Announcement • Jul 17
ADENTRA Inc. to Report Q2, 2026 Results on Aug 05, 2026 ADENTRA Inc. announced that they will report Q2, 2026 results After-Market on Aug 05, 2026 Upcoming Dividend • Jul 13
Upcoming dividend of CA$0.16 per share Eligible shareholders must have bought the stock before 20 July 2026. Payment date: 31 July 2026. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Canadian dividend payers (5.5%). Higher than average of industry peers (1.4%). Declared Dividend • May 31
First quarter dividend of CA$0.16 announced Shareholders will receive a dividend of CA$0.16. Ex-date: 20th July 2026 Payment date: 31st July 2026 Dividend yield will be 1.9%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 06
First quarter 2026 earnings released: EPS: US$0.08 (vs US$0.16 in 1Q 2025) First quarter 2026 results: EPS: US$0.08 (down from US$0.16 in 1Q 2025). Revenue: US$562.7m (up 3.7% from 1Q 2025). Net income: US$2.04m (down 50% from 1Q 2025). Profit margin: 0.4% (down from 0.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Apr 20
ADENTRA Inc. to Report Q1, 2026 Results on May 05, 2026 ADENTRA Inc. announced that they will report Q1, 2026 results After-Market on May 05, 2026 Upcoming Dividend • Apr 06
Upcoming dividend of CA$0.16 per share Eligible shareholders must have bought the stock before 13 April 2026. Payment date: 24 April 2026. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Canadian dividend payers (5.7%). In line with average of industry peers (2.1%). Declared Dividend • Mar 16
Fourth quarter dividend of CA$0.16 announced Shareholders will receive a dividend of CA$0.16. Ex-date: 13th April 2026 Payment date: 24th April 2026 Dividend yield will be 1.8%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 14
ADENTRA Inc. announces Quarterly dividend, payable on April 24, 2026 ADENTRA Inc. announced Quarterly dividend of CAD 0.1600 per share payable on April 24, 2026, ex-date on April 13, 2026 and record date on April 13, 2026. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: US$2.78 (vs US$1.95 in FY 2024) Full year 2025 results: EPS: US$2.78 (up from US$1.95 in FY 2024). Revenue: US$2.25b (up 3.0% from FY 2024). Net income: US$68.4m (up 47% from FY 2024). Profit margin: 3.0% (up from 2.1% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 24
Now 20% undervalued Over the last 90 days, the stock has risen 16% to CA$38.90. The fair value is estimated to be CA$48.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Earnings per share has declined by 47%. Announcement • Feb 24
ADENTRA Inc., Annual General Meeting, May 05, 2026 ADENTRA Inc., Annual General Meeting, May 05, 2026. Announcement • Feb 13
ADENTRA Inc. to Report Q4, 2025 Results on Mar 11, 2026 ADENTRA Inc. announced that they will report Q4, 2025 results After-Market on Mar 11, 2026 Upcoming Dividend • Jan 12
Upcoming dividend of CA$0.16 per share Eligible shareholders must have bought the stock before 19 January 2026. Payment date: 30 January 2026. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Canadian dividend payers (5.6%). Lower than average of industry peers (2.3%). Declared Dividend • Nov 13
Dividend of CA$0.16 announced Shareholders will receive a dividend of CA$0.16. Ex-date: 19th January 2026 Payment date: 30th January 2026 Dividend yield will be 1.8%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (5% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: US$0.42 (vs US$0.42 in 3Q 2024) Third quarter 2025 results: EPS: US$0.42. Revenue: US$592.1m (up 4.1% from 3Q 2024). Net income: US$10.1m (down 2.5% from 3Q 2024). Profit margin: 1.7% (in line with 3Q 2024). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Trade Distributors industry in Canada. Announcement • Nov 11
ADENTRA Inc. Increases Annual Dividend, Payable in January 2026 The Board of Directors of ADENTRA Inc. has increased annual dividend by 6.7% to CAD 0.64, beginning with the quarterly dividend to be paid in January 2026. Announcement • Oct 15
ADENTRA Inc. to Report Q3, 2025 Results on Nov 10, 2025 ADENTRA Inc. announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Nov 10, 2025 Upcoming Dividend • Oct 13
