Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
NFI Group Inc. (NFI-T) reported third-quarter revenue of US$514-million up from US$492-million a year ago. The expectation was for revenue of US505.4-million.
Its net loss was US$42.6-million or 56 US cents per share compared to US$15.4-million or 22 US cents a year ago. The adjusted loss was 63 US cents per share versus 16 US cents a year ago. The expectation was for an adjusted EPS loss of 56 US cents, according to S&P Capital IQ.
The company also reaffirmed its financial guidance expectations updated on Oct. 24.
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Stelco Holdings Inc. (STLC-T) reported a special dividend, a 40-per-cent increase to its regular dividend and third-quarter results that beat expectations.
The steelmaker said revenue came in at $846-million for the quarter, down 38 per cent from a year ago. The expectation was for revenue of $793-million, according to S&P Capital IQ.
Stelco said the decline was primarily due to a drop in selling prices and volume versus a year ago.
Net income of $158-million or $2.33 per share compared to net income of $614-million or $7.42 a year ago.
Adjusted net income of $163-million or $2.40 per share compared to $7.60 a year ago. The expectation was for adjusted EPS of $2.01.
The company also declared a special dividend of $3 per share and said its quarterly dividend will rise to 42 cents per share payable on Dec. 1.
“Our balance sheet remains strong, with a significant cash balance that, even after recent buybacks, remains in excess of $1 billion, and our business is well positioned to continue to make the necessary investments to ensure our long-term viability. We will continue to explore opportunities to strengthen our business and ensure that our shareholders benefit from our success,” stated CFO Paul Scherzer
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Alvopetro Energy Ltd. (ALV-X) announced a 50-per-cent increase in its quarterly dividend to 12 US cents per common share, an intention to launch a share buyback program and record third-quarter results.
The company said funds flow from operations came in at a record US$13.3-million, up from US$7.9-million a year ago.
Net income of US$8.8-million or 24 US cents per share in the third quarter compared to a loss of US$0.02-million or nil a year ago. The expectation was for earnings of 18 US cents per share, according to S&P Capital IQ.
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Goeasy Ltd. (GSY-T) announced a $50-million bought-deal offering. The company said it has an agreement with a syndicate of underwriters that has agreed to buy 425,000 common shares for $118.50 each.
Goeasy said it intends to use the net proceeds to support the growth of its consumer loan portfolio and for general corporate purposes.