as noted)	2026	2025	Change	2026	2025	Change
Rental revenue(1)	30.0	28.1	7%	85.0	80.0	6%
Less:
VAPS revenue within rental revenue	2.4	1.9	26%	6.4	4.9	31%
Rental revenue excluding VAPS revenue	27.6	26.2	5%	78.6	75.1	5%
VAPS revenue	3.5	2.8	25%	9.4	7.1	32%
VAPS as a % of Rental Revenue	12.7%	10.7%	200 bps	12.0%	9.5%	250 bps
(1) Sourced from the Company’s unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2026 and 2025.

VANCOUVER, British Columbia, Oct. 29, 2026 (GLOBE NEWSWIRE) — Aetherion Technologies Inc. (“Aetherion”) (TSX: AETR / Nasdaq: AETR), announces that the Company will release Q3 2026 financial results on Thursday, November 12, 2026, after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Friday, November 13, 2026.

Time: 9:00 a.m. ET (7:00 a.m. PT)
Call Link: https://register-conf.media-server.com/register/BI35b93703f9b94c79af5e7d30753ef513
Webcast: https://investors.aetheriontech.com

Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

The webcast will be archived on Aetherion’s website, and a replay will be available at https://investors.aetheriontech.com.

About Aetherion Technologies
Aetherion Technologies Inc. is a global clean transportation technology company delivering proven, commercially ready solutions that help fleets and original equipment manufacturers (OEMs) improve performance, efficiency and energy flexibility. Built on decades of engineering expertise, Aetherion develops advanced fuel delivery, storage and control technologies for heavy-duty mobility applications. Its proven technologies support a wide range of alternative fuels—including natural gas, renewable natural gas and hydrogen—empowering OEMs and commercial transportation fleets to meet demanding performance standards, evolving regulatory requirements and climate objectives in a cost-effective way. Through its portfolio of differentiated technologies and strategic partnerships, Aetherion is accelerating practical, scalable pathways to affordable, lower-emission transportation worldwide. Aetherion is headquartered in Vancouver, Canada. For more information, visit www.aetheriontech.com.

Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding the expected timing of Aetherion’s release of its third quarter 2026 financial results and the planned conference call and webcast to discuss those results and other corporate developments. These statements are based on Aetherion’s current expectations and are subject to risks and uncertainties that could cause actual events or results to differ materially. Aetherion undertakes no obligation to update or revise any forward-looking statements, except as required by applicable law.

Contact Information
Aetherion Technologies Investor Relations
T: +1 604-718-2046

BEDFORD, Texas, Oct. 29, 2026 (GLOBE NEWSWIRE) — Legacy Housing Corporation (“Legacy” or the “Company”, NASDAQ: LEGH) will release its financial results for the third quarter ended September 30, 2026, after markets close on Wednesday, November 4, 2026. The Company will then host a conference call at 11:00 a.m. Central Time on Thursday, November 5, 2026.

To access the conference call, please pre-register using the link. Registrants will receive confirmation with dial-in details.

A replay of the webcast will be available on https://investors.legacyhousingcorp.com/ starting approximately two hours after the call and will be archived on the site for one year.

About Legacy Housing Corporation

Legacy builds, sells, and finances manufactured homes and “Tiny Houses” that are distributed through a network of independent retailers and company-owned stores. The Company also sells directly to manufactured housing communities. Legacy is one of the largest producers of manufactured homes in the United States. With current operations focused primarily in the southern United States, we offer our customers an array of quality homes ranging in size from approximately 395 to 2,667 square feet consisting of 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms. Our homes range in price, at retail, from approximately $47,000 to $200,000.

Media Inquiries:

Kira Hovancik, (817) 799-4905

pr@legacyhousingcorp.com

BATON ROUGE, La., Oct. 29, 2026 (GLOBE NEWSWIRE) — Business First Bancshares, Inc. (Nasdaq: BFST) (“Business First”), the holding company for b1BANK, announced today that its Board of Directors has approved a stock repurchase program authorizing the company to repurchase shares of its common stock with an aggregate purchase price of up to $30 million during the 24-month period beginning Oct. 29, 2026, and ending Oct. 28, 2028.

