Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
First-quarter revenues of $161.7 million were up 13 per cent compared to $142.8-million in the year-ago period. Net earnings of $12-million or 7 cents per share compared to a net loss of $6.6-million or 7 cents a year ago. Adjusted EPS was 19 cents versus 26 cents a year ago.
Analysts were expecting revenue of $160.5-million and adjusted EPS of 29 cents.
Net income was $114.7-million versus a loss of $12.1-million a year earlier. Funds from operations came in at $36.2-million versus $31-million a year ago.
Adjusted FFO per unit increased by 3.7 per cent to 21 cents, which compared to expectations of 22 cents.
Its net loss of $17.3-million or 11 cents per share, compared to profit of $33.4-million. Adjusted income was $25-million or 16 cents per share.
Its net loss of $225.7-million, or 86 cents per share, versus a profit of $2.2-million, or a penny per share, a year earlier.
Net income was $15.7-million versus a loss of $17.9-million a year ago.
Funds from operations came in at $10.8-million, or 22 cents, versus $8.6-million, or 27 cents, a year ago. Analysts were expecting FFO of 24 cents per share.
"This new distribution rate provides additional financial flexibility to absorb any income interruption related to the pandemic in the near term, and allows for significant capital reinvestment into our properties to address tenant turnover without increasing the REIT's financial leverage," the REIT stated.
The REIT also reported a first-quarter loss of $1-billion versus a loss of $2-million a year ago. It said the larger first-quarter loss was "primarily due to the fair value adjustment on real estate assets."
Rentals from investment properties came in at $279.7-million down from $298.7-million a year earlier. Funds from operations came in at $136.1-million or 45 cents per unit versus $137-million or 46 cents a year earlier. Analysts were expecting FFO of 43 cents.
Tricon Capital Group Inc. (TCN-T) reported revenue from rental properties of US$116.2-million, compared to US$67.5-million a year earlier, “reflecting the U.S. multi-family rental portfolio acquisition in the second quarter of 2019 and significant growth of the single-family rental portfolio along with improvements in average monthly rent and occupancy.”
Its net loss of US$40.5-mllion or 21 cents US per share compared to a profit of US$22.7-million or 15 cents US a year earlier.
Funds from operations came in at US$27-million or 13 cents per share compared to US$8.7-million or 5 cents US a year ago. Analysts were expected FFO of 15 cents.
Its loss was US$76.1-million, or 29 cents per share, versus a loss of US$13.4-million, or 5 cents, a year earlier.
Net income of US$4.2-million or 8 cents US per share versus $6.5-million or 13 cents US a year ago. Analysts were expecting a loss of 5 cents US.
Its net loss was $2-million or 32 cents per share versus a loss of $1.5-million a year earlier.
Aurora Cannabis Inc. (ACB-T) posted a smaller loss compared with the prior quarter as customers in the United States and Canada stockpiled cannabis ahead of lockdowns, sending its U.S.-listed shares up 13 per cent after the bell on Thursday.
The Canadian pot producer sold 12,729 kilograms of cannabis in the third quarter, 39 per cent more than a year earlier. The sales spike comes as cannabis is an essential service in several provinces and states across Canada and the Unites States.
Its reported quarter was the first full period of sales in its so called cannabis 2.0 portfolio, which includes vapes, edible gummies, chocolates and beverages, products that customers rushed to stock up ahead of the COVID-19 lockdowns.
The company said it was on track to be profitable in the next fiscal year and doubled down on its plans to keep capital expenditure below $100 million in the second half of the year.
Aurora said it expected capital spending in the first quarter of fiscal 2021 to be lower than the third and fourth quarters of 2020.
The Edmonton, Alberta-based company said adjusted loss before interest, tax, depreciation and amortization fell to $50.8 million for the third quarter ended March 31 from $80.2 million a quarter ago.
Quarterly revenue rose to $75.5 million in the third quarter ended March 31 from $56 million in the prior quarter.
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