Reported Earnings • 14h
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: CA$0.59 (up from CA$0.025 in 2Q 2025). Revenue: CA$228.7m (up 18% from 2Q 2025). Net income: CA$6.72m (up CA$6.42m from 2Q 2025). Profit margin: 2.9% (up from 0.2% in 2Q 2025). Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) also surpassed analyst estimates by 41%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 1.8% decline forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Announcement • 18h
Calian Group Ltd. Declares Quarterly Dividend, Payable on June 10, 2026 On May 13, 2026, Calian Group Ltd. declared a quarterly dividend of $0.28 per share. The dividend is payable June 10, 2026, to shareholders of record as of May 27, 2026. Dividends paid by the Company are considered “eligible dividend” for tax purposes. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CA$82.24, the stock trades at a forward P/E ratio of 91x. Average forward P/E is 15x in the Commercial Services industry in Canada. Total returns to shareholders of 39% over the past three years. Announcement • Mar 27
Calian Group Ltd. Announces Resignation of Derek Clark as President Calian Group Ltd. announced that Derek Clark, President of the company’s Essential Industries business unit, will be leaving the Company to pursue a new opportunity. The Essential Industries business continues to be supported by a strong and experienced leadership team, with Vice Presidents across the divisions working together to maintain continuity as the Company undertakes a search for a new President. Recent Insider Transactions Derivative • Feb 27
Independent Director exercised options to buy CA$146k worth of stock. On the 26th of February, Royden Richardson exercised options to buy 2k shares at a strike price of around CA$60.35, costing a total of CA$110k. This transaction amounted to 14% of their direct individual holding at the time of the trade. Since March 2025, Royden's direct individual holding has increased from 6.68k shares to 12.72k. Company insiders have collectively bought CA$2.6m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Feb 24
Calian Group Ltd. Appoints Will Majic as Acting Chief Financial Officer, Effective from February 23, 2026 Calian Group Ltd. announced the appointment of Will Majic as acting Chief Financial Officer, effective February 23, 2026. Will Majic joined Calian in 2017 and has served as Vice President, Finance, Director of Finance, and Controller. He holds a Bachelor of Commerce from Carleton University, graduating with honours in accounting, and is a Chartered Professional Accountant. Majic has led finance due diligence and integration for 19 acquisitions, supported two equity financings totaling $150 million, and played a key role in establishing a $350 million syndicated credit facility. He also led enterprise-wide ERP implementation and enhanced internal controls, reporting standards and cash flow management to support the company’s expanding operations. During his tenure, Calian's annual revenue grew from approximately $275 million to over $750 million. He has led finance due diligence and integration for 19 acquisitions, supported two equity financings totaling $150 million, and played a key role in establishing a $350 million syndicated credit facility. He also led enterprise-wide ERP implementation and enhanced internal controls, reporting standards and cash flow management to support the company’s expanding operations. A Chartered Professional Accountant, Majic holds a Bachelor of Commerce from Carleton University, graduating with honours in accounting. Major Estimate Revision • Feb 19
Consensus EPS estimates fall by 37% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from CA$2.40 to CA$1.53 per share. Revenue forecast steady at CA$853.4m. Net income forecast to shrink 20% next year vs 15% growth forecast for Commercial Services industry in Canada . Consensus price target up from CA$73.38 to CA$82.64. Share price rose 15% to CA$76.30 over the past week. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CA$76.30, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 18x in the Commercial Services industry in Canada. Total returns to shareholders of 35% over the past three years. Declared Dividend • Feb 15
First quarter dividend of CA$0.28 announced Dividend of CA$0.28 is the same as last year. Ex-date: 25th February 2026 Payment date: 11th March 2026 Dividend yield will be 1.6%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to grow by 2.5% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 13
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: CA$0.45 (up from CA$0.083 loss in 1Q 2025). Revenue: CA$208.0m (up 12% from 1Q 2025). Net income: CA$5.10m (up CA$6.07m from 1Q 2025). Profit margin: 2.5% (up from net loss in 1Q 2025). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 7.0%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Feb 13
Calian Group Ltd. Announces Board Changes Calian Group Ltd., at its annual meeting of shareholders held on February 12, 2026, appointed David 'Jake' Jacobson as directors of the company. The Board of Directors has appointed Valerie Sorbie as Chair of the Board, effective February 12, 2026. Announcement • Feb 12
Calian Group Ltd. Declares Quarterly Dividend, Payable March 11, 2026 Calian Group Ltd. declared a quarterly dividend of $0.28 per share. The dividend is payable March 11, 2026, to shareholders of record as of February 25, 2026. Dividends paid by the Company are considered “eligible dividend” for tax purposes. Board Change • Feb 01
High number of new directors CEO & Director Patrick Houston was the last director to join the board, commencing their role in 2026. Announcement • Jan 30
Calian Group Ltd. to Report Q1, 2026 Results on Feb 12, 2026 Calian Group Ltd. announced that they will report Q1, 2026 results Pre-Market on Feb 12, 2026 Price Target Changed • Jan 29
Price target increased by 8.1% to CA$70.64 Up from CA$65.33, the current price target is an average from 7 analysts. New target price is 6.1% above last closing price of CA$66.56. Stock is up 33% over the past year. The company is forecast to post earnings per share of CA$2.40 for next year compared to CA$1.78 last year. Recent Insider Transactions Derivative • Dec 12
President exercised options to buy CA$178k worth of stock. On the 9th of December, Kevin Ford exercised options to buy 3k shares at a strike price of around CA$57.53, costing a total of CA$175k. This transaction amounted to 4.8% of their direct individual holding at the time of the trade. Since December 2024, Kevin's direct individual holding has increased from 47.92k shares to 67.07k. Company insiders have collectively bought CA$2.7m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Dec 03
Independent Director recently bought CA$125k worth of stock On the 28th of November, Royden Richardson bought around 2k shares on-market at roughly CA$52.00 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$713k more in shares than they have sold in the last 12 months. Declared Dividend • Nov 28
Fourth quarter dividend of CA$0.28 announced Dividend of CA$0.28 is the same as last year. Ex-date: 9th December 2025 Payment date: 23rd December 2025 Dividend yield will be 2.1%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (63% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to grow by 101% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 27
Calian Group Ltd. Declares Quarterly Dividend, Payable on December 23, 2025 On November 25, 2025, Calian Group Ltd. declared a quarterly dividend of $0.28 per share. The dividend is payable December 23, 2025, to shareholders of record as of December 9, 2025. Reported Earnings • Nov 26
Full year 2025 earnings released Full year 2025 results: Net income: (down CA$11.2m from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. New Risk • Nov 26
New major risk - Revenue and earnings growth Earnings have declined by 17% 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 Risk Earnings have declined by 17% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Announcement • Nov 24
Calian Group Ltd., Annual General Meeting, Feb 12, 2026 Calian Group Ltd., Annual General Meeting, Feb 12, 2026. Recent Insider Transactions Derivative • Nov 23
President exercised options to buy CA$647k worth of stock. On the 19th of November, Kevin Ford exercised options to buy 14k shares at a strike price of around CA$51.50, costing a total of CA$727k. This transaction amounted to 28% of their direct individual holding at the time of the trade. Since December 2024, Kevin's direct individual holding has increased from 47.92k shares to 49.92k. Company insiders have collectively bought CA$1.7m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Nov 12
Calian Group Ltd. Announces Board Changes Calian Group Ltd. announced that George Weber and Kevin Ford will retire from the board as previously announced. In addition, Jo-Anne Poirier has advised the board that she will not stand for re-election at the next annual meeting. As part of this board renewal process, which began with the addition of Lisa Greatrix, Josh Blair, and Eric Demirian to the Board earlier this year, Calian confirmed that incoming CEO Patrick Houston will join the board following his formal appointment on January 1, 2026. Announcement • Oct 07
Calian Group Ltd. Announces CEO Changes Calian Group Ltd. announced that Kevin Ford will retire as Chief Executive Officer after 10 years as CEO and 15 years with the company. Mr. Ford will remain CEO until the end of 2025 to ensure a smooth transition for all stakeholders. In accordance with the Board of Directors’ comprehensive succession planning process, the Board has appointed Patrick Houston, currently Chief Financial Officer and Chief Development Officer, as incoming Chief Executive Officer, effective January 1, 2026, and will initiate a search for a new CFO to succeed Mr. Houston. Under Mr. Ford’s leadership, Calian has experienced a decade of transformation and record growth. Since joining Calian in 2019, Mr. Houston has overseen finance, mergers and acquisitions, corporate development, investor relations, legal, and ESG. He has spearheaded 15 strategic acquisitions that have been pivotal in scaling the business and enabling significant international expansion. More recently, in his capacity as Chief Development Officer, Mr. Houston has successfully developed and implemented growth strategies for Calian’s GNSS, Nuclear, AgTech, and Composites divisions, which have delivered substantial organic growth for the company. Prior to joining Calian, Mr. Houston held senior financial and operational leadership roles at DragonWave, CanvasPop, and Corsa Security, and began his career at Deloitte. He has also served on several boards, including the Canadian Association of Defence and Security Industries (CADSI), Cliniconex, Kids Up Front Ottawa, and Field Effect Software. Announcement • Sep 23
Calian Group Ltd. Launches Canada's First Defence Innovation Orchestrator to Scale Small to Mid-Sized Enterprise Calian Group Ltd. announced the launch of Calian Ventures, a initiative helping Canada's small to mid-sized enterprise (SMEs) and partners scale proven Canadian defence solutions into sovereign capabilities to meet the evolving needs of the Canadian Armed Forces (CAF). Working with Canadian partners including academia, financial institutions, and business support organizations, Calian Ventures will initially focus on three priority streams: command and control decision support systems, autonomous systems and space resource orchestration. SMEs will work with Calian and its partners to help test, validate and scale their technologies into Canadian and allied procurements while maintaining their intellectual property. According to the State of Canada's Defence Industry 2024 report, Canada's defence industrial base includes 5585 firms generating $14.3 billion in revenue and supporting over 81,000 jobs. More than 85% of these companies are SMEs with fewer than 250 employees. These firms are the drivers of innovation yet often face challenges scaling solutions into large programs for the CAF. Federal initiatives such as the Innovation for Defence Excellence and Security (IDEaS) program have funded over 600 innovation projects since 2018, engaging hundreds of SMEs and sparking promising technologies. Calian Ventures is designed to complement and build on the success of programs like IDEaS by providing SMEs with additional pathways to test, validate and scale their solutions into operational capabilities for the CAF and allied markets. Declared Dividend • Aug 15
Third quarter dividend of CA$0.28 announced Dividend of CA$0.28 is the same as last year. Ex-date: 26th August 2025 Payment date: 9th September 2025 Dividend yield will be 2.4%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (26% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Reported Earnings • Aug 14
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: CA$0.051 (down from CA$0.11 in 3Q 2024). Revenue: CA$192.2m (up 3.9% from 3Q 2024). Net income: CA$590.0k (down 55% from 3Q 2024). Profit margin: 0.3% (down from 0.7% in 3Q 2024). Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) also missed analyst estimates by 90%. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, while revenues in the Commercial Services industry in Canada are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Aug 14
Calian Group Ltd. Declares Quarterly Dividend, Payable on September 9, 2025 On August 12, 2025, Calian Group Ltd. declared a quarterly dividend of $0.28 per share. The dividend is payable September 9, 2025, to shareholders of record as of August 26, 2025. Announcement • Jun 24
