Ankündigung • Dec 16
LOGISTEC Appoints Nathalie Viens as the New President of Its Water and Environment Division LOGISTEC announced the appointment of Nathalie Viens as President of its Water and Environment Division. Nathalie brings with her a wealth of experience in leading global operations in a variety of industries, including investment, asset management, consulting, engineering and construction, infrastructure and resources. She is recognized for her expertise in transforming and executing corporate strategies that significantly improve operational efficiency. Nathalie Viens is known for her result-driven leadership style, her passion for inspiring teams and her ability to drive transformation. Throughout her career, she has demonstrated strong profit and loss management, overseeing companies and portfolios comprising multi-site and diversified operations such as service sites, operating plants and multi-year PPP commitments. Prior to joining ALTRA | SANEXEN, Nathalie was Managing Director and Head of Private Infrastructure Asset Management at CBRE Investment Management. As operating partner at the Caisse de dépôt et placement du Québec(CDPQ), she was responsible for developing asset management strategies and supporting operational improvements across a global portfolio. Her previous roles also include senior management positions at Veolia Canada, AtkinsRéalis and Accenture. Over the past 5 years, as part of her role in the investment industry, Nathalie has sat on various boards such as WanRack (FTTH company), Forum Mobility (Heavy Vehicle Charging Infrastructure) and Connect Bus (Bus Transport Company), Energir, Transportadora Associada de Gás S. A. (natural gas transmission), Student Transportation of America (school bus services), Plenary Americas (PPP), FiBrasil (neutral fiber assets) and Transmissoras Unidas de Energia (electrical transmission). Nathalie holds an engineering degree and a master's degree (M.Sc. A) in chemical engineering, and is a member of the Ordre des Ingénieurs du Québec. She is also a certified director (C.Dir) and PMP certified. Ankündigung • Aug 14
Logistec Corporation Appoints Patrick Burgoyne as Chief Strategy Officer to Drive the Company's Strategic Growth Plan Logistec Corporation announced the appointment of Patrick Burgoyne as Chief Strategy Officer. Mr. Burgoyne brings his global perspective and in-depth logistics knowledge to LOGISTEC and will further accelerate the company's growth of marine services throughout North America and internationally. Patrick has led top international companies, giving him unique insight into the competitive landscape. With over 25 years of experience in the marine industry, Mr. Burgoyne will articulate strategies and ensure alignment across the organization, actively building upon LOGISTEC's technology-driven focus to deliver new value to their customers. Ankündigung • May 10
LOGISTEC Corporation Announces the Appointment of Susan Bray to the Board of Directors LOGISTEC Corporation announced the appointment of Susan Bray to the Board of Directors, effective immediately. An executive director and management board member, Ms. Bray will bring her strategic mindset and in-depth logistics knowledge and international supply chain expertise to the Board, which oversees LOGISTEC's marine and environmental services offered throughout North America. Throughout her career in the steel industry, Ms. Bray held leadership positions at U.S. Steel Texas Works, Thyssen Steel Group, MAN Ferrostaal and ArcelorMittal. In 2023, Ms. Bray started Braybridge Logistics Consultants, LLC to further service heavy industries in need of broad-based, strategic, logistics expertise. Based in Houston, Texas, Ms. Bray currently sits on the Advisory Board of the Great Lakes Pilotage Association. She has served on the boards of various steel, logistics and trade related committees and maintains active membership in several organizations. She is a sought-after speaker at trade, labor, logistics and steel related seminars and conferences. Ankündigung • Jan 11
Logistec Corporation CL A & Class B Subordinate Voting Shares to Be Deleted from OTC Equity Logistec Corporation CL A & Class B Subordinate Voting Shares (Canada) will be deleted from OTC Equity effective January 11, 2024, due to Acquisition /Merger /Amalgamation. Ankündigung • Jan 10
