Canada · Delayed Price · Currency is CAD ADENTRA Earnings Call Transcripts
Fiscal Year 2025
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Sales grew 3% to CAD 2.25B in 2025 with strong cash flow and margin discipline, despite softer volumes and a muted construction market. Q4 gross margin rose to 22.1%, and leverage improved to 2.2x, positioning the company for renewed M&A activity and continued shareholder returns.
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Q3 saw 4% sales growth and stable margins despite a soft construction market, with strong cash flow and continued shareholder returns. Tariff exposure is managed via price pass-through, and further deleveraging is expected as inventory is reduced.
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Q2 sales rose 8.7% to $597M, driven by Wolf Distributing, with gross margin and EBITDA improving year-over-year. Inventory and leverage are expected to improve in H2, while tariff exposure and trade uncertainty remain key risks.
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Sales grew 1.4% year-over-year, driven by Wolf Distributing, while organic sales declined due to lower volumes. Gross margin held at 21.6%, adjusted EBITDA was $40M, and EPS fell to $0.42. The outlook remains cautious amid macro and trade headwinds.
Fiscal Year 2024
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Stable 2024 results were achieved despite industry headwinds, with improved gross margin and strong cash flow. The Woolf acquisition expanded reach and was accretive, while 2025 is expected to be flat amid macro uncertainty and tariff impacts.
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Q3 2024 saw sales rise 1.8% to $568.8M, driven by the Woolf acquisition, while organic sales declined. Gross margin improved to 21.3%, and adjusted EBITDA was $48M. Outlook remains resilient, with strong cash flow and further acquisitions planned.
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Q2 2024 saw strong margin expansion and EPS growth despite lower sales from price deflation. The Woolf acquisition and equity raise position the company for accretive growth, while a potential refund of $25.7M in duties could further boost results.