Calian Group Ltd Appoints Chris Pogue as President, Defence & Space, Effective July 7, 2025 Calian Group Ltd. announced that Chris Pogue will join the company as President, Defence & Space, effective July 7, 2025. In this newly created role, Pogue will lead a high-performance organization that brings together Calian’s Advanced Technologies and Learning business units—leveraging the synergies of its communications and manufacturing solutions alongside its immersive training and simulation expertise to accelerate mission success for defence and space customers alike. Pogue brings over 20 years of senior executive experience. He most recently served as President and CEO of Thales Canada, where he expanded naval support services, re-established land-forces capabilities, and guided key AI and digital transformation initiatives. Prior to Thales, he led MDA Government’s Defence Space portfolio and held leadership roles at General Dynamics Mission Systems Canada and CAE Professional Services. Throughout his career, Pogue has championed the development of innovation ecosystems by connecting Canadian small and medium-sized businesses to national defence and space priorities. A retired Royal Canadian Air Force officer with more than 3,500 flight hours on the C-130 Hercules. Recent Insider Transactions • May 29
Director recently bought CA$72k worth of stock On the 26th of May, Eric Demirian bought around 2k shares on-market at roughly CA$38.00 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$638k more in shares than they have sold in the last 12 months. Major Estimate Revision • May 21
Consensus EPS estimates fall by 54% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CA$818.1m to CA$798.6m. EPS estimate also fell from CA$2.00 per share to CA$0.927 per share. Net income forecast to grow 42,713% next year vs 40% growth forecast for Commercial Services industry in Canada. Consensus price target down from CA$68.57 to CA$57.43. Share price fell 18% to CA$40.05 over the past week. Declared Dividend • May 18
Second quarter dividend of CA$0.28 announced Dividend of CA$0.28 is the same as last year. Ex-date: 27th May 2025 Payment date: 10th June 2025 Dividend yield will be 2.8%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 132x earnings). However, it is well covered by cash flows (35% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. The company's earnings per share (EPS) would need to grow by 14,599% to bring the payout ratio under control. EPS is expected to grow by 534% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Price Target Changed • May 15
Price target decreased by 14% to CA$58.86 Down from CA$68.57, the current price target is an average from 7 analysts. New target price is 44% above last closing price of CA$41.00. Stock is down 29% over the past year. The company is forecast to post earnings per share of CA$0.93 for next year compared to CA$0.94 last year. Announcement • May 15
Calian Group Ltd. Declares Quarterly Dividend, Payable on June 10, 2025 On May 13, 2025, Calian Group Ltd. declared a quarterly dividend of $0.28 per share. The dividend is payable June 10, 2025, to shareholders of record as of May 27, 2025. Announcement • May 14
Calian Group Ltd. (TSX:CGY) acquired Advanced Medical Solutions Inc. Calian Group Ltd. (TSX:CGY) acquired Advanced Medical Solutions Inc on May 14, 2025.
Calian Group Ltd. (TSX:CGY) completed the acquisition of Advanced Medical Solutions Inc on May 14, 2025. Announcement • Apr 26
Calian Group Ltd. Announces Appointment to Board of Directors Calian Group Ltd. announced the appointment of Eric Demirian to its Board of Directors. Since 2003, Demirian has served as President of Parklea Capital Inc., a boutique financial and strategy advisory firm, and of Demicap Inc., a private investment firm. He was previously Executive Vice President at Group Telecom Inc. (2000–2003) and a partner at PricewaterhouseCoopers LLP (1983–2000), where he led the Information and Communications Practice. Demirian holds a Bachelor of Business Management from Toronto Metropolitan University and is a CPA, CGA and CA. Demirian has been Chair of the Board of Descartes Systems Group Inc. since 2014, having joined the board in 2011 and previously chaired its Audit Committee. He currently serves on Descartes’ Audit and Corporate Governance Committees. He is also a director of IMAX Corporation and has held board and audit committee roles at a number of public and private companies, including Enghouse Systems Ltd. from 2004 through 2025. Demirian’s appointment is effective immediately. With the recent additions of Josh Blair and Lisa Greatrix in February, the appointment of Demirian brings the total number of board members to 10, of which nine are independent and half are women. Major Estimate Revision • Feb 20