Stonepeak Partners LP along with certain funds managed by Blue Wolf Capital Partners LLC completed the acquisition of Logistec Corporation (TSX:LGT.B) from Sumanic Investments Inc. and others. Stonepeak Partners LP along with certain funds managed by Blue Wolf Capital Partners LLC entered into an arrangement agreement to acquire Logistec Corporation (TSX:LGT.B) from Sumanic Investments Inc. and others for approximately CAD 870 million on October 15, 2023. certain funds managed by Blue Wolf Capital Partners LLC and Stonepeak Partners LP will acquire Logistec Corporation for CAD 67 per share in cash. Purchaser have received an equity commitment letter and debt commitment letter for the financing of acquisition. The consideration offered under the transaction represents a 61.2% premium to the unaffected 20-day volume-weighted average trading price per Class A Common Share and a 62.2% premium to the unaffected 20-day volume-weighted average trading price per Class B Subordinate Voting Share on the Toronto Stock Exchange on May 19, 2023, the last trading day prior to the announcement of the strategic review process, and a 14.5% premium to the 20-day volume weighted average trading price per Class A Common Share and a 9.9% premium to the 20-day volume-weighted average trading price per Class B Subordinate Voting Share on the Toronto Stock Exchange on October 13, 2023. Following completion of the transaction, the Corporation will become a privately held company and will apply to cease to be a reporting issuer under Canadian securities laws and the Class A Common Shares and Class B Subordinate Voting Shares will no longer be publicly traded on the Toronto Stock Exchange. Blue Wolf is funding its portion of the purchase price with capital it manages on behalf of its limited partners via private equity fund capital as well as select co-investors, together with an additional preferred investment in the Purchaser by Stonepeak. A termination fee of CAD 32 million would be payable by the Corporation to the Purchaser in certain circumstances, including in the context of a superior proposal supported by the Corporation. The Corporation would also be entitled to a reverse termination fee of CAD 59 million if the transaction is not completed in certain circumstances.LOGISTEC's Board of Directors has evaluated the Arrangement Agreement with the Corporation's management and legal and financial advisors, and following the receipt and review of the unanimous recommendation of the Special Committee, the Board of Directors has unanimously determined that the transaction is in the best interests of LOGISTEC and is fair to its shareholders, and unanimously recommends that LOGISTEC's shareholders approve the transaction. As of December 18, 2023, LOGISTEC's shareholders have approved the previously announced plan of arrangement. The transaction will be implemented by way of a plan of arrangement under the Business Corporations Act (Québec) and is expected to close in the first quarter of 2024, subject to customary closing conditions, including the receipt of regulatory approvals and clearances in Canada and the United States, LOGISTEC shareholder approval and Court approval. The transaction is not subject to any financing condition. As of December 22, 2023, Superior Court of Québec has issued a final order and approved the transaction. The transaction is expected to close during the week of January 8, 2024. TD Securities Inc. is acting as exclusive financial advisor to the Corporation and Blair Franklin Capital Partners Inc. is acting as independent financial advisor to the Special Committee. Rothschild & Co is acting as exclusive financial advisor to Blue Wolf. William J. Braithwaite and David Massé of Stikeman Elliott LLP acting as independent legal advisors to the Special Committee and Jean Michel Lapierre and Caitlin Rose of Fasken Martineau DuMoulin LLP and K&L Gates LLP as legal advisors to the Corporation. Robin Mahood of McCarthy Tétrault LLP and Laura Delanoy of Willkie Farr & Gallagher LLP are acting as legal advisors to Blue Wolf. Davies Ward Phillips & Vineberg LLP is acting as legal advisor to Sumanic Investments Inc. Blair Franklin Capital Partners acted as fairness opinion to the board of Logistec Corporation.Stonepeak Partners LP along with certain funds managed by Blue Wolf Capital Partners LLC completed the acquisition of Logistec Corporation (TSX:LGT.B) from Sumanic Investments Inc. and others on January 8, 2024. Sean Pierce has been named chief executive officer of Logistec. In connection with the acquisition, a new board of Logistec also has been constituted, with representatives from Blue Wolf and Stonepeak joined by Jean-Jacques Ruest and Michael Moore. Following this transaction, Logistec's headquarters will remain in Montreal. Upcoming Dividend • Dec 26
Upcoming dividend of CA$0.13 per share at 0.8% yield Eligible shareholders must have bought the stock before 02 January 2024. Payment date: 17 January 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Canadian dividend payers (6.5%). Lower than average of industry peers (3.3%). Ankündigung • Dec 07