Repurchases may be made from time to time in the open market in accordance with Rule 10b-18 of the Securities and Exchange Commission or through privately negotiated transactions at prices management considers to be attractive and in the best interests of Business First and its shareholders.

Any repurchases will be conducted in compliance with applicable laws and regulations and will depend on general market and economic conditions, the financial and regulatory condition of Business First and b1BANK, liquidity requirements and other factors management considers relevant. The program does not obligate Business First to repurchase shares of its common stock, and there is no assurance that it will do so. The program may be modified, suspended or terminated at any time at the discretion of the Board.

About Business First Bancshares, Inc.

Business First Bancshares, Inc. (Nasdaq: BFST), through its banking subsidiary b1BANK, has $8.9 billion in assets, $5.5 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (not including $1.0 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and Texas, providing commercial and personal banking products and services. b1BANK is a 2024 Mastercard “Innovation Award” winner and multiyear winner of American Banker Magazine’s “Best Banks to Work For.” Visit b1BANK.com for more information.

Misty Albrecht
b1BANK
225.286.7879
Misty.Albrecht@b1BANK.com

(Dollar amounts are in thousands, in Canadian currency unless otherwise specified)

GUELPH, Ontario, Oct. 29, 2026 (GLOBE NEWSWIRE) — Hammond Power Solutions Inc. (“HPS” or the “Company”) (TSX: HPS.A) a leading provider of magnetic and power electronic solutions, today announced its financial results for the third quarter 2026.

QUARTERLY HIGHLIGHTS:

• Record quarterly sales of $446 million, a 104.4% increase versus Q3 2025. Gross margin improvement to 34.4%;
• Quarterly adjusted EBITDA of $84 million, or 18.8% of sales, an increase of 177.5% from Q3 2025. Year-to-date adjusted EBITDA of $178.3 million or 17.2% of sales, an increase of 88.5% from 2025;
• Quarterly adjusted earnings per share of $3.13. Earnings per share of $2.33. Year-to-date adjusted earnings per share of $7.68 and earnings per share of $4.76;
• Power Magnetics Backlog is 61.1% higher than Q3 2025;
• Cash generated from operations at $76 million in the quarter;
• Third quarter 2026 represents the first full quarter in which AEG’s results are included in HPS’s consolidated results.

“We delivered an outstanding quarter across every key financial measure, with record revenue, strong margin expansion and exceptional cash generation. These results reflect robust customer demand and disciplined execution by our teams across the business,” said Adrian Thomas, CEO. “While the integration of AEG is still in its early stages, we are increasingly excited by the opportunities ahead. We remain focused on realizing its full potential while continuing to drive disciplined, profitable growth.”

Overall Corporate Performance

Sales for the third quarter were $446,263, compared to $218,341 in the third quarter of 2025, an increase of $227,922 or 104.4%. Year-to-date sales were $1,035,905, compared to $644,163 in 2025, an increase of $391,742 or 60.8%. 

Gross margin increased to $153,361, or 34.4% of sales, compared to $65,686, or approximately 30.1% of sales, in the third quarter of 2025, an improvement of approximately 430 basis points. Year-to-date gross margin increased to $335,414 or 32.4% in 2026 compared to $198,010 or 30.7% in the prior-year period, an increase of 170 basis points.

Earnings from operations increased to $71,638, compared to $24,928 in the prior-year quarter. Year-to-date earnings from operations were $123,873 in 2026, an increase of $41,816 or 51.0% from the 2025 value of $82,057.

Net earnings for the quarter were $27,696, or $2.33 earnings per share, compared to $17,440, or $1.46 earnings per share in the third quarter of 2025. Year-to-date net earnings were $56,655 or $4.76 earnings per share in 2026 compared to $57,038 or $4.79 per share in 2025.

Beginning in the third quarter of 2026, following the acquisition of AEG Power Solutions (“AEG”) on June 29, 2026, HPS began reporting its results through two reportable operating segments: Power Magnetics and Integrated Electrical Solutions (“IES”).

