Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
Canada Goose Holdings Inc. (GOOS-T) on Thursday beat Wall Street estimates for quarterly revenue as affluent consumers undeterred by decades-high inflation snapped up its luxury parkas and jackets.
Higher-income customers are traveling and shopping in earnest after two years cooped up indoors, spending the savings they had built up during lockdowns on luxury companies from Ralph Lauren to Louis Vuitton.
Canada Goose’s revenue rose to $69.9-million in the first quarter ended July 3, from $56.3-million, a year earlier. Analysts had expected revenue of $62.6-million, according to IBES data from Refinitiv.
Its net loss widened to $63.6-million, or 59 cents per share, from $57.5-million, or 52 cents per share, a year earlier.
Cineplex reported net income of $1.3-million or 2 cents per share in the three months ended June 30, compared to a net loss of $103.7-million or $1.64 per share in the same period last year.
Its total revenues increased by 438.9 per cent in the second quarter to $349.9-million.
The expectation was for revenue to come in at $344.3-million, according to S&P Capital IQ.
Box office revenues per visitor increased to $12.29 compared to $10.89 at the same time last year, when the company’s higher-priced VIP theatres were closed, and other premium offerings such as 3D films were not available. Concession revenues also increased to $8.84 per visitor compared to $7.86 last year.
In a statement, chief executive officer Ellis Jacob called the results “a testament to the fact that when strong film product is available, Canadians return to our theatres in droves.”
- with files from Susan Krashinsky Robertson
“After careful consideration, the board concluded that CloudMD needs executive leadership with deep industry knowledge and operating experience during this period of considerable change at CloudMD,” stated independent director Duncan Hannay in a release.
Ms. Adams was appointed interim CEO on May 2 in addition to her position as president and global head of the enterprise health solutions division. Mr. Plunkett was previously the company’s executive vice-president of transformation and strategic planning and held the position of CFO MindBeacon Holdings Inc. before it was acquired by CloudMD.
Supremex Inc. (SXP-T) announced a 20-per-cent increase to its dividend and higher revenues year-over-year. The company said second-quarter revenue increased 20.7 per cent to $62.5-million, from $51.8-million in the second quarter of 2021. The expectation was for revenue of $64.4-million.
Net earnings increased to $7.4-million or 28 cents per share from $3.4-million or 12 cents last year. The quarterly dividend increases 20 per cent to 3 cents per share.
Net earnings attributable to the company’s shareholders of $10.8-million compared to $13.3-million last year. Adjusted net earnings of $31.6-million compared to $41.3-million last year.
Assets under management in the second quarter of $156.7 billion as of June 30 was a decrease of 10.2 per cent compared to March 31.
The co-founder and chief medical officer of Mind Medicine (MindMed) Inc. (MNMD-Q), Scott Freeman, is calling on the company’s board to adopt a new strategic plan.
The proposal from FCM MM HOLDINGS LLC, directed and managed by Dr. Freeman, includes having the company refocus on its core drugs, cut cash burn, and terminate MindMed’s at-the-money equity offering.
“FCM believes MindMed has underperformed—operationally, financially, and strategically—as a direct result of management’s lack of focus on its core drugs: MM-110 (18-MC) and MM-120 (LSD),” according to a release.
Well Health Technologies Corp. (WELL-T) reported record quarterly revenues of $140.3-million for its second quarter compared to revenue of $61.8-million a year ago. The results beat expectations of $130.3-million.
Its net loss was $792,000 or 3 cents per share versus a loss of $11.5-million or 8 cents a year ago. Adjusted net income was $17.2-million or 8 cents per share compared to an adjusted net loss of $1.2-million or a penny per share a year ago. The expectation was for adjusted EPS of 5 cents.
The company also raised its third-quarter guidance.
Net income of US$22.2-million or 19 US cents per share compared to net income of US$11.9-milion or 15 US cents a year ago.
AutoCanada Inc. (ACQ-T) reported second-quarter revenue came in at $1.686-billion as compared to $1,281.1-billion in the same quarter last year, which the company said was the highest second-quarter revenue in its history.
