Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Home Capital Group Inc. (HCG-T) reported a 40 per cent drop in its first-quarter income from the same period last year, before it was hit with allegations of misleading investors.
The Toronto-based mortgage lender said income in the three months that ended March 31 was $34.6-million, or diluted earnings of 43 cents per share.
That compares to a net income of $58-million and diluted earnings of 90 cents per share in the same quarter of last year.
The company said in a statement that the numbers reflect “the impact of reduced loan balances and lower securitization income, partially offset by lower non-interest expenses.”
- The Canadian Press
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Slate Office REIT (SOT.UN-T) reported first-quarter net income of $7.9-million down from $8.4-million a year earlier. Rental revenue was $44.3-million, an increase from $32.3-million a year ago and compared to expectations of $45.6-million, based on one analyst estimate. Adjusted funds from operations came in at $10.1-million or 16 cents per unit compared to $8.8-million or 19 cents a year earlier. The expectation was for adjusted FFO of 17 cents per share in the latest quarter, based on three analyst estimates.
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Torstar Corp. (TS-B-T) says it lost $14.5 million in its first quarter compared with a loss of $24.3 million in the same quarter last year.
The newspaper publisher says the loss amounted to 18 cents per share for the quarter ended March 31 compared with a loss of 30 cents per share for the same period a year earlier.
Revenue for the quarter totalled nearly $129 million, down from $138.7 million a year ago.
On an adjusted basis, Torstar says it lost 20 cents per share for the quarter compared with an adjusted loss of 22 cents in the same quarter last year.
Analysts had estimated $125 million of revenue for the quarter and a loss of 14 cents per share, according to data from Thomson Reuters Eikon.
The company says it sold Workopolis.com and related assets to Recruit Holdings Co. Ltd. in April. Following the sale and wind up of the remaining Workopolis business, the company estimates the net proceeds will be in the range of $2 million to $4 million.
- The Canadian Press
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Supremex Inc. (SXP-T) says revenue for the first quarter ended March 31, increased by 8.4 per cent to $48.9-million over last year, “primarily from the contribution of Stuart Packaging Inc. acquired in July 2017 as part of the Company’s strategy to diversify into the packaging market.”
Net earnings were $3.3-million down from $4.1-million a year earlier.
Adjusted net earnings were at $3.6-million or 13 cents per share compared with $4.1-million or 14 per share for the equivalent period in 2017.
Analysts were expecting revenue of $49.1-million and adjusted earnings of 16 cents per share.
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Boralex Inc. (BLX-T) reported revenue from energy sales of $152-million in the first quarter versus $119-million a year earlier, based on IFRS accounting standards. Net earnings came in at $20-million or 26 cents per share versus $15-milion or 21 cents a year ago. Analysts were expecting earnings of 31 cents in the latest quarter and revenue of $141-million.
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Paramount Resources Ltd. (POU-T) reported a loss of $81.1-million in the first quarter, or 61 cents per share, versus expectations of a loss of 51 cents per share. That compared to net income of $20.7-million or 19 cents for the same period a year ago. Adjusted funds flow was $97.6-million or 73 cents per share, versus expectations of 79 cents and compared to $28-million or 26 cents a year ago.
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Bonterra Energy Corp. (BNE-T) reported revenue of $57.1-million in the first quarter compared to $49.3-million for the same quarter last year. The expectation was for revenue of $58.2-million in the latest quarter. Funds flow from operations was $28-million or 84 cents per share compared to $25.2-million or 76 cents a year earlier. Net earnings came in at $3.4-million or 10 cents per share versus $475,000 or a penny per share a year earlier.
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Liquor Stores N.A. Ltd. (LIQ-T) reported sales of $125.8-million in the first quarter, down slightly from $127.8-million a year earlier. Its net loss from continuing operations was $1.8-million or 6 cents per share compared to a net loss from continuing operations of $2.9-million or 11 cents for the same quarter last year. Analysts were expecting revenue to come in at $129.2-million and a loss of 4 cents.
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CanWel Building Materials Group Ltd. (CWX-T) reported revenues of $295-million in the first quarter compared to $222.8-million in the same period in 2017. Net earnings increased to $6.5-million versus $1.7-million a year earlier. EBITDA was $15.6-million versus $8.2-million a year ago. Analysts were expecting revenue of $286.1-million and EBITDA to come in at $12.9-million.
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Gibson Energy Inc. (GEI-T) reported first-quarter revenue of $1.7-billion up from $1.4-billion a year earlier. Net income was $12.8-million or 9 cents per share versus a loss of $3.1-million or 2 cents a year earlier. Analysts were expecting earnings of 9 cents and revenue of $1.6-billion in the most recent quarter.
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Melcor Developments Ltd. (MRD-T) reported revenue of $44.4-million in the first quarter, up 15 per cent over the same quarter last year. Net income was $14.7-million or 44 cents per share compared with a net loss of $9-million or 27 per share a year earlier. Funds from operations (FFO) was was $4.9-million or 15 cents per share compared with $6.1-million or 18 cents per share in the same period of 2017.
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Shawcor Ltd. (SCL-T) reported first-quarter revenue of $351-million, down 3 per cent from $360-million reported in the first quarter of 2017. Net income was $5.2-million or 7 cents per share compared with net income of $15.4-million or 22 cents per share in the first quarter of 2017. Analysts were expecting revenue of $312.8-million and earnings of 11 cents.