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 20 October 2025. Payment date: 31 October 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Canadian dividend payers (6.0%). Lower than average of industry peers (2.6%). New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings have declined by 3.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Earnings have declined by 3.6% per year over the past 5 years. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CA$34.62, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Trade Distributors industry in Canada. Total returns to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$47.99 per share. Declared Dividend • Aug 11
Dividend of CA$0.15 announced Shareholders will receive a dividend of CA$0.15. Ex-date: 20th October 2025 Payment date: 31st October 2025 Dividend yield will be 1.8%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 77% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: US$0.89 (vs US$0.74 in 2Q 2024) Second quarter 2025 results: EPS: US$0.89 (up from US$0.74 in 2Q 2024). Revenue: US$597.1m (up 8.7% from 2Q 2024). Net income: US$22.1m (up 30% from 2Q 2024). Profit margin: 3.7% (up from 3.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Aug 08
ADENTRA Inc. Declares Quarterly Dividend, Payable on October 31, 2025 ADENTRA Inc. declared quarterly dividend on August 6, 2025 of CAD 0.15 per share, to shareholders of record as at October 20, 2025, to be paid on October 31, 2025. New Risk • Aug 07
New major risk - Revenue and earnings growth Earnings have declined by 2.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Earnings have declined by 2.1% per year over the past 5 years. Announcement • Jul 15
ADENTRA Inc. to Report Q2, 2025 Results on Aug 06, 2025 ADENTRA Inc. announced that they will report Q2, 2025 results at 4:00 PM, Eastern Standard Time on Aug 06, 2025 Buy Or Sell Opportunity • Jul 13
Now 23% undervalued Over the last 90 days, the stock has risen 13% to CA$30.43. The fair value is estimated to be CA$39.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has declined by 54%. Revenue is forecast to grow by 1.1% in a year. Earnings are forecast to grow by 46% in the next year. Upcoming Dividend • Jul 07
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 14 July 2025. Payment date: 25 July 2025. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Canadian dividend payers (6.0%). Lower than average of industry peers (2.9%). Major Estimate Revision • May 14
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$2.24b to US$2.20b. EPS estimate also fell from US$2.77 per share to US$2.16 per share. Net income forecast to grow 46% next year vs 31% growth forecast for Trade Distributors industry in Canada. Consensus price target down from CA$43.05 to CA$39.25. Share price fell 3.2% to CA$25.93 over the past week. Declared Dividend • May 11
Dividend of CA$0.15 announced Shareholders will receive a dividend of CA$0.15. Ex-date: 14th July 2025 Payment date: 25th July 2025 Dividend yield will be 2.4%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • May 09
ADENTRA Inc. announces Quarterly dividend, payable on July 25, 2025 ADENTRA Inc. announced Quarterly dividend of CAD 0.1500 per share payable on July 25, 2025, ex-date on July 14, 2025 and record date on July 14, 2025. Reported Earnings • May 07
First quarter 2025 earnings released: EPS: US$0.16 (vs US$0.48 in 1Q 2024) First quarter 2025 results: EPS: US$0.16 (down from US$0.48 in 1Q 2024). Revenue: US$542.5m (up 1.4% from 1Q 2024). Net income: US$4.12m (down 61% from 1Q 2024). Profit margin: 0.8% (down from 2.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Apr 11
ADENTRA Inc. to Report Q1, 2025 Results on May 06, 2025 ADENTRA Inc. announced that they will report Q1, 2025 results After-Market on May 06, 2025 Recent Insider Transactions Derivative • Apr 07
Chief Operating Officer exercised options to buy CA$110k worth of stock. On the 31st of March, Drew Dickinson exercised options to buy 4k shares at a strike price of around CA$27.59, costing a total of CA$114k. Since December 2024, Drew's direct individual holding has increased from 78.57k shares to 82.69k. Company insiders have collectively sold CA$736k more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Mar 20
Fourth quarter dividend of CA$0.15 announced Shareholders will receive a dividend of CA$0.15. Ex-date: 14th April 2025 Payment date: 25th April 2025 Dividend yield will be 2.0%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 59% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 19
