Skip to main content
//empty //empty

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Canadian manufacturer Bombardier Inc. (BBD.B-T) reported a surprise second-quarter loss on Thursday, hurt by higher costs in its train business and a more than 40-per-cent drop in business jet deliveries due to the COVID-19 pandemic.

The plane and train maker recorded an additional charge of $435-million in its rail business in the quarter, mainly related to engineering, certification and retrofit costs for many late-stage projects in the UK and Germany.

Story continues below advertisement

This led to an adjusted loss of $319-million compared with a profit of $312-million a year earlier, the company said. Analysts on average were expecting Bombardier to report profit before interest, taxes, depreciation and amortization of $39.33 million.

-Reuters

**

Cargojet Inc. (CJT-T) reported revenues of $196.1-million for the second quarter compared to $119.1-million a year ago. Analysts were expecting revenue of $130.2-million.

Adjusted EBITDA was $91.1-million compared $37.5-million a year ago.

**

NFI Group Inc. (NFI-T) reported second-quarter revenue of US$333.3-million, a 51.2-per-cent decline year-over-year that the company says “significantly impacted gross margin and net income as a result of the COVID-19 pandemic related facility idling and reduced output for the quarter.” Analysts were expecting revenue to come in at US$277.2-million.

Story continues below advertisement

Its net loss was US$74.1-million or US$1.18 per share versus a profit of US$8.5-million a year ago. Its adjusted net loss was US$60.6-million or 97 cents US per share versus a profit of US$25.8-million or 54 cents US a year ago. Analysts were expecting an adjusted loss of 78 US cents per share.

After idling facilities for the majority of the second quarter, the company said it has restarted all manufacturing facilities in mid-May through June and has now begun the recovery from the impacts of COVID-19.

"Based on the Company's contractually obligated vehicle sales, updated production schedule, expected private market deliveries and anticipated aftermarket sales, management is now reintroducing adjusted EBITDA guidance for fiscal 2020," it stated.

It expected to deliver adjusted EBITDA of US$145-million to US$155-million for fiscal 2020, which it said would represent US$113-million to US$123-million during the second half of 2020.

**

Yellow Pages Ltd. (Y-T) reported second-quarter revenues of $88.3-million down from $106.8-million a year ago. The expectation was for revenue to come in at $89-million.

Story continues below advertisement

Net earnings were $22-million or 73 cents per share versus earnings of $14.6-million or 51 cents a year ago.

"The improvement in profitability of $7.4-million for the three-month period ended June 30, 2020, compared to the same periods last year, is explained principally by lower financial charges, lower depreciation and amortization expenses, and a decrease in restructuring and other charges partially offset by lower Adjusted EBITDA," the company stated.

**

Cascades Inc. (CAS-T) reported sales of $1.29-billion for its second quarter ended June 30 compared to $1.28-billion a year ago. Analysts were expecting revenue of $1.35-billion.

Net earnings came in at $54-million or 57 cents per share versus $31-million or 33 cents a year ago.

**

Story continues below advertisement

Canaccord Genuity Group Inc. (CF-T) reported revenue of $377.7-million for its first quarter ended June 30, which it said is the company’s highest quarterly revenue on record and compared to $325.5-million for the same quarter a year ago.

Net income was $29-million or 22 cents per share versus net income of $24.3-million or 18 cents a year ago. Analysts were expecting earnings of 16 cents and revenue of $285-million.

The company also increased its quarterly dividend to 5.5 cents per share up from 5 cents.

"Our performance for the fiscal first quarter reflects our agile and defensive business mix that allows us to shift resources where needed to ensure excellent client experiences in any environment," said CEO Dan Daviau in a release. "We achieved record quarterly revenues, with all businesses contributing to our profitability, and, in keeping with our commitment to increase shareholder returns, we increased our quarterly common share dividend by 10 per cent."

**

Spin Master Corp. (TOY-T) reported second-quarter revenue of US$281.1-million, down from US$321-million a year earlier. Analysts were expecting revenue of US$255.1-million in the latest quarter.

Story continues below advertisement

Its net loss was US$14.9-million or 15 US cents per share, compared to net income of US$10.2-million or 10 US cents per share a year ago.

Its adjusted net loss was US$9.5-million or 9 US cents per share, compared to adjusted net income of US$19.8-million or 19 US cents last year. Analysts were forecasting an adjusted EPS loss of 11 US cents.

**

Tricon Residential Inc. (TCN-T), formerly Tricon Capital Group Inc., reported second-quarter net operating income of US$77-million compared to US$50.8-million a year ago, “primarily driven by a larger single-family rental portfolio along with improved operating metrics and the inclusion of a full-quarter results from the U.S. multi-family portfolio (as opposed to a half-month of results in Q2 2019).”

Net income was US$17.3-million or 9 US cents per share compared to US$10.7-million or 3 US cents per share a year ago, “driven by higher net income from growth in the rental portfolio, stronger operating metrics in Tricon’s single-family rental business as well as lower corporate overhead expenses year-over-year.”

**

Story continues below advertisement

Score Media and Gaming Inc. (SCR-X) announced a $25-million bought-deal offering. It has an agreement with a syndicate of underwriters that has agreed to purchase 38,500,000 Class A subordinate voting shares for 65 cents each.

The company said it intends to use the net proceeds for working capital and general corporate purposes, "including funding the continued growth and development of its gaming operations in the United States and Canada."

**

Rogers Sugar Inc. (RSI-T) reported revenue of $206.1-million for its third quarter ended June 27 compared to $191.4-million a year earlier.

Net earnings were $5.5-million or 5 cents per share versus net earnings of $10.4-million or 10 cents a year ago.

Analysts were expecting revenue of $188.4-million and earnings of 7 cents per share.

**

Badger Daylighting Ltd. (BAD-T) reported second-quarter revenues of $134.5-million down from $161.2-million for the same period last year. Analysts were expecting revenue to come in at $132.1-million.

Net profit was $1.7-million or 5 cents per share versus $11.9-million or 33 cents a year ago.

**

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.

Report an error Editorial code of conduct
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies