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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Park Lawn Corp. (PLC-T) said its third-quarter revenue nearly doubled to $43.2-million up from $22.4-million for the same three-month period in 2017.

Net earnings attributable to shareholders was $3.3-million compared to a loss of $171,116 a year ago. Adjusted net earnings attributable to shareholders more than doubled to $4,.5-million from $2.2-million.

"We are pleased with the results for the quarter and believe they demonstrate solid progress toward our long-term aspirational target. We have made significant progress on all fronts, including investments in organic growth initiatives, margin enhancement and targeted strategic acquisitions," stated chairman and CEO Andrew Clark.

**

Canaccord Genuity Group Inc. (CF-T) said it generated $300-million in revenue in the third quarter an increase of 57 per cent from $191.5-million a year earlier and ahead of expectations of $278.5-million.

Net income of $13.1-million or 9 cents per share compared to a net loss of $7.3-million or 11 cents a year ago.

"We are pleased to report our fourth consecutive quarter of meaningful year-over-year earnings growth, driven by continued strong financial and business performance," stated CEO Dan Daviau. "By growing contributions from our global wealth management operations and continually strengthening market share in our capital markets operations, we remain optimistic about the opportunities for our business and our ability to deliver superior returns for our shareholders."

**

Stelco Holdings Inc. (STLC-T) reported a third-quarter revenue increase to $619-million, up from $336-million a year ago and ahead of expectations of $591.6-million.

"The year-over-year revenue increase was due primarily to a 43-per-cent increase in steel shipping volumes and a 24-per-cent increase in average steel selling price, as well as an increase in non-steel sales," the company stated.

Net income for the quarter was $123-million, up from a net loss of $13-million in the third quarter of 2017, "which benefited from an increase in operating income of $137-million, partially offset by higher restructuring costs," the company stated.

**

Automotive Properties Real Estate Investment Trust (APR.UN-T) said its property rental revenue was $11.8-million in the third quarter, an increase of 11.7 per cent from the third quarter of 2017 and in line with expectations.

Net Income was $5.7-million, compared to $12.7-million a year ago.

Funds from operations came in at $6.7 million or 25 cents per unit, which was in line with expectations and an increase from $6.4-million or 24 cents a year ago.

**

Plaza Retail REIT (PLZ.UN-T) reported total property rental revenue of $25.7-million in the third quarter, up from $7.6-million a year ago.

Funds from operations came in at $9.4-million or 9 cents per unit, which was in line with expectations and compared to $9.2-million or 8.9 cents a year ago.

Profit and total comprehensive income for the current quarter was $7-million compared to $7.6-million in the prior year. “The decrease was mainly due to a decrease in share of profits of associates mainly relating to a decrease in non-cash fair value adjustments to the underlying investment properties,” the company stated.

**

Pan American Silver Corp. (PAAS-T) said on Wednesday it agreed to buy miner Tahoe Resources Inc. (TAHO-N) for $1.07 billion in cash and stock, creating one of the world’s top silver mining companies.

Pan American shareholders will own about three-fourths of the combined company, with Tahoe shareholders owning the rest in the combined company, Pan American said.

Tahoe shareholders may elect to receive $3.40 in cash or 0.2403 Pan American share for each Tahoe share held, the company said.

The base purchase price of $3.40 per share represents a premium of about 55 percent to Tahoe’s last close.

The purchase price is limited to a maximum cash consideration of $275 million and a maximum issue of 56 million Pan American shares.

The deal also includes an issuance of contingent value rights to Tahoe shareholders, payable upon first commercial shipment of concentrate following restart of operations at the Escobal mine, the company said.

The total consideration, including the base purchase price and the conditional payment, is $4.10 per share.

The boards of both companies have approved the deal, the company said.

CIBC World Markets Inc is acting as lead financial adviser to Pan American and Trinity Advisors Corp is acting as financial adviser to Tahoe.

The deal is expected to close in the first-quarter of 2019.

-Reuters

**

Concordia International Corp. (CXR-T) reported third-quarter revenue of US$127.7-million, which was in line with expectations and compared to US$154.6-million for the third quarter of 2017.

Net income was US$1.8 billion versus a loss of US$69.5-million a year ago. "The increase in net income compared to the second quarter of 2018 is primarily due to a gain on debt settlement of US$1.9-billion arising from the company's recapitalization transaction, partially offset by higher costs associated with the recapitalization transaction," the company stated.

