Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Net earnings of $13.8-million or 49 cents per share compared to $27.1 million or 89 cents per share during the third quarter of 2018.
Analysts were expecting revenue of $98.4-million and earnings of 43 cents.
Home Capital Group Inc. (HCG-T) reported net income of $39-million or 67 cents per share, compared with $32.6-million or 41 cents per share the same period a year ago. Adjusted earnings came in at 72 cents per share up from 41 cents a year ago. Analysts were expecting adjusted earnings of 58 cents per share
Loans under administration of $23-billion, was up 0.7 per cent from a year ago, mortgage originations of $1.6-billion compared to $1.4-billion a year ago. Total provision for credit losses of $3.7-million compared with $4-million last year.
Its net loss of US$1-million or 2 US cents per share compared to US$37-million or 59 US cents a year ago. Adjusted net earnings of US$15-million or 24 US cents per share versus US$36.2-million or 58 US cents per share.
Park Lawn Corp. (PLC-T) reported third-quarter revenue of $66.6-million up from $43.2-million a year ago. Net earnings came in at $1.6-mllion or 5.3 cents per share versus $3.3-million or 14.1 cents a year ago.
Adjusted earnings were $6.6-million or 22.1 cents per share versus $4.6-million or 19.7 cents a year earlier.
Analysts were expecting revenue of $68.3-million and adjusted earnings of 23 cents.
Its net loss was $3-million or 2 cents per share compared to a net income of $12.9-million or 9 cents in the prior-year period.
Analysts were expecting revenue of $3.3-million and earnings of 2 cents per share.
Net income was $46.7-million or 56 cents per share versus net income of $36.4-million or 42 cents a year ago.
Analysts were expecting revenue of $878.2-million and earnings of 52 cents.
CEO Pat D’Eramo also said the company expects new program delays and slower ramp-ups than originally planned.
"Most of the delays are 6-9 months, moving out projected sales originally planned for 2020 to 2021," he said in a release, adding the delayed programs include the Jeep Grand Cherokee, Nissan Rogue and Pathfinder, and Ford’s new product in its Hermosillo assembly plant."
The programs represent annual business of more than $400-million. "It appears to us, and to industry estimates, that overall volumes for 2020 will be flat or down in China, in Europe and somewhat in North America," Mr. D'Ermao added.
"As a result of the program delays and slower ramp ups, and the overall market volume outlook, we are pushing out our $4 billion sales target to 2021; and while operating margins are anticipated to improve in 2020 from 2019 and exceed 8%, we are moving our 9% target to 2021 also to be prudent.”
The company reported a net loss of $0.7-million compared to a net profit $1.5-million a year ago.
Turquoise Hill Resources Ltd. (TRQ-T) reported third-quarter revenue of $209.2-million down from $246.5-million a year ago, “reflecting the transition from mining Phase 4A to lower grade Phase 4B and stockpiles.” Analysts were expecting revenue of $213.2-million.
Income for the period was $45.1-million compared with income of $15.2-million a year ago. Income attributable to owners of Turquoise Hill was $71.7-million or 4 cents per share, compared with income of $53.2-million or 3 cents per share a year earlier.