Wednesday’s small-cap stocks to watch

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

Crescent Point Energy Corp. (CPG-N; CPG-T) reported a loss of $2.3-billion of $4.40 per share versus a profit of $1.9-million a year earlier. Adjusted earnings were $48.7-million or 9 cents versus $158.3-million or 29 cents a year earlier.

Adjusted funds flow from operations was $309.5-million or 59 cents per share versus $514-million or 93 cents a year ago. Analysts were expecting adjusted FFO of 60 cents.

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Premier Gold Mines Ltd. (PG-T) reported first-quarter revenue of US$22.7-million versus US$23.1-million a year ago.

Its net loss of US$11.9-million or 5 cents US per share compared to a loss of US$900,000 a year earlier.

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Norbord Inc. (OSB-T; OSB-N) reported first-quarter sales of US$467-million versus US$476-million a year earlier. Earnings were US$28-million or 25 cents per share versus US$1-million or a penny per share a year earlier.

Adjusted earnings of US$21-million or 26 cents US per share compared to an adjusted loss of US$2-million or 2 cents US per share in the first quarter of 2019.

Analysts were expecting revenue of US$436.6-million and adjusted earnings of 22 cents US.

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Stelco Holdings Inc. (STLC-T) reported first-quarter revenue of $445-million, compared to $515-million for the same quarter last year. Analysts were expecting revenue of $444.5-million.

Its net loss was $24-million or 27 cents per share versus a profit of $43-million or 48 cents a year ago. Adjusted EPS was a loss of 29 cents versus a profit of 68 cents a year ago.

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Hardwoods Distribution Inc. (HDI-T) reported first-quarter sales by 13.2 per cent year-over-year to a new quarterly record of $325.1-million.

Profit for the first quarter grew to $9.4-million, from $6-million a year ago. Adjusted profit increased to $9.4-million or 44 cents per share from $6.5-million or 30 cents per share.

Analysts were expecting revenue of $325.1-million and adjusted earnings of 35 cents.

The company said the impact of the COVID-19 pandemic on its second-quarter and full-year 2020 results is "difficult to quantify as it will depend on the duration of the contagion, the impact of government policies, and the subsequent pace of economic recovery."

It said sales were approximately 23-per-cent lower in April than in March "as a result of the COVID-19 related reduction in economic activity and its impact on the pace of construction activity in the market."

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Rogers Sugar Inc. (RSI-T) reported second-quarter revenue of $199.1-million, up from $189.3-million a year earlier. Analysts were expecting revenue of $190.1-million.

Net earnings came in at $965,000 or a penny per share versus a profit of $8-million or 8 cents a year ago. Adjusted EPS was 4 cents versus 5 cents a year earlier.

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Alaris Royalty Corp. (AD-T) announced a dividend cut and reported first-quarter revenue of $34-million, up from $27.5-million a year ago.

Its net loss was $42-7-million or $1.16 per share versus a profit of $11.3-million or 31 cents a year ago.

The company said it would reduce in its dividend by 30 per cent to $1.16 annually and 29 cents per quarter from $1.65 annually and 41.25 cents per quarter.

“Our new dividend rate not only reflects what we expect to be a short-term cash flow disruption associated with the COVID-19 pandemic, but moving forward it will allow us to achieve our long-term payout ratio objectives once our cash flow streams from our partners normalize,” stated Steve King, CEO of Alaris.

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MORE TO COME