ADENTRA Inc. announces Quarterly dividend, payable on April 25, 2025 ADENTRA Inc. announced Quarterly dividend of CAD 0.1500 per share payable on April 25, 2025, ex-date on April 14, 2025 and record date on April 14, 2025. Buy Or Sell Opportunity • Mar 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to CA$28.64. The fair value is estimated to be CA$36.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 48%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 72% in the next 2 years. Announcement • Feb 25
ADENTRA Inc., Annual General Meeting, May 06, 2025 ADENTRA Inc., Annual General Meeting, May 06, 2025. Announcement • Feb 24
ADENTRA Inc. to Report Q4, 2024 Results on Mar 13, 2025 ADENTRA Inc. announced that they will report Q4, 2024 results After-Market on Mar 13, 2025 Upcoming Dividend • Jan 13
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 20 January 2025. Payment date: 31 January 2025. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Canadian dividend payers (6.5%). Lower than average of industry peers (2.6%). Announcement • Jan 09
ADENTRA Inc. Announces Management Changes ADENTRA Inc. announced significant leadership updates, including the retirement of founding director Graham Wilson, new board appointments, and the promotion of Drew Dickinson to Chief Operating Officer ("COO"). Retirement Of Graham Wilson: Graham Wilson, a founding member of ADENTRA's Board of Directors since the Company went public 20 years ago, will retire effective January 8, 2025. Rob Taylor, who has been a director of ADENTRA since 2019, will become Chair of the Board effective immediately. New Board Appointments: The Company welcomes Marie Robinson and Richard Roy to the Board of Directors. Marie Robinson brings over 30 years of logistics and global supply chain expertise, having held senior roles at Sysco Corporation, Capri Holdings, and Toys R Us. She holds a BA from the University of Alabama and an MA in Organizational Studies from Azusa Pacific University. Robinson also serves as a director for BJ's Wholesale Club Holdings Inc. Richard Roy is a seasoned business executive with over 35 years of experience in accounting, finance, and mergers and acquisitions. Mr. Roy is a Fellow Chartered Professional Accountant (FCPA). Formerly the President and CEO of Uni-Select Inc., Roy currently chairs the board of Toromont Industries Ltd. and serves on the Board of GDI Integrated Facility Services Inc. Promotion of Drew Dickinson to COO of ADENTRA: Drew Dickinson, with over 30 years of industry and leadership experience, has been promoted to Chief Operating Officer of ADENTRA. Previously, Mr. Dickinson served as COO of Rugby Architectural Building Products prior to its acquisition by ADENTRA, President of Rugby, and most recently as President of ADENTRA's U.S. Industrial business. In his new role, he will oversee operational strategy, growth initiatives, and operational excellence. Buy Or Sell Opportunity • Dec 06
Now 20% undervalued Over the last 90 days, the stock has risen 1.9% to CA$39.48. The fair value is estimated to be CA$49.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last 3 years. Earnings per share has declined by 40%. Declared Dividend • Nov 18
Third quarter dividend of CA$0.15 announced Shareholders will receive a dividend of CA$0.15. Ex-date: 20th January 2025 Payment date: 31st January 2025 Dividend yield will be 1.5%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Nov 15
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.7% to CA$38.77. The fair value is estimated to be CA$50.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last 3 years. Earnings per share has declined by 40%. Announcement • Nov 14
ADENTRA Inc. Increases Quarterly Dividend, Payable on January 31, 2025 ADENTRA Inc. increased the quarterly dividend to CAD 0.15 per share from CAD 0.14 per share, payable on January 31, 2025 to shareholders of record as of January 20, 2025. Announcement • Oct 25
ADENTRA Inc. to Report Q3, 2024 Results on Nov 13, 2024 ADENTRA Inc. announced that they will report Q3, 2024 results After-Market on Nov 13, 2024 Upcoming Dividend • Oct 08
Upcoming dividend of CA$0.14 per share Eligible shareholders must have bought the stock before 15 October 2024. Payment date: 25 October 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Canadian dividend payers (5.9%). Lower than average of industry peers (2.3%). Recent Insider Transactions • Sep 23
Insider recently sold CA$393k worth of stock On the 20th of September, Dan Figgins sold around 10k shares on-market at roughly CA$39.29 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$930k more than they bought in the last 12 months. Recent Insider Transactions • Sep 15