Consensus EPS estimates fall by 20% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from CA$2.50 to CA$1.99 per share. Revenue forecast steady at CA$818.1m. Net income forecast to grow 427% next year vs 33% growth forecast for Commercial Services industry in Canada. Consensus price target down from CA$70.86 to CA$69.29. Share price fell 11% to CA$44.24 over the past week. Recent Insider Transactions • Feb 19
Independent Director recently bought CA$221k worth of stock On the 18th of February, Josh Blair bought around 5k shares on-market at roughly CA$44.20 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$451k more in shares than they have sold in the last 12 months. Declared Dividend • Feb 16
First quarter dividend of CA$0.28 announced Dividend of CA$0.28 is the same as last year. Ex-date: 26th February 2025 Payment date: 12th March 2025 Dividend yield will be 2.5%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is not covered by earnings (283% earnings payout ratio). However, it is well covered by cash flows (21% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. The company's earnings per share (EPS) would need to grow by 215% to bring the payout ratio under control. EPS is expected to grow by 316% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Feb 13
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: CA$0.08 loss per share (down from CA$0.47 profit in 1Q 2024). Revenue: CA$185.0m (up 3.3% from 1Q 2024). Net loss: CA$976.0k (down 118% from profit in 1Q 2024). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Announcement • Jan 31
Calian Group Ltd. to Report Q1, 2025 Results on Feb 13, 2025 Calian Group Ltd. announced that they will report Q1, 2025 results at 9:30 AM, US Eastern Standard Time on Feb 13, 2025 Recent Insider Transactions • Dec 31
Independent Director recently bought CA$82k worth of stock On the 27th of December, Valerie Sorbie bought around 2k shares on-market at roughly CA$48.27 per share. This transaction increased Valerie's direct individual holding by 4x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$200k more in shares than they have sold in the last 12 months. Recent Insider Transactions Derivative • Dec 11
Independent Director exercised options and sold CA$57k worth of stock On the 9th of December, Young Park exercised 5.00k options at around CA$36.49, then sold 4k of the shares acquired at an average of CA$50.09 per share and kept the remainder. Since December 2023, Young's direct individual holding has increased from 3.88k shares to 4.00k. Company insiders have collectively bought CA$847k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Dec 09
Calian Group Ltd., Annual General Meeting, Feb 13, 2025 Calian Group Ltd., Annual General Meeting, Feb 13, 2025. Announcement • Dec 04
Calian Group Ltd. Appoints Leeana Smith-Ryland as President Calian Group Ltd. announced the launch of an independent U.S.-focused subsidiary, Calian US Inc. The subsidiary, focused on U.S. federal government and defense opportunities will be led by Leeana Smith-Ryland as president. Leeana Smith-Ryland, a seasoned leader with a successful track record, has been appointed as President of Calian US Inc. Smith-Ryland brings over two decades of experience in the communications and defense industries, including as the head of Calian Pacific Teleport (CPT), a leading provider of satellite communications services. Under her leadership, CPT has expanded its global footprint and enhanced its service offerings to meet the evolving needs of clients worldwide. Major Estimate Revision • Dec 03
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from CA$2.90 to CA$2.50 per share. Revenue forecast steady at CA$821.3m. Net income forecast to grow 137% next year vs 42% growth forecast for Commercial Services industry in Canada. Consensus price target broadly unchanged at CA$70.86. Share price rose 5.2% to CA$50.49 over the past week. Declared Dividend • Nov 28
Fourth quarter dividend of CA$0.28 announced Dividend of CA$0.28 is the same as last year. Ex-date: 9th December 2024 Payment date: 23rd December 2024 Dividend yield will be 2.3%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to grow by 203% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Nov 26
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.5% Last year net profit margin: 2.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Announcement • Nov 26
Calian Group Ltd. Declares Quarterly Dividend, Payable on December 23, 2024 On November 25, 2024, Calian declared a quarterly dividend of $0.28 per share. The dividend is payable December 23, 2024, to shareholders of record as of December 9, 2024. Dividends paid by the Company are considered “eligible dividend” for tax purposes. Announcement • Nov 21