Power Magnetics

Geography	Quarter 3, 2026	Quarter 3, 2025	$ Change	% Change	YTD 2026	YTD 2025	$ Change	% Change
US & Mexico*	288,728	153,699	135,029	87.9%	745,349	446,518	298,831	66.9%
Canada	57,622	51,395	6,227	12.1%	155,567	161,607	(6,040)	(3.7%)
India	9,159	8,931	228	2.6%	28,429	26,054	2,375	9.1%
Total	355,509	214,025	141,484	66.1%	929,345	634,179	295,166	46.5%

Power Magnetics sales in the U.S. market were $288,728 in the third quarter of 2026, increasing 87.9% from $153,699 in the third quarter of 2025. The U.S. market continued to drive significant year-over-year growth, driven by increases in data centre shipments, along with modest improvements in industrial markets versus the prior year.  The Canadian market sales increased in Quarter 3 to $57,622 as certain large custom project orders were completed. The quarter increase reduced the year-to-date decline to $6,040 or 3.7% from prior year

The Company’s Quarter 3, 2026 Power Magnetics backlog increased by 61.1% as compared to Quarter 3, 2025, primarily due to large project orders driven by data centre activity. Backlog decreased 3.8% from Quarter 2, 2026. While Quarter 3 2026 bookings were higher than in Quarter 2 2026, shipments (excluding AEG) were also higher by 12%, driving a decrease in backlog. 

The Company saw an increase in its Power Magnetics gross margin rate for Quarter 3, 2026 which was 34.3% compared to 29.7% in Quarter 3, 2025, representing an increase of 460 basis points. On a year-to-date basis, gross margin was 31.8% in 2026, compared to 30.4% in the prior year, an increase of 140 basis points.

“Our third-quarter was strong in many key aspects. Sales of $446.3 million were up 104% from last year, adjusted EBITDA nearly tripled to $84.0 million, and adjusted earnings per share doubled to $3.13. Gross margin reached 34.4%, up from 30.1% a year ago, as pricing actions, higher factory output, more custom products and better efficiency helped us offset tariffs and rising copper and aluminum costs. Reported earnings of $2.33 per share include one-time costs tied to the AEG acquisition, foreign exchange losses on acquisition hedges and higher interest on acquisition debt, while adjusted earnings, at $3.13, give a clearer picture of how well the underlying business performed”, said Richard Vollering, CFO of Hammond Power Solutions. “Cash conversion was high in the quarter, with cash generated from operations at $76.0 million in the quarter, compared with a small outflow a year ago, and we ended the quarter with a net operating cash position of $51.6 million, an improvement of more than $88 million since the end of June. As we move into the fourth quarter, our focus will be on maintaining tight operating discipline, continuing to generate cash, complete a successful integration of AEG and invest in the growth ahead”.

Integrated Electrical Solutions

IES sales were $90,754 for the quarter made up of a mixture of end markets including oil and gas, power generation, and offshore wind. Other emerging markets with notable shipments in the quarter include nuclear and data centres. The IES business achieved a gross margin rate of 39.5% for Quarter 3, 2026, excluding the impact of purchase accounting amortization recorded on consolidation, compared to 49.7% in 2025. The decrease is due to the change in product and service mix due to the inclusion of the AEG business.

Consolidated Financial Performance

Total selling and distribution expenses were $57,080 in Quarter 3, 2026, representing 12.8% of sales, compared to $24,224 or 11.1% of sales, in Quarter 3, 2025, an increase of $32,856. Year-to-date selling and distribution expenses were $120,262, or 11.6% of sales, compared to $71,209, or 11.1% of sales, in the prior period. AEG’s underlying operations contributed $15,041 of selling and distribution expenses, while purchase accounting amortization associated with acquired customer relationships contributed a further $1,844. The increase was primarily driven by higher Power Magnetics sales volumes and associated distribution costs required to support growth.

General and administrative and share-based compensation expenses were $23,675, or 5.3% of sales, in Quarter 3, 2026 compared to $16,534, or 7.6% of sales, in Quarter 3, 2025, an increase of $7,141. Year-to-date general and administrative expenses were $90,311 or 8.7% of sales, compared to $44,744 or 6.9% of sales in the prior-year period.  The change is mainly due to share-based compensation costs, ongoing strategic investments in people and resources to support our growth strategies and higher levels of general business activity.