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Exchange Income Corp. (EIF-T) reported first-quarter revenue of $266-million up from $222.5-million a year earlier. Net earnings came in at $8.6-million or 27 cents per share verus $5.6-million or 18 cents a year ago. Adjusted net earnings for the period came in at $12.9-million or 41 cents per share compared to $7.8-million or 25 cents a year earlier. Analysts were expecting revenue of $259.2-million and adjusted earnings of 35 cents per share.
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Emblem Corp. (EMC-X) says it has agreed to issue 482,758 common shares to a former shareholder of its predecessor KindCann Holdings Limited as part of a settlement related to Class A shares of the former company. The common shares will be issued at a price of $1.45 per share. The stock closed Tuesday at $1.42, before the announcement.
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Lucara Diamond Corp. (LUC-T) reported first-quarter revenues of US$25.4-million or US$401 per carat versus US$26.1-million U$405 per carat for the same period last year. Its net loss was US$7-million or 2 cents per share as compared to a loss of US$1.5-million or nil per share a year earlier “attributable to lower revenues, higher depletion and amortization costs, higher administrative and other expenses as compared to the same period in 2017.” Analysts were expecting a loss of a penny per share.
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Horizon North Logistics Inc. (HNL-T) reported first-quarter revenue of $82.6-million up from $70.5-million a year earlier. Its loss was $6.1-million or 4 cents per share versus income of $5.1-million or 4 cents a year earlier. Analysts were expecting revenue of $83.3-million and a loss of 2 cents per share.
The company also announed that it has entered into a master teaming agreement with EllisDon Corp., which applies to specified projects such as hotels, commercial buildings, and multi-family structures. “Horizon North and EllisDon will select, pursue, and execute such projects jointly, bringing the respective strengths of each organization to customers,” the company said.
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Summit Industrial Income REIT (SMU.UN-T) reported net income of $28.6-million or 39.5 cents per unit in the first quarter compared to $6.2-million or 15.5 cents per unit a year earlier. Revenue from income properties was $21.4-million up from $13-million a year ago. Funds from operations came in at $9.7-million or 14.5 cents per unit, which was in line with expectatioins and up from $5.5-million or 13.8 cents per unit a year ago.
It also agreed to sell a 75-per-cent interest in four properties — three in Ontario and one in Quebec — to a major Canadian institution for a total of about $46.4-million. It said the proceeds will be used to reduce the REIT’s revolving operating credit facility and for future acquisitions.
The REIT also approved a special distribution of 1.8 cents per unit to be paid on May 31 to unitholders of record as of May 16.
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Bird Construction (BDT-T) reported a net loss of $6.4-million or 15 cents per share on construction revenue of $294.4-million in the first quarter. That compared with a net loss of $2.2-million or 5 cents per share on $313.9-million of construction revenue for the same period in 2017. “The first quarter of the year is generally the lowest volume quarter of the year, particularly for our higher margin self-perform civil operations in western Canada and our mining operations in eastern Canada,” the company stated. “This coupled with an industrial work program that had lower backlog entering the year from a historical perspective contributed to a softer first quarter.” Analysts were expecting revenue of $299.6-million in the latest quarter and loss of 5 cents per share.
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Bellatrix Exploration Ltd. (BXE-T; BXE-N) reported a loss of $12.9-million or 26 cents per share in the first quarter versus a profit of $13-million or 23 cents a year earlier. “The decrease in net profit period over period is primarily due to a decrease in the unrealized gain on commodity contracts and a 6-per-cent decrease in commodity prices, offset partially by a decrease in production expenses,” the company said. Adjusted funds flow was $14.7-million or 30 cents per share versus $14.9-million or 26 cents a year ago. Total revenue came in at $66.2-million compared to $66-million for the same quarter last year.
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Semafo Inc. (SNF-T) reported gold sales of US$62.7-million in the first quarter compared to US$66.9-million for the same period in 2017. Its net loss attributable to equity shareholders of US$4.7-million or a penny per share compared to net loss of US$2.7-million or loss of a penny per share for the same period in 2017. Analysts were expecting sales of US$60.4-million and zero cents per share in the latest quarter.
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Superior Plus Corp. (SPB-T) reported revenue of $874.9-million in the first quarter, up from $675.7-million a year earlier. Net earnings were $47.3-million or 33 cents per share compared to net earnings of $53.2-million or 34 cents a year earlier. Analysts were expecting revenue of $811.5-million and earnings of 56 cents.
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Rocky Mountain Dealerships Inc. (RME-T) reported sales of $219.7-million in the first quarter, compared with $209.9-million for the same period in 2017, “due to a $26.4-million increase in new equipment sales year-over-year.” Its net loss was $420,000 or 2 cents per share versus net earnings of $881,000 or 5 cents per share a year ago, “attributable in large part to a negative variance associated with our derivative financial instruments.” The expectation was for earnings of 7 cents, based on one analyst estimate, and revenue of $222.7-million, based on four estimates.
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SunOpta Inc. (STKL-Q; SOY-T) reported revenue of US$312.7-million for the first quarter, compared to US$330-million in the first quarter of 2017. Its loss attributable to common shareholders was US$6.3-million or 7 cents per share in the first quarter compared to a loss attributable to common shareholders of US$13.3-million or 16 cents per share in the first quarter of 2017. Its adjusted loss was US$6.4-million or 7 cents per share during the first quarter, compared to an adjusted loss of US$900,000 or a penny per share a year earlier. Analysts were expecting revenue to be $312.7-million in the latest quarter and earnings of 5 cents.