Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news and on the move today.
Canaccord Genuity Group Inc. (CF-T) reported revenue of $317.4-million for its first quarter ended June 30, compared to $518.8-million in the same period in the prior year. The expectation was for revenue to come in at $409.3-million in the latest quarter, according to S&P Capital IQ.
Net income attributable to common shareholders “excluding significant items” was $11.9-million or 13 cents per share versus a profit of $81.3-miillion or 73 cents a year ago, the company stated.
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Chorus Aviation Inc. (CHR-T) reported second-quarter operating revenue of $392.3-million, up from $199.9-million a year ago. The expectation was for revenue to come in at $394.2-mllion in the latest quarter, according to S&P Capital IQ.
Its net loss was $46.3-million or 24 cents per share versus a profit of $21.5-million in the year-ago quarter.
The company said the net loss was primarily due to “anticipated aircraft repossessions and lease restructurings resulting in provisions of $45.6-million” as well as unrealized foreign exchange losses and strategic advisory fees.
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Interfor Corp. (IFP-T) reported second-quarter sales of $1.39-billion up from $1.1-billion in the year-ago period. The expectation was for sales to come in at $1.2-billion, according to S&P Capital IQ.
Net earnings of $269.9-million or $4.92 per share compared to $419.2-million or $6.45 per share a year ago. The expectation was for earnings of $4.57 in the latest quarter.
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Resolute Forest Products Inc. (RFP-N; RFP-T) reported second-quarter sales came in at US$1.06-billion, which it said was a decrease of US$82-million from the year-ago period.
Net income of US$256-million or US$3.29 per share compared to net income of US$268-million or US$3.34 per share in the same period in 2021.
Excluding special items, the company reported net income of US$155-million, or US$2 per share compared to net income of US$300-million or US$3.74 per share a year ago. The expectation was for earnings of US$1.72 per share, according to S&P Capital IQ.
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Profound Medical Corp. (PROF-Q; PRN-T) reported revenue of $2-million for its second quarter, down from $2.6-million a year ago. The result was below expectations of $2.6-million for the latest quarter, according to S&P Capital IQ.
Its net loss attributed to shareholders was $5.9-million or 28 cents per share versus a loss of $7-milion or 35 cents a year ago.
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Thinkific Labs Inc. (THNC-T) reported second-quarter revenue increased 38 per cent to US$12.6-million compared with the second quarter of 2021. The expectation was for revenue to come in at US$12.5-million, according to S&P Capital IQ.
Its net loss for the second quarter was US$10.1-million, or 13 cents US per share compared to a net loss of US$5.3-million or 11 cents US in the second quarter of 2021. The expectation was for a loss of 11 cents US in the latest quarter.
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Black Diamond Group Limited (BDI-T) reported second-quarter revenue of $69.4 million, up from $68.9-million in the year-ago period. Profit of $4-million or 6 cents per share compared to a profit of $1.3-million or 2 cents last year.
The results were in line with expectations for revenue to come in at $68.9-million and earnings of 6 cents per share.
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IBI Group Inc. (IBG-T), which recently announced that it’s being taken over by Amsterdam-based design and consultancy firm Arcadis, reported second-quarter revenue grew 12 per cent to $126.3-million compared to the same period in 2021. The expectation was for revenue to come in at $119.7-million.
Net income totaled $9.2 million or 24 cents per share compared to net income of $8.3-million or 22 cents a year ago. The expectation was for EPS of 21 cents in the latest quarter.
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Kingsway Financial Services Inc. (KFS-N) reported a net loss of $2.4-million for the second quarter ended June 30, versus a net loss of $300,000 in the year-ago period. Adjusted income was $2.1-million compared $1-million a year ago.
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Wajax Corp. (WJX-T) reported second quarter revenue of $511.2-million, up from $446.1 million in the second quarter of 2021. The results were ahead of expectations of $460-million.
Net earnings of $21.7-milion or $1.01 per share compared to net earnings of $18.1-million or 85 cents per share a year earlier.