Logistec Corporation Declares Quarterly Dividends, Payable on January 17, 2024 The Board of Directors of LOGISTEC Corporation announced that it has declared quarterly dividends of $0.11782 per share on all outstanding Class A Common Shares and $0.12959 per share on all outstanding Class B Subordinate Voting Shares. The dividends will be paid on January 17, 2024 to all LOGISTEC Corporation shareholders of record at the close of business on January 3, 2024. This dividend is an eligible dividend for Canada Revenue Agency purposes. Ankündigung • Oct 18
Stonepeak Partners LP along with certain funds managed by Blue Wolf Capital Partners LLC entered into an arrangement agreement to acquire Logistec Corporation (TSX:LGT.B) from Sumanic Investments Inc. and others for approximately CAD 860 million. Stonepeak Partners LP along with certain funds managed by Blue Wolf Capital Partners LLC entered into an arrangement agreement to acquire Logistec Corporation (TSX:LGT.B) from Sumanic Investments Inc. and others for approximately CAD 860 million on October 16, 2023. certain funds managed by Blue Wolf Capital Partners LLC and Stonepeak Partners LP will acquire Logistec Corporation for CAD 67 per share in cash. The consideration offered under the transaction represents a 61.2% premium to the unaffected 20-day volume-weighted average trading price per Class A Common Share and a 62.2% premium to the unaffected 20-day volume-weighted average trading price per Class B Subordinate Voting Share on the Toronto Stock Exchange on May 19, 2023, the last trading day prior to the announcement of the strategic review process, and a 14.5% premium to the 20-day volume weighted average trading price per Class A Common Share and a 9.9% premium to the 20-day volume-weighted average trading price per Class B Subordinate Voting Share on the Toronto Stock Exchange on October 13, 2023. Following completion of the transaction, the Corporation will become a privately held company and will apply to cease to be a reporting issuer under Canadian securities laws and the Class A Common Shares and Class B Subordinate Voting Shares will no longer be publicly traded on the Toronto Stock Exchange. Blue Wolf is funding its portion of the purchase price with capital it manages on behalf of its limited partners via private equity fund capital as well as select co-investors, together with an additional preferred investment in the Purchaser by Stonepeak. A termination fee of CAD 32 million would be payable by the Corporation to the Purchaser in certain circumstances, including in the context of a superior proposal supported by the Corporation. The Corporation would also be entitled to a reverse termination fee of CAD 59 million if the transaction is not completed in certain circumstances.
LOGISTEC's Board of Directors has evaluated the Arrangement Agreement with the Corporation's management and legal and financial advisors, and following the receipt and review of the unanimous recommendation of the Special Committee, the Board of Directors has unanimously determined that the transaction is in the best interests of LOGISTEC and is fair to its shareholders, and unanimously recommends that LOGISTEC's shareholders approve the transaction. The transaction will be implemented by way of a plan of arrangement under the Business Corporations Act (Québec) and is expected to close in the first quarter of 2024, subject to
customary closing conditions, including the receipt of regulatory approvals and clearances in Canada and the United States, LOGISTEC shareholder approval and Court approval. The transaction is not subject to any financing condition.
TD Securities Inc. is acting as exclusive financial advisor to the Corporation and Blair Franklin Capital Partners Inc. is acting as independent financial advisor to the Special Committee. Rothschild & Co is acting as exclusive financial advisor to Blue Wolf. Stikeman Elliott LLP is acting as independent legal advisor to the Special Committee and Fasken Martineau DuMoulin LLP and K&L Gates LLP as legal advisors to the Corporation. McCarthy Tétrault LLP and Willkie Farr & Gallagher LLP are acting as legal advisors to Blue Wolf. Davies Ward Phillips & Vineberg LLP is acting as legal advisor to Sumanic Investments Inc. Blair Franklin
Capital Partners acted as fairness opinion to the board of Logistec Corporation. Upcoming Dividend • Sep 14
Upcoming dividend of CA$0.13 per share at 0.8% yield Eligible shareholders must have bought the stock before 21 September 2023. Payment date: 06 October 2023. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Canadian dividend payers (6.3%). Lower than average of industry peers (3.6%). New Risk • Aug 03
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 02
Second quarter 2023 earnings released: EPS: CA$0.25 (vs CA$1.01 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.25 (down from CA$1.01 in 2Q 2022). Revenue: CA$245.0m (up 12% from 2Q 2022). Net income: CA$3.22m (down 75% from 2Q 2022). Profit margin: 1.3% (down from 5.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Aug 02
