Skip to main content

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news

Pet Valu Holdings Ltd. (PET-T) reported same-store sales growth of 25.8 per cent in the first quarter over a year ago. Revenue was $213.3-million, up 25.4 per cent versus $170.1-million the prior year. Net income was $22.6-million or 32 cents per share, up from $3.4-million or 3 cents in the prior year. The results were ahead of expectations of $200.2-million in revenue and earnings of 29 cents per share.

In its outlook, the company now expects revenue to come in between $870-million and $895-million for the year, supported by same-store sales growth between 9 and 12 per cent and 35 to 45 new store openings.

That compares to its previous outlook of revenue between $845-million and $870-million, supported by same-store sales growth between 6 and 9 per cent and 30 to 45 new store openings.

Adjusted EBITDA is expected to be between $191-million and $198-million. That compares to a previous forecast of between $187-million and $194-million million. Adjusted net income per diluted share is expected to be between $1.37 and $1.44.

**

Computer Modelling Group Ltd. (CMG-T) announced that Ryan Schneider has stepped down as president and CEO and as a director of the company, effective immediately, “to pursue other opportunities.”

The company appointed Pramod Jain as CEO. Mr. Jain was most recently the president and chief operating officer of Plusgrade LP, a Montreal-based SaaS e-commerce business.

**

BTB Real Estate Investment Trust (BTB-UN-T) reported net income of $6.4-million for the first quarter compared to $2.5-million for the same period in 2021.

Rental revenue stood at $29.1-million, which the company said represents an increase of 23.5 per cent compared to the same quarter of 2021.

Net operating income was $16.2-million for the quarter, an increase of 30.8 per cent compared to the same quarter of 2021.

**

Melcor Developments Ltd. (MRD-T) reported that first-quarter revenue for the quarter was up 23 per cent to $53.3-million compared to the same time last year.

Funds from operations (FFO) increased 5 per cent to $10.70 million or 33 cents per share versus last year. Net income was $2.5-million compared to a net loss of $14-million a year ago.

**

Slate Grocery REIT (SGR-UN-T) reported rental revenue of US$39-million up from US$32.5-million a year ago.

Net income of US$27.4-million was down from US$60.8-million a year ago.

**

Flagship Communities Real Estate Investment Trust (MHC-U-T) reported first-quarter revenue of US$13.7-million, up from US$9.6-million a year ago and in line with expectations of US$13.4-million.

Net income was US$2.4-million down from US$6.6-million a year ago, the company stated.

**

Dialogue Health Technologies Inc. (CARE-T) reported a net loss of $7.1-million for the first quarter compared to a loss of $231.2-million a year ago.

Revenue came in at $20.7-million, which was in line with expectations and up from $15.2-million a year ago.

**

Ero Copper Corp. (ERO-T) reported revenue of $108.9-million for the first quarter, down from $122.5-million a year ago.

Net income of $52.5-million or 57 cents per share compared to net income of $31.7-million or 34 cents a year ago.

Adjusted income was $33-million or 36 cents per share compared to adjusted income of $56.3-million or 61 cents a year ago. The expectation was for adjusted EPS of 50 cents in the latest quarter, according to S&P Capital IQ.

**

Profound Medical Corp. (PRN-T) reported first-quarter revenue of US$1.4-million up from US$711,000 a year ago.

Its net loss attributed to shareholders was US$8.2-million or 40 US cents per share versus a loss of US$7.5-million or 37 US cents a year ago. The expectation was for a loss of 43 US cents, according to S&P Capital IQ.

**

Inovalis Real Estate Investment Trust (INO-UN-T) reported first-quarter net income of $2.3-million down from $4.2-million a year ago.

Funds from operations came in at $3-million or 9 cents per unit versus $4.1-million or 12 cents a year ago. Adjusted FFO per unit was 10 cents, which was above expectations of 7 cents and compared to 11 cents a year ago.

**

Chemtrade Logistics Income Fund (CHE.UN-T) reported revenue of $390.3-million for the first quarter, an increase of $77.9-million year-over-year and ahead of expectations of $349.4-million.

Net earnings of $10.7-million compared to a net loss of $20.4-million a year ago.

The company also increased its 2022 adjusted EBITDA guidance to a range of $300-million to $330-million, compared to the previous 2022 guidance range of $265-million to $295-million. The company said the change reflects “strong first quarter 2022 results and ongoing favourable market fundamentals for most of Chemtrade’s key products.”

**

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