Net earnings for Quarter 3, 2026 were $27,696, compared to $17,440 in Quarter 3, 2025, an increase of $10,256, or 58.8%. Year-to-date, net earnings were $56,655 in 2026, compared to $57,038 in the prior-year period, a decrease of $383, or 0.7%. The change was primarily driven by higher share-based compensation expenses, increased selling, distribution, general and administrative expenses, acquisition-related costs, and higher interest and foreign exchange expenses partially offset by higher sales and increased gross margin dollars

EBITDA for Quarter 3, 2026 was $68,783, compared to $28,746 in Quarter 3, 2025, an increase of $40,037. Adjusted EBITDA¹, which excludes foreign exchange losses, share-based compensation expenses and acquisition-related costs, was $84,045 for Quarter 3, 2026, compared to $30,290 in Quarter 3, 2025, an increase of $53,755. Year-to-date EBITDA was $125,532 in 2026, compared to $93,163 in 2025, an increase of $32,369 or 34.7%. Year-to-date adjusted EBITDA was $178,333 in 2026 and $94,603 in 2025, an increase of $83,730 or 88.5%.

Basic earnings per share for Quarter 3, 2026 were $2.33, compared to $1.46 in Quarter 3, 2025, an increase of $0.87. Year-to-date the basic earnings per share were $4.76 in 2026, compared to $4.79 in 2025, a decrease of $0.03. Adjusted earnings per share¹, which excludes the impact of foreign exchange losses, share-based compensation expense and acquisition-related costs, were $3.13 for Quarter 3, 2026, compared to $1.56 in Quarter 3, 2025, an increase of $1.57. Year-to-date adjusted earnings per share were $7.68 in 2026, compared to $4.88 in 2025, an increase of $2.80.

The Board of Directors of HPS declared a quarterly cash dividend of twenty-nine cents ($0.29) per Class A Subordinate Voting Share of HPS and a quarterly cash dividend of twenty-nine cents ($0.29) per Class B Common Share of HPS paid on September 24, 2026 to shareholders of record at the close of business on September 17, 2026. The ex-dividend date was September 17, 2026. Year-to-date the Company has paid a cash dividend of eighty-four cents ($0.84) per Class A Subordinate Voting Share and of eighty-four cents ($0.84) per Class B Shares.

^{__________________________
1} Refer to “Additional GAAP and Non-GAAP measures” in the Company’s Q3 2026 Management’s Discussion and Analysis

THREE MONTHS ENDED:
(dollars in thousands)

	September 26, 2026				September 27, 2025			Change
Sales	$	446,263		$	218,341		$	227,922
Earnings from operations	$	71,638		$	24,928		$	46,710
Exchange loss	$	8,189		$	57		$	8,132
Net earnings	$	27,696		$	17,440		$	10,256
Earnings per share Basic Adjusted* Diluted	$ $ $	2.33 3.13 2.33		$ $ $	1.46 1.56 1.46		$ $ $	0.87 1.57 0.87
Cash (used in) generated by operations	$	76,087		$	(2,137	)	$	78,224
EBITDA	$	68,783		$	28,746		$	40,037
Adjusted EBITDA*	$	84,045		$	30,290		$	53,755
Capital Spending	$	6,638		$	7,366		$	(728	)

NINE MONTHS ENDED:
(dollars in thousands)

		September 26, 2026			September 27, 2025			Change
Sales	$	1,035,905		$	644,163		$	391,742
Earnings from operations	$	123,873		$	82,057		$	41,816
Exchange loss	$	11,000		$	1,704		$	9,296
Net earnings	$	56,655		$	57,038		$	(383	)
Earnings per share Basic Adjusted* Diluted	$ $ $	4.76 7.68 4.76		$ $ $	4.79 4.88 4.79		$ $ $	(0.03 2.80 (0.03	) )
Cash generated by (used in) operations	$	81,040		$	(5,103	)	$	86,143
EBITDA	$	125,532		$	93,163		$	32,369
Adjusted EBITDA*	$	178,333		$	94,603		$	83,730
Capital Spending	$	21,533		$	27,048		$	(5,515	)