Logistec Corporation Declares Quarterly Dividends, Payable on October 6, 2023 The Board of Directors of LOGISTEC Corporation has declared quarterly dividends of $0.11782 per share on all outstanding Class A Common Shares and $0.12959 per share on all outstanding Class B Subordinate Voting Shares. The dividends will be paid on October 6, 2023 to all LOGISTEC Corporation shareholders of record at the close of business on September 22, 2023. This dividend is an eligible dividend for Canada Revenue Agency purposes. Upcoming Dividend • Jun 14
Upcoming dividend of CA$0.13 per share at 0.8% yield Eligible shareholders must have bought the stock before 21 June 2023. Payment date: 07 July 2023. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Canadian dividend payers (6.3%). Lower than average of industry peers (3.4%). Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to CA$55.75, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 11x in the Infrastructure industry in North America. Total returns to shareholders of 88% over the past three years. Ankündigung • May 22
Logistec Principal Shareholder Expresses Interest in Shedding Stake Logistec Corporation (TSX:LGT.B) on May 19, 2023 said its principal shareholder, Sumanic Investments Inc., informed the board of its interest in considering a partial or whole sale of its stake in the company. The cargo-handling company said Sumanic also informed the board of its desire for the company to initiate a process to pursue a strategic transaction in the interest of shareholders in order to maximize shareholder value. The board has formed a special committee of independent directors to consider the request to review strategic alternatives, including a potential sale, and make recommendations to the board, Logistec said. Sumanic controls about 78% of the company's voting rights, according to Logistec's website. Reported Earnings • May 05
First quarter 2023 earnings released: CA$0.71 loss per share (vs CA$0.46 loss in 1Q 2022) First quarter 2023 results: CA$0.71 loss per share (further deteriorated from CA$0.46 loss in 1Q 2022). Revenue: CA$158.9m (up 12% from 1Q 2022). Net loss: CA$9.05m (loss widened 50% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Ankündigung • May 04
Logistec Corporation Declares Quarterly Dividends on Shares, Payable on July 7, 2023 The Board of Directors of LOGISTEC Corporation announced that it has declared quarterly dividends of $0.11782 per share on all outstanding Class A Common Shares and $0.12959 per share on all outstanding Class B Subordinate Voting Shares. The dividends will be paid on July 7, 2023 to all LOGISTEC Corporation shareholders of record at the close of business on June 22, 2023. This dividend is an eligible dividend for Canada Revenue Agency purposes. Reported Earnings • Mar 24
Full year 2022 earnings released Full year 2022 results: Revenue: CA$897.6m (up 21% from FY 2021). Net income: CA$53.5m (up 18% from FY 2021). Profit margin: 6.0% (down from 6.1% in FY 2021). The decrease in margin was driven by higher expenses. Upcoming Dividend • Dec 23
Upcoming dividend of CA$0.13 per share Eligible shareholders must have bought the stock before 30 December 2022. Payment date: 17 January 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Canadian dividend payers (6.0%). Lower than average of industry peers (3.9%). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Mike Dodson was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: CA$284.2m (up 20% from 3Q 2021). Net income: CA$31.6m (up 18% from 3Q 2021). Profit margin: 11% (in line with 3Q 2021). Upcoming Dividend • Sep 15
Upcoming dividend of CA$0.13 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 07 October 2022. Payout ratio is a comfortable 12% but the company is paying out more than the cash it is generating. Trailing yield: 1.4%. Lower than top quartile of Canadian dividend payers (5.6%). Lower than average of industry peers (3.8%). Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: CA$1.00 (vs CA$0.79 in 2Q 2021) Second quarter 2022 results: EPS: CA$1.00 (up from CA$0.79 in 2Q 2021). Revenue: CA$219.0m (up 27% from 2Q 2021). Net income: CA$13.0m (up 27% from 2Q 2021). Profit margin: 5.9% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 15
Upcoming dividend of CA$0.11 per share Eligible shareholders must have bought the stock before 22 June 2022. Payment date: 08 July 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Canadian dividend payers (5.1%). Lower than average of industry peers (3.6%). Board Change • May 11
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Mike Dodson was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 06
First quarter 2022 earnings released: CA$1.06 loss per share (vs CA$0.44 loss in 1Q 2021) First quarter 2022 results: CA$1.06 loss per share (down from CA$0.44 loss in 1Q 2021). Revenue: CA$141.4m (up 35% from 1Q 2021). Net loss: CA$6.02m (loss widened 5.1% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Mar 19