Insider recently sold CA$386k worth of stock On the 11th of September, Dan Figgins sold around 10k shares on-market at roughly CA$38.58 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$537k more than they bought in the last 12 months. Declared Dividend • Aug 14
Second quarter dividend of CA$0.14 announced Shareholders will receive a dividend of CA$0.14. Ex-date: 15th October 2024 Payment date: 25th October 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: US$0.74 (vs US$0.42 in 2Q 2023) Second quarter 2024 results: EPS: US$0.74 (up from US$0.42 in 2Q 2023). Revenue: US$549.5m (down 6.2% from 2Q 2023). Net income: US$17.0m (up 82% from 2Q 2023). Profit margin: 3.1% (up from 1.6% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Aug 09
Adentra Inc. Declares A Dividend, Payable on October 25, 2024 ADENTRA Inc. declared a dividend of CAD 0.14 per share, payable on October 25, 2024 to shareholders of record as of October 15, 2024. Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CA$44.70, the stock trades at a trailing P/E ratio of 21.8x. Average forward P/E is 11x in the Trade Distributors industry in Canada. Total returns to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$24.78 per share. Announcement • Jul 30
ADENTRA Inc. (TSX:ADEN) acquired Substantially all the assets of Woolf Distributing Company, Inc. for approximately $140 million. ADENTRA Inc. (TSX:ADEN) acquired Substantially all the assets of Woolf Distributing Company, Inc. for approximately $140 million on July 29, 2024. The Acquisition of Woolf was completed for an upfront purchase price of $130 million, financed by the ADENTRA Inc.'s existing credit facilities. An additional earn-out consideration of $5 million may be payable related to each of the calendar years ending 2024, 2025 and 2026 contingent upon achieving certain earnings performance targets. Following the acquisition of Woolf, ADENTRA will still have ample access to capital remaining.
ADENTRA Inc. (TSX:ADEN) completed the acquisition of Substantially all the assets of Woolf Distributing Company, Inc. on July 29, 2024. Announcement • Jul 16
ADENTRA Inc. to Report Q2, 2024 Results on Aug 08, 2024 ADENTRA Inc. announced that they will report Q2, 2024 results After-Market on Aug 08, 2024 Upcoming Dividend • Jul 08
Upcoming dividend of CA$0.14 per share Eligible shareholders must have bought the stock before 15 July 2024. Payment date: 26 July 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Canadian dividend payers (6.6%). Lower than average of industry peers (2.5%). New Risk • Jun 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 12% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (1.7% net profit margin). Shareholders have been diluted in the past year (12% increase in shares outstanding). Significant insider selling over the past 3 months (CA$78m sold). Announcement • Jun 13
ADENTRA Inc. has completed a Follow-on Equity Offering in the amount of CAD 87.0325 million. ADENTRA Inc. has completed a Follow-on Equity Offering in the amount of CAD 87.0325 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 2,246,000
Price\Range: CAD 38.75
Discount Per Security: CAD 1.55 Announcement • Jun 06
ADENTRA Inc. has filed a Follow-on Equity Offering in the amount of $87.0325 million. ADENTRA Inc. has filed a Follow-on Equity Offering in the amount of $87.0325 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 2,246,000
Price\Range: $38.75 Announcement • Jun 01
ADENTRA Inc. Announces Peter Bull Steps Down from Board of Directors ADENTRA Inc. announced that after 11 years of service Mr. Peter Bull has stepped down from ADENTRA's Board of Directors, and has reduced a portion of his share ownership position to achieve certain personal financial and estate planning objectives. Mr. Bull emphasized he remains a significant and long-term investor in ADENTRA and continues to have great confidence in the Company's future. Recent Insider Transactions • May 17
Insider recently sold CA$269k worth of stock On the 15th of May, Lance Blanco sold around 7k shares on-market at roughly CA$38.39 per share. This transaction amounted to 6.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$402k more than they bought in the last 12 months. Declared Dividend • May 13
