Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Equitable Group Inc. (EQB-T) reported record third-quarter earnings and increased its dividend. The company’s net income to common shareholders came in at $53.8-million or $3.18 per share versus $46.6-million or $2.80 a year ago.
Adjusted EPS was a third-quarter record of $3.17, the company said, up 19 per cent from $2.67 a year ago. Analysts were expecting adjusted EPS of $3.13 per share, according to S&P Capital IQ consensus.
The company also declared a dividend of 35 cents per common share — a 25-per-cent increase from a year ago — payable on Dec. 31 to common shareholders of record on Dec. 31. The company said the increase is "in keeping with the commitment the board made to growing Equitable's dividend at a rate of between 20% to 25% for each of the next five years."
Morneau Shepell Inc. (MSI-T) reported third-quarter revenue of $224-million in revenue, an increase of 22.5 per cent or $41.2-million from the same period last year. Analysts were expecting revenue of $219.6-million.
The company said the increase was primarily due to Mercer and LifeWorks acquisition-related revenue "and significant growth in our pension and benefits administrative solutions business."
Profit was $1.3-million or 2 cents per share for the quarter, compared to a loss of $9.6-million or 15 cents a year ago.
Alaris Royalty Corp. (AD-T) reported revenue of $30-million in the third quarter, which it said was the largest quarter in the corporation’s history and an increase of 32.3 per cent on a per-share basis compared to the prior-year period, or 82 cents versus 62 cents.
Adjusted EBITDA was $25.9-million, an increase of 29 per cent versus a year ago. Earnings came in at 57 cents per share versus 52 cents a year earlier and ahead of expectations of 44 cents, according to S&P Capital IQ consensus.
Its net loss was $20.2-million, or 56 cents per share, compared $1-million, or 3 cents per share, in the third quarter of 2018. Analysts were expecting a loss of 20 cents per share, according to S&P Capital IQ consensus.
Pollard Banknote Limited (PBL-T) reported third-quarter sales of $103.2-million up from $94.5-million a year earlier, which the company said was a record. It was ahead of expectations of $101-million, according to S&P Capital IQ consensus.
Net income of $4.4-million or 17 cents per share compared to net income of $7.2-milion or 28 cents last year. Analysts were expecting earnings of 22 cents.
Adjusted EBITDA was $16.1-million versus $14.2-million a year ago.
Net profit was $25.8-million or 73 cents per share compared to $25.7-million or 69 cents per share in the prior year comparative quarter. Analysts were expecting EPS to come in at 75 cents per share and revenue of $190.8-million.
Badger updated its 2019 financial outlook to $155-million to $170-million of adjusted EBITDA from the previously provided financial outlook of $170-million to $190-million. The hydrovac build rate for 2019 of between 190 to 220 units with retirements of 40 to 60 units is unchanged, the company stated.
Bird Construction Inc. (BDT-T) recorded third-quarter net income of $6.8-million or 16 cents per share on construction revenue of $378.6-million. That compared with net income of $4.4-million or 10 cents per share on $381.4 million of construction revenue in for the same quarter in 2018. “Volume was slightly lower year-over-year, however net income improved across all sectors in which the company operates, through improved gross profit percentage,” the company stated.
Analysts were expecting EPS of 14 cents and revenue of $430.1-million, according to S&P Capital IQ.
Adjusted EBITDA in the third quarter of 2019 was $14- million compared to $9-million in the comparable period in 2018.
DHX Media, which recently changed its name to WildBrain, (DHX-T) reported revenue of $112.3-million for its first-quarter ended Sept. 30 versus $104-million a year ago. Analysts were expecting revenue of $106.1-million.
Its net loss was $16-million or 12 cents per share versus a net loss of $2.4-million or 2 cents a year ago. "The higher loss was affected by one-time reorganization charges incurred in the quarter and a higher non-cash foreign exchange loss," the company stated. Analysts were expecting a loss of 5 cents.
Adjusted EBITDA rose to $19.6-million versus $17.3-million in the same quarter last year.
ATS Automation Tooling Systems Inc. (ATA-T) said revenue grew 20 per cent to $341.2-million in the second quarter ended Sept. 29 versus a year ago and beat expectations of $317.5-million.
Net income was $19.3-million or 21 cents per share, which was in line with expectations and compared to $10.8-million or 11 cents a year ago.
Its net loss from continuing operations for the quarter was US$25-million or 4 cents US per share versus nil per share a year ago.
Its adjusted net loss from continuing operations for the quarter, which excludes other gains and losses, was US$10-million or 2 cents per share versus a loss of a penny per share a year ago.
Algoma Central Corp. (ALC-T) reported net earnings of $21-million or 55 cents per share versus $19.6-million or 51 cents a year ago. Revenue was $167.9-million compared to revenue of $158.7-million a year earlier.
The expectation was for revenue of $188.2-million and earnings of 68 cents, according to S&P Capital IQ based on one analyst estimate.
The company also said it increased its quarterly dividend by 10 per cent to 11 cents per common share payable on Dec. 2 to shareholders of record on Nov. 18.