* Adjusted for foreign exchange gain or loss, share based compensation and acquisition costs

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements that relate to among other things, HPS’s strategies, intentions, plans, beliefs, expectations and estimates, in connection with general economic and business outlook, prospects and trends of the industry, expected demand for products and services, product development and the Corporation’s competitive position. Forward-looking statements can generally be identified, but not limited to, the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective” and “continue” and words and expressions of similar import. Although the Corporation believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to risks related to foreign currency fluctuations, changing interest rates, and the availability of external capital); risks associated with the Corporation’s business environment (such as risks associated with the financial condition of the oil and gas, mining and infrastructure project business); geopolitical risks; climate related risks; changes in laws and regulations; operational risks (such as risks related to existing and developing new products and services; doing business with partners and suppliers; product sales and performance; legal and regulatory proceedings; dependence on certain customers and suppliers; costs associated with raw materials, products and services; human resources; and the ability to execute strategic plans.) The Corporation does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.

This forward-looking information represents our views as of the date of this press release and such information should not be relied upon as representing our views as of any date subsequent to the date of this press release. We have attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimated, expressed or implied by the forward-looking information. However, there may be other factors that cause results, performance or achievements not to be as expected or estimated and that could cause actual results, performance or achievements to differ materially from current expectations.

There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those expected or estimated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

ABOUT HAMMOND POWER SOLUTIONS INC.

HPS enables electrification through its portfolio of power conversion, power distribution and power quality solutions, including dry-type transformers, power electronics and related products used across critical electrical infrastructure and industrial applications. The Company has manufacturing plants in North America, Europe, and Asia, and sells its products around the globe. HPS shares are listed on the Toronto Stock Exchange and trade under the symbol HPS.A.

Hammond Power Solutions – Energizing Our World

For further information, please contact:

David Feick
Investor Relations
519-822-2441
ir@hammondpowersolutions.com

CALGARY, Alberta, Oct. 29, 2026 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) announces that the Company will release its 2026 third quarter financial and operating results on Thursday, November 5, 2026, post-market. Gran Tierra will host its third quarter 2026 results conference call on Friday, November 6, 2026, at 9:00 a.m. Alberta Time, 10:00 a.m. Eastern Time, and 3:00 p.m. Greenwich Mean Time.

How to Participate in the 2026 Third Quarter Conference Call

Interested parties may register for the 2026 third quarter conference call by clicking on this link. Please note that there is no longer a general dial-in number to participate, and each individual party must register through the provided link. Once parties have registered, they will be provided a unique PIN and call-in details. There is also a feature that allows parties to elect to be called back through the “Call Me” function on the platform.

Interested parties can also continue to access the live webcast from their mobile or desktop devices by clicking on this link, which is also available on Gran Tierra’s website at https://www.grantierra.com/investor-relations/presentations-events/. An audio replay of the conference call will be available at the same webcast link two hours following the call and will be available until November 6, 2027.

Contact Information

For investor and media inquiries please contact:

Gary Guidry
President and Chief Executive Officer

Ryan Ellson
Executive Vice President and Chief Financial Officer

Tel: (403) 265-3221

info@grantierra.com

About Gran Tierra Energy Inc.

Gran Tierra Energy Inc., together with its subsidiaries, is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador. The Company is the operator of, and holds a 65% working interest in, an onshore exploration, development and production sharing agreement in Azerbaijan. Upon completion of the previously announced sale of its Colombian and Ecuadorian businesses (the “Sale”), the Company’s operations will be focused on Canada and Azerbaijan, and the Company will continue to pursue additional new growth opportunities that would further strengthen the Company’s portfolio.  The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Except to the extent expressly stated otherwise, information on the Company’s website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221.