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: CA$3.47 (up from CA$2.53 in FY 2020). Revenue: CA$743.7m (up 23% from FY 2020). Net income: CA$45.4m (up 39% from FY 2020). Profit margin: 6.1% (up from 5.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 9.4%. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Dec 24
Upcoming dividend of CA$0.11 per share Eligible shareholders must have bought the stock before 31 December 2021. Payment date: 18 January 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Canadian dividend payers (4.7%). Lower than average of industry peers (3.1%). Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS CA$2.05 (vs CA$1.58 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: CA$236.2m (up 23% from 3Q 2020). Net income: CA$26.7m (up 31% from 3Q 2020). Profit margin: 11% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 16
Upcoming dividend of CA$0.11 per share Eligible shareholders must have bought the stock before 23 September 2021. Payment date: 08 October 2021. Trailing yield: 1.0%. Lower than top quartile of Canadian dividend payers (4.5%). Lower than average of industry peers (2.8%). Recent Insider Transactions • Sep 02
Insider recently sold CA$125k worth of stock On the 30th of August, Benoit Côté sold around 3k shares on-market at roughly CA$44.50 per share. In the last 3 months, they made an even bigger sale worth CA$220k. Insiders have been net sellers, collectively disposing of CA$285k more than they bought in the last 12 months. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS CA$0.79 (vs CA$0.36 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$172.6m (up 40% from 2Q 2020). Net income: CA$10.2m (up 123% from 2Q 2020). Profit margin: 5.9% (up from 3.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jun 23
Insider recently sold CA$220k worth of stock On the 16th of June, Benoit Côté sold around 5k shares on-market at roughly CA$44.00 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Recent Insider Transactions Derivative • Jun 13
President exercised options to buy CA$1.8m worth of stock. On the 8th of June, Madeleine Paquin exercised options to buy 39k shares at a strike price of around CA$36.92, costing a total of CA$1.4m. This transaction amounted to 18% of their direct individual holding at the time of the trade. Since June 2020, Madeleine has owned 220.40k shares directly. This was the only transaction from an insider over the last 12 months. Upcoming Dividend • Jun 11
Upcoming dividend of CA$0.10 per share Eligible shareholders must have bought the stock before 18 June 2021. Payment date: 05 July 2021. Trailing yield: 0.9%. Lower than top quartile of Canadian dividend payers (4.5%). Lower than average of industry peers (2.6%). Executive Departure • May 08
Independent Director has left the company On the 4th of May, Serge Dubreuil's tenure in the role of Independent Director ended. We don't have any record of a personal shareholding under Serge's name. A total of 2 executives have left over the last 12 months. Executive Departure • May 08
Independent Chairman James Cherry has left the company On the 4th of May, James Cherry's tenure as Independent Chairman ended after 2.0 years in the role. We don't have any record of a personal shareholding under James' name. A total of 2 executives have left over the last 12 months. Upcoming Dividend • Mar 24
Upcoming dividend of CA$0.10 per share Eligible shareholders must have bought the stock before 31 March 2021. Payment date: 15 April 2021. Trailing yield: 1.0%. Lower than top quartile of Canadian dividend payers (4.9%). Lower than average of industry peers (2.9%). Reported Earnings • Mar 19
Full year 2020 earnings released: EPS CA$2.53 (vs CA$2.05 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CA$604.7m (down 5.5% from FY 2019). Net income: CA$32.6m (up 25% from FY 2019). Profit margin: 5.4% (up from 4.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 08
New 90-day high: CA$38.70 The company is up 16% from its price of CA$33.50 on 08 September 2020. The Canadian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Infrastructure industry, which is up 22% over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: CA$34.99 The company is up 4.0% from its price of CA$33.80 on 20 August 2020. The Canadian market is also up 4.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Infrastructure industry, which is up 9.0% over the same period. Reported Earnings • Nov 06
Third quarter 2020 earnings released: EPS CA$2.77 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: CA$191.8m (down 1.8% from 3Q 2019). Net income: CA$20.5m (up 18% from 3Q 2019). Profit margin: 11% (up from 8.9% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.