Adjusted earnings came in at $19.7-million or 92 cents per share compared to $16.6-million or 77 cents a year ago. The expectation was for adjusted EPS of 76 cents.
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Jamieson Wellness Inc. (JWEL-T) increased its dividend and raised its financial guidance for the year.
The company reported that second-quarter revenue increased to $112-million compared with $110.6-million in the second quarter of 2021. The expectation was for revenue to come in at $114.6-million, according to S&P Capital IQ.
Net earnings came in at $10.1-million or 24 cents per share compared with $11.5 million or 28 cents per share in the second quarter of 2021. Adjusted net earnings came in at $13.4-million or 32 cents per share versus $12-million or 29 cents a year ago. The expectation was for adjusted EPS of 29 cents.
The company also increased its quarterly dividend by 13.3 per cent to 17 cents per share and increased its outlook for fiscal 2022, which it said reflects the acquisition of Nutrawise completed last year.
The company said it expects annual revenue in the range of $550-million to $565-million, which represents annual growth of 5 per cent to 9 per cent in the base business plus revenue growth of approximately 16 per cent from the acquisition. The expectation is for revenue to come in at $560.4-million for fiscal 2022, according to S&P Capital IQ.
Adjusted earnings per share are expected to be in the range of $1.52 to $1.60, the company said. The expectation is for EPS of $1.57 for fiscal 2022.
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TWC Enterprises (TWC-T) reported operating revenue of $52.7-million, up from $34.1-million a year ago. Net earnings of $3.6-million or 15 cents per share compared to $4.5-million or 18 cents a year ago.
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Yellow Pages Ltd. (Y-T) reported second-quarter revenues came in at $69.6-million, down from $74.6-million a year ago. The expectation was for revenue to come in at $74-million in the latest quarter.
Net earnings came in at $12.7-million or 49 cents per share versus net earnings of $6-million or 22 cents a year ago.
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Canopy Growth Corp. (WEED-T) saw a net loss of more than $2-billion in its most recent quarter, which it attributed to a $1.72-billion writedown.
The Smiths Falls, Ont., cannabis company says the net loss in its first quarter compared to net earnings of more than $389-million at the same time last year.
The net loss for the period ended June 30 amounted to a loss of $5.23 per diluted share compared to a loss of 84 cents per share in the second quarter of 2021.
Analysts expected the company to report a net loss of US$111.6-million or 28 cents per share, according to financial data firm Refinitiv.
The impairment charge was linked to its pot operations and came as its recreational business-to-business cannabis sales fell 38 per cent since last year because of price compression and increased competition.
Net revenue for the period amounted to $110.1-million, down 19 per cent from $136.2-million in the same quarter last year.
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Héroux-Devtek Inc. (HRX-T) reported sales decreased to $114.1-million for its first quarter ended June 30 compared to $126.2-million in the same quarter a year ago. The expectation was for sales to come in at $133.4-million in the latest quarter.
Net income of $965,000 or 3 cents per share compared to net income of $6.7-million or 19 cents a year ago.
“We are disappointed with our first quarter results,” stated CEO Martin Brassard. “We are operating in a challenging environment as the pandemic and other global factors continue to cause absenteeism and disruptions in our facilities and supply chain, impacting our ability to deliver product steadily.”
He said the company’s order book remains strong “and will allow us to increase our sales in the quarters to come.”
The company announced separately that it had been awarded a long-term contract for the repair and overhaul of the main landing gear and side braces for the F/A-18 E/F Super Hornets and EA-18G Growlers in support of the overhaul contract awarded to Boeing by the U.S. Navy in 2021.
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Uni-Select Inc. (UNS-T) reported second-quarter sales of $444.3-million, up from $416.4-million a year ago. The expectation was for sales of 442.4-million.
Net earnings of $22.8-million or 46 cents per share compared to a loss of $20.3-millionor 48 cents a year ago. Adjusted net earnings came in at $25.6-million or 51 cents per share.
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With a file from The Canadian Press
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