Mullen Group Ltd. Internal Growth Drives Record Quarterly Financial Results
Key Highlights
- ➤Q3 revenue $653.2 million, up 16.3% on $44.3 million internal growth
- ➤Q3 adjusted OIBDA $118.6 million, up 23.0% year over year
- ➤Q3 net income $51.5 million, up 55.1%; diluted EPS $0.52
- ➤S&I revenue $131.1 million, up 24.7%, led by pipeline and drilling demand
- ➤Net debt to operating cash flow 2.16:1 versus 3.50:1 covenant threshold
Expert Statements
Murray Mullen, Chair and Senior Executive Officer of Mullen Group Ltd.
“Nothing better than reporting record results. What makes it even more satisfying is that we achieved these results when negative headlines were so prevalent. Trade issues, regional conflicts and rising energy costs are not typically confidence builders, for consumers or businesses. Yet, here we are, generating excellent results and maintaining a strong, well-funded balance sheet. There is a lot to like about our business these days.”
Murray Mullen, Chair and Senior Executive Officer of Mullen Group Ltd.
“As good as the third quarter was for the Mullen Group, I am of the view that it can be even better. Consider the logistics requirements associated with those Nation Building Projects the politicians are promoting, once they come to fruition. We are uniquely positioned to meet the increased demand associated with these massive capital projects. Plus, we will continue to do what we do best: invest in quality acquisition opportunities, like the recent Willson International announcement. None of this is possible, however, without our people. We have over 8,500 associates in our organization who make things happen every day, often without recognition and rarely with any fanfare. I know it, and I want you to know that your professionalism and efforts are valued. On behalf of the Senior Executive and all Shareholders, THANK YOU,”
OKOTOKS, Alberta, Oct. 22, 2026 (GLOBE NEWSWIRE) -- (TSX: MTL) Mullen Group Ltd. ("Mullen Group", "We", "Our" and/or the "Corporation"), one of Canada's largest logistics providers today reported its financial and operating results for the period ended September 30, 2026, with comparisons to the same period last year. Full details of our results may be found within our Third Quarter Interim Report, which is available on the Corporation's issuer profile on SEDAR+ at www.sedarplus.ca or on our website at www.mullen-group.com.
“Nothing better than reporting record results. What makes it even more satisfying is that we achieved these results when negative headlines were so prevalent. Trade issues, regional conflicts and rising energy costs are not typically confidence builders, for consumers or businesses. Yet, here we are, generating excellent results and maintaining a strong, well-funded balance sheet. There is a lot to like about our business these days,” commented Mr. Murray Mullen, Chair and Senior Executive Officer.
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