Adjusted EBITDA of US$59-million, compared to US$78.6 million for the third quarter of 2017.

**

Chorus Aviation Inc. (CHR-T) reported third-quarter net income was $43.7 million down from $79.3-million a year earlier. “The decrease was primarily due to a quarter-over-quarter change in foreign exchange of $17.1-million, the ... $18-million decrease in the adjusted net income and increased employee separation program costs of $500,000,” the company stated

Operating revenue was $366.7-million down from $343.7-million a year ago.

Analysts were expecting revenue of $373.4-million and net income of $38.9-million.

**

Cineplex Inc. (CGX-T) reported its third-quarter profit fell compared with a year ago as revenue increased 4.4 per cent, boosted by gains at the box office and concession stands.

The movie theatre company says it earned $10.2-million or 16 cents per diluted share for the quarter ended Sept. 30, compared with a profit of $17.2-million or 27 cents per diluted share a year ago.

The results for the most recent quarter included higher share-based compensation costs and $1-million in restructuring costs.

Revenue for the quarter totalled $386.7-million, up from $370.4-million as box office and concession gains were offset in part by lower advertising revenue.

-The Canadian Press

**

Uni-Select Inc. (UNS-T) reported third-quarter sales were $448.8-million, a 13.4-per-cent increase compared to the same quarter last year, “driven by the sales generated from business acquisitions,” the company stated.

Net earnings were $10.6-million compared to $11.2-million a year ago. Analysts were expecting revenue of $430.6-million and net income of $13.3-million.

**

Boyd Group Income Fund (BYD.UN-T) said third-quarter sales increased to $459.6-million from $391.9-million for the same period in 2017, including same-store sales increases of 4.9 per cent.

Net earnings came in at $16.6-million or 75 cents per unit versus earnings of $19.8-million or 40 cents a year ago.

Adjusted net earnings were $20.4-million or $1.04 per unit compared with $12.5-million or 67 cents a year ago.

Analysts were expecting revenue of $462.4-million and adjusted earnings of $1.07 in the latest quarter.

**

Aimia Inc. (AIM-T) says it has launched a review of its future strategic direction as it works to complete the sale of its Aeroplan program.

The loyalty rewards company says the board of directors has asked management to present it with alternative visions and plans regarding the company's future after the sale of Aeroplan.

The review came as Aimia reported it earned $21.7-million or 11 cents per share in its third quarter, compared with a loss of $40.3-million or 29 cents per share in the same period last year

Revenue totalled $372.7 million for the quarter ended Sept. 30, up from $350.5 million in the third quarter of 2017.

Aimia signed a $450-million deal in August to sell the Aeroplan loyalty program to an Air Canada-led group, which includes TD Bank, CIBC and Visa Canada Corp.

The future of Aeroplan had faced questions after Air Canada rolled out plans to start its own loyalty rewards program in 2020 after its partnership with Aimia expired.

-The Canadian Press

**

Agellan Commercial Real Estate Investment Trust (ACR.UN-T) said it has an agreement to be acquired by Elad Genesis Limited Partnership, an affiliate of El-Ad Group, Ltd., for $14.25 in cash per unit. The transaction values the REIT at approximately $680 -million, including the REIT’s net debt.

The consideration of $14.25 per unit represents a premium of approximately 10 per cent to the REIT’s 20-day volume-weighted average price on the TSX for the period ending Nov. 13.

“The special committee of independent trustees and our board of trustees have unanimously concluded that this transaction is in the best interests of the REIT and its unitholders. We are pleased that this transaction provides significant value and liquidity to unitholders,” said Glen Ladouceur, chair of the board of Agellan.

**

Stornoway Diamond Corp. (SWY-T) said its CEO Matt Manson will step down at the end of the year and be succeeded by Patrick Godin, who is currently the chief operating officer.

The company also reported a third-quarter net loss of $37.6-million or 5 cents per share versus a profit of $2.3-million or nil per share a year earlier.

Revenues were $29.4-million down from $50-million a year ago.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 4:00pm EDT.

SymbolName% changeLast
STLC-T
Stelco Holdings Inc
+1.48%44.67
PLC-T
Park Lawn Corp
-1.42%16.7
CF-T
Canaccord Genuity Group Inc
+1.71%8.9
PAAS-T
Pan American Silver Corp
+3.08%20.42
CHR-T
Chorus Aviation Inc
+1.49%2.05
CGX-T
Cineplex Inc
0%7.37
AIM-T
Aimia Inc
-1.92%2.56

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