Gran Tierra’s filings with the U.S. Securities and Exchange Commission (the “SEC”) are available on the SEC website at https://www.sec.gov. Gran Tierra’s Canadian securities regulatory filings are available on SEDAR+ at https://www.sedarplus.ca and UK regulatory filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

HOUSTON, Oct. 29, 2026 (GLOBE NEWSWIRE) — Evolution Petroleum Corporation (NYSE American: EPM) (“Evolution” or the “Company”) today announced that it plans to release its fiscal first quarter 2027 financial and operating results on Tuesday, November 10, 2026, after the market closes. Additionally, Kelly Loyd, President and Chief Executive Officer, Ryan Stash, Senior Vice President, Chief Financial Officer, and Treasurer, and Mark Bunch, Senior Vice President and Chief Operating Officer, will review the results on a conference call at 10:00 a.m. Central Time on Wednesday, November 11, 2026.

Conference Call and Webcast Details
Date: Wednesday, November 11, 2026
Time: 10:00 a.m. Central Time
US/Toll-Free Dial-in: (844) 481-2813 | International Dial-in: (412) 317-0677
Note: Dial-in participants should ask to join the Evolution Petroleum Corporation call.
Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=uYSuksKF
A webcast replay will be available through November 10, 2027, via the webcast link above and on Evolution’s website at www.ir.evolutionpetroleum.com.

About Evolution Petroleum

Evolution Petroleum Corporation is an independent energy company focused on maximizing total shareholder returns through the ownership of and investment in onshore oil and natural gas properties in the U.S. The Company aims to build and maintain a diversified portfolio of long-life oil and natural gas properties through acquisitions, selective development opportunities, production enhancements, and other exploitation efforts. Visit www.evolutionpetroleum.com for more information.

Contact

Investor Relations
(713) 935-0122
ir@evolutionpetroleum.com

SAN JOSE, Calif., Oct. 29, 2026 (GLOBE NEWSWIRE) — SI-BONE, Inc. (Nasdaq: SIBN), the global leader in developing procedural solutions to address clinical challenges associated with compromised bone, today announced that the company will be participating in the upcoming UBS Global Healthcare Conference in Palm Beach Gardens, FL. Management will be hosting a fireside chat on Tuesday, November 10, 2026, at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time.

Investors interested in listening to the conference call may do so by registering at this link SI-BONE, Inc. – 1781346. Live audio of the webcast will be available on the “Investors” section of the company’s website at: www.si-bone.com. The webcast will be archived and available for replay for at least 90 days after the event.

About SI-BONE, Inc.

SI-BONE (NASDAQ: SIBN) is a global leader in developing procedural solutions to address clinical challenges associated with compromised bone. With expertise in biomechanical design and anatomy specific innovation, SI-BONE has built a technology platform with market-leading applications centered on the spinopelvic anatomy. SI-BONE continues to leverage the deep experience in addressing the challenges of low-density bone in the sacrum to develop unique technologies that are targeting new clinical adjacencies to help improve outcomes for patients with compromised bone. Since 2009, SI-BONE has supported physicians in performing over 150,000 procedures. A unique body of clinical evidence supports the use of SI-BONE’s technologies, including four randomized controlled trials and over 190 peer reviewed publications.

For additional information on the company or the products, including risks and benefits, please visit www.si-bone.com.

SI-BONE® is a registered trademark of SI-BONE, Inc. ©2026 SI-BONE, Inc. All Rights Reserved.

Investor Contact: Saqib Iqbal investors@si-bone.com 

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS

TORONTO, Oct. 29, 2026 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or “Company”) (TSX: AVCN) (OTCQB: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announced that it has closed a non-brokered private placement (“Offering”) of 2,000 non-convertible debenture units of the Company (“Units”) at a price of $1,000 per Unit for aggregate gross proceeds of approximately $2,000,000. Each Unit consists of an aggregate of $1,000 principal amount of unsecured non-convertible debentures (“Debentures”) and 2,000 common share purchase warrants (each, a “Warrant”). The Debentures will mature one year following the closing of the Offering (“Maturity Date”).

“We have made progress, and continue to make progress, in developing, commercializing and optimizing our diversified portfolio of products through various platforms and business units. This financing provides additional working capital and financial flexibility to support our continued growth, strengthening our domestic and international commercial and operational endeavors, and expanding our roadmap for the future, while at the same time maintaining our focus on operational efficiencies and disciplined capital allocation” stated Aras Azadian, CEO of Avicanna.

The Debentures will bear interest at a rate of 13% per annum, payable monthly. Company paid each subscriber a one-time administrative fee equal to 2% of the aggregate principal amount of the Debentures subscribed for. Each Warrant is exercisable into one common share in the capital of the Company (each a “Warrant Share”) at a price of $0.20 per share for a period of three years from the closing of the Offering. The Company shall have the right at any time and from time to time during the period commencing on the date that is six months from the closing of the Offering and the Maturity Date, to repay up to 100% of the principal amount of the then outstanding Debentures. The Debentures will rank pari passu in right of payment of principal with all other Debentures issued under the Offering. The Debentures will initially be unsecured obligations of the Company, and the Company has agreed to enter into a general security agreement with the holders of Debentures, granting a security interest to secure the obligations of the Company under the Debentures, on or before the date that is one month following the closing of the Offering. The Company intends to use the proceeds from the Offering for general working capital purposes, general and administrative expenses, expenditures related to production and manufacturing, and research and clinical development.

All securities issued under the Offering, including securities issuable on exercise thereof, are subject to a hold period expiring on March 1, 2027.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange (the “TSX”).

About Avicanna Inc
Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of cannabinoid-based products and formulations for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development leading to the commercialization of more than thirty proprietary, evidence-based finished products and supporting four commercial stage business pillars.

• Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto is an established brand in Canada currently available nationwide across several channels and expanding into new international markets.
• Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients’ needs and enhance the medical cannabis patients’ journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens.
• Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders.
• Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company’s majority owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”) is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company’s international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company’s supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally.

SOURCE Avicanna Inc. 

Stay Connected 
For more information about Avicanna, visit our website or contact Ivana Maric by email at ir@avicanna.com. 

Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this news release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. Forward-looking information contained in this news release includes, without limitation, statements with respect to the Company’s future business operations, the opinions or beliefs of management and future business goals. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated March 31, 2026, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Mt. Laurel Township, NJ, Oct. 29, 2026 (GLOBE NEWSWIRE) —  Leader’s Advantage Acquisition Corp. (the “Company”) a blank check company whose business purpose is to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, announced today that it closed the sale of an additional 650,000 units of the Company, pursuant to the partial exercise of the underwriter’s over-allotment option granted in connection with the Company’s initial public offering (together with the over-allotment closing, the “Offering”), at the price of $10.00 per unit, resulting in additional gross proceeds of approximately $6,500,000.

After giving effect to this partial exercise of the over-allotment option, the total number of units sold in the Offering increased to 15,650,000 units, resulting in total gross proceeds of $156,500,000, before deducting underwriting discounts and estimated offering expenses.

The Company’s units began trading on September 18, 2026 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “LEDRU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “LEDR” and “LEDRW,” respectively.

The Company’s primary focus will be completing a healthcare-focused business combination with an established business of scale along with first-in-class drug candidates with large addressable markets poised for continued growth, led by a highly regarded management team, that the Company’s management believes would benefit from financial, operational, strategic or managerial enhancement to maximize value.

The Company’s management team is led by Dr. Paritosh M. Chakrabarti, Chairman and Chief Executive Officer, Dr. Raj Chakrabarti, President, and Edward Krynski, Chief Financial Officer.

Clear Street LLC acted as lead book-running manager and D. Boral Capital LLC acted as bookrunner for the Offering. 

A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on September 17, 2026. The Offering was made only by means of a prospectus. Copies of the final prospectus relating to the Offering may be obtained from: Clear Street LLC, Attn: Syndicate Department, 150 Greenwich Street, 45th Floor, New York, NY 10007, or via email at ecm@clearstreet.io and D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, or via email at dbccapitalmarkets@dboralcapital.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements 

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds from the Offering and the Company’s expectations regarding its ability to complete a business combination. No assurance can be given that the Company will ultimately complete a business combination transaction in the sector it is targeting, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contact:

Paul Weiss
pweiss@pmc-group.com