Calian Group Ltd. to Report Q4, 2024 Results on Nov 26, 2024 Calian Group Ltd. announced that they will report Q4, 2024 results Pre-Market on Nov 26, 2024 Recent Insider Transactions Derivative • Nov 18
Key Executive exercised options to buy CA$113k worth of stock. On the 15th of November, Patrick Houston exercised options to buy 2k shares at a strike price of around CA$48.88, costing a total of CA$113k. This transaction amounted to 24% of their direct individual holding at the time of the trade. Since December 2023, Patrick's direct individual holding has increased from 7.27k shares to 9.60k. Company insiders have collectively bought CA$438k more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • Aug 14
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CA$784.1m to CA$759.8m. EPS estimate also fell from CA$1.81 per share to CA$1.54 per share. Net income forecast to grow 61% next year vs 36% growth forecast for Commercial Services industry in Canada. Consensus price target down from CA$78.57 to CA$71.86. Share price fell 15% to CA$45.99 over the past week. Declared Dividend • Aug 12
Third quarter dividend of CA$0.28 announced Dividend of CA$0.28 is the same as last year. Ex-date: 21st August 2024 Payment date: 4th September 2024 Dividend yield will be 2.4%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to grow by 161% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Aug 11
Price target decreased by 7.8% to CA$72.43 Down from CA$78.57, the current price target is an average from 7 analysts. New target price is 58% above last closing price of CA$45.80. Stock is down 17% over the past year. The company is forecast to post earnings per share of CA$1.45 for next year compared to CA$1.61 last year. Reported Earnings • Aug 08
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: CA$0.11 (down from CA$0.40 in 3Q 2023). Revenue: CA$185.0m (up 11% from 3Q 2023). Net income: CA$1.30m (down 72% from 3Q 2023). Profit margin: 0.7% (down from 2.8% in 3Q 2023). Revenue missed analyst estimates by 5.7%. Earnings per share (EPS) also missed analyst estimates by 77%. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jul 25
Calian Group Ltd. to Report Q3, 2024 Results on Aug 07, 2024 Calian Group Ltd. announced that they will report Q3, 2024 results at 4:00 PM, US Eastern Standard Time on Aug 07, 2024 Recent Insider Transactions Derivative • Jul 09
Key Executive exercised options to buy CA$65k worth of stock. On the 5th of July, Patrick Houston exercised options to buy 1k shares at a strike price of around CA$55.17, costing a total of CA$68k. This transaction amounted to 15% of their direct individual holding at the time of the trade. Since September 2023, Patrick's direct individual holding has increased from 5.27k shares to 7.99k. Company insiders have collectively bought CA$444k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Jul 01
Independent Director exercised options and sold CA$79k worth of stock On the 28th of June, Raymond Basler exercised 4k options at a strike price of around CA$36.49 and sold these shares for an average price of CA$56.20 per share. This trade did not impact their existing holding. Since September 2023, Raymond's direct individual holding has increased from 26.18k shares to 28.36k. Company insiders have collectively bought CA$376k more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • May 21
Consensus EPS estimates fall by 22%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from CA$770.2m to CA$784.4m. EPS estimate fell from CA$2.27 to CA$1.77 per share. Net income forecast to grow 41% next year vs 26% growth forecast for Commercial Services industry in Canada. Consensus price target up from CA$76.25 to CA$78.57. Share price rose 3.2% to CA$58.24 over the past week. Declared Dividend • May 19
Second quarter dividend of CA$0.28 announced Dividend of CA$0.28 is the same as last year. Ex-date: 28th May 2024 Payment date: 11th June 2024 Dividend yield will be 1.9%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to grow by 45% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 16
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: CA$0.42 (up from CA$0.39 in 2Q 2023). Revenue: CA$201.3m (up 19% from 2Q 2023). Net income: CA$4.93m (up 9.0% from 2Q 2023). Profit margin: 2.4% (down from 2.7% in 2Q 2023). Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Commercial Services industry in Canada. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has remained flat. Announcement • May 16
Calian Group Ltd. Declares Quarterly Dividend, Payable on June 11, 2024 Calian Group Ltd. declared a quarterly dividend of $0.28 per share. The dividend is payable June 11, 2024, to shareholders of record as of May 28, 2024. 