Dividend of CA$0.14 announced Shareholders will receive a dividend of CA$0.14. Ex-date: 15th July 2024 Payment date: 26th July 2024 Dividend yield will be 1.5%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: US$0.48 (vs US$0.43 in 1Q 2023) First quarter 2024 results: EPS: US$0.48 (up from US$0.43 in 1Q 2023). Revenue: US$535.1m (down 7.7% from 1Q 2023). Net income: US$10.7m (up 11% from 1Q 2023). Profit margin: 2.0% (up from 1.7% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Trade Distributors industry in Canada. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Apr 24
ADENTRA Inc. to Report Q1, 2024 Results on May 08, 2024 ADENTRA Inc. announced that they will report Q1, 2024 results After-Market on May 08, 2024 Upcoming Dividend • Apr 05
Upcoming dividend of CA$0.14 per share Eligible shareholders must have bought the stock before 12 April 2024. Payment date: 26 April 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Canadian dividend payers (6.3%). Lower than average of industry peers (2.2%). Declared Dividend • Mar 21
Fourth quarter dividend of CA$0.14 announced Shareholders will receive a dividend of CA$0.14. Ex-date: 12th April 2024 Payment date: 26th April 2024 Dividend yield will be 1.3%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 69% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Mar 19
Price target increased by 16% to CA$47.75 Up from CA$41.17, the current price target is an average from 6 analysts. New target price is 21% above last closing price of CA$39.54. Stock is up 56% over the past year. The company is forecast to post earnings per share of US$2.42 for next year compared to US$1.61 last year. Announcement • Feb 23
ADENTRA Inc., Annual General Meeting, May 08, 2024 ADENTRA Inc., Annual General Meeting, May 08, 2024. Price Target Changed • Feb 06
Price target increased by 8.9% to CA$42.83 Up from CA$39.33, the current price target is an average from 6 analysts. New target price is 34% above last closing price of CA$31.94. Stock is down 8.9% over the past year. The company posted earnings per share of US$5.50 last year. Announcement • Jan 31
ADENTRA Inc. to Report Q4, 2023 Results on Mar 14, 2024 ADENTRA Inc. announced that they will report Q4, 2023 results After-Market on Mar 14, 2024 Recent Insider Transactions Derivative • Jan 07
Independent Director exercised options to buy CA$182k worth of stock. On the 31st of December, Peter Bull exercised options to buy 6k shares at a strike price of around CA$25.38, costing a total of CA$150k. This transaction amounted to 5.1% of their direct individual holding at the time of the trade. Since March 2023, Peter has owned 116.80k shares directly. Company insiders have collectively bought CA$1.7m more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Jan 05
Upcoming dividend of CA$0.14 per share at 1.8% yield Eligible shareholders must have bought the stock before 12 January 2024. Payment date: 26 January 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Canadian dividend payers (6.5%). Lower than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CA$31.17, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Trade Distributors industry in Canada. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$40.29 per share. Announcement • Nov 11
Adentra Inc. Declares Dividend, Payable on January 26, 2024 ADENTRA Inc. declared a dividend of CAD 0.14 per share, payable on January 26, 2024 to shareholders of record as of January 15, 2024. Reported Earnings • Nov 11
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: US$0.36 (down from US$1.28 in 3Q 2022). Revenue: US$558.7m (down 15% from 3Q 2022). Net income: US$8.09m (down 73% from 3Q 2022). Profit margin: 1.4% (down from 4.5% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates significantly. Revenue is forecast to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Canada are expected to remain flat. 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 2% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 13
Price target decreased by 7.7% to CA$43.25 Down from CA$46.83, the current price target is an average from 6 analysts. New target price is 61% above last closing price of CA$26.91. Stock is up 16% over the past year. The company is forecast to post earnings per share of US$1.21 for next year compared to US$5.50 last year. Announcement • Oct 13
ADENTRA Inc. to Report Q3, 2023 Results on Nov 08, 2023 ADENTRA Inc. announced that they will report Q3, 2023 results After-Market on Nov 08, 2023 