Net income was $39.1-million or $1.40 per share compared to net income of $37.7-million or $1.23 per share in the prior year. Adjusted EPS came in at $1.33 per share versus $1.23 a year ago.
The expectation was for revenue to come in at $1,695-million and adjusted earnings of $1.26 per share, according to S&P Capital IQ.
Linamar Corp. (LNR-T) reported second-quarter sales of $1.981.6-billion, up $406.3-billion from $1,575.3-billion in the second quarter of 2021. The result was ahead of expectations of $1.749.2-billion.
The company’s normalized operating earnings came in at $149.2-million or $1.68 per share compared to $152.2-million or $1.63 a year ago. The expectation was for earnings to come in at $1.38 per share in the latest quarter.
Stelco Holdings Inc. (STLC-T) reported second-quarter revenue increased to $1.037-billion from $918-million in the year-ago quarter. The result was in line with expectations, according to S&P Capital IQ
Net income of $554-million for $7.67 per share compared to net income of $363-million or $4.09 last year. Adjusted EPS came in at $4.93 compared to $4.32 last year and ahead of expectations of $4.40 for the latest quarter.
Adjusted EBITDA totaled $464-million, an increase of $54 million from $410-million a year ago “which reflects an increase in average selling price per net ton, partly offset by higher cost of goods sold.”
Pollard Banknote Limited (PBL-T) reported second-quarter sales of $115.9-million, up from $113.4-million in the second quarter of 2021. The expectation was for revenue to come in at $117-million, according to S&P Capital IQ.
Net income of $2.5-million or 9 cents per share compared to net income of $7.7-million or 29 cents a year ago. Adjusted EBITDA decreased to $18.9-million in the second quarter compared to $22.6-million in the second quarter of 2021.
Copperleaf Technologies Inc. (CPLF-T) reported second-quarter revenue of $20.6-million, an increase of 23 per cent over a year ago, “driven by the increase in new clients and expansion of existing clients.” The expectation was for revenue to come in at $18.9-million.
Its net loss of $7.4-million or 11 cents per share compared to a net loss of $1.6-million or 10 cents per share a year ago. The expectation was for a loss of 14 cents per share in the latest quarter.
“The increase in lending was driven by a record volume of applications for credit, which were up 51 per cent over the prior year, leading to a record level of loan originations across several of the company’s products and acquisition channels,” it stated.
Operating income was a record $85.2-million, up 52 per cent from $56.1-million in the second quarter of 2021. Net income in the second quarter was $38.3-million, up 97 per cent from $19.5-million in the same period last year. Diluted EPS came in at $2.32 versus $1.16 in the second quarter of 2021, the company said.
Adjusted EPS came in at a record $2.83 versus $2.61 a year ago and ahead of expectations of $2.74 per share.
Net earnings came in at $8.1-million or 13 cents per share compared to $2-million or 3 cents a year ago. Adjusted EPS of 14 cents per share was below expectations of 16 cents and ahead of adjusted EPS of 8 cents a year ago.
Ag Growth International Inc. (AFN-T) reported second-quarter sales of $389.9-million up from $301.6-million a year ago. The result was ahead of expectations of $358.6-million, according to S&P Capital IQ.
The company also reported a loss of $4.9-million or 26 cents per share in the quarter versus a profit of $14.3-million or 74 cents a year ago. Adjusted profit came in at $25.2-million or $1.20 per share compared to $16.5-million or 85 cents a year ago. The expectation was for adjusted EPS of 92 cents.
Rogers Sugar Inc. (RSI-T) reported revenue of $254.6-million for its third fiscal quarter ended June 30, compared to $210.9-million in the year-ago quarter. The expectation was for revenue of $246-million.
Net earnings of $3.1-million or 3 cents per share versus earnings of $6.8-million or 7 cents a year ago. Adjusted EPS came in at 8 cents versus 4 cents a year ago.
Its net loss attributable to owners of the company was US$4.2-million or 2 US cents per share compared to a loss of US$2.9-million or 3 US cents a year ago.
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