ADF Group FY26 Q2 net income drops to C$898,000; revenue falls to C$53 million

  • ADF Group revenue fell 29.2% to CAD 53 million in the quarter ended July 31, 2025.
  • Net income dropped to CAD 898,000 from CAD 16 million, while gross margin narrowed 16.2 percentage points to 20.7%.
  • Six-month revenue slid to CAD 108.5 million from CAD 182.3 million, due to uncertainty around U.S. tariffs and higher steel prices.
  • Order backlog climbed 60% to CAD 468 million as of July 31, 2025; projects are set to run through fiscal 2027.
  • ADF landed a five-year Quebec energy infrastructure contract worth CAD 35 million-CAD 40 million per year, with an option to extend five years.


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