Canada · Delayed Price · Currency is CAD Decisive Dividend Earnings Call Transcripts
Fiscal Year 2026
-
Q3 sales rose 20% YoY to CAD 40.8M, but input-cost inflation and mix limited adjusted EBITDA growth to 3%. Management is pursuing pricing and cost actions while anticipating growth from recent investments and new products.
-
Q2 2026 saw 6% sales growth year-over-year, driven by organic gains and the Be Fire acquisition, which expanded European presence. Adjusted EBITDA rose 1% despite higher costs, and the company strengthened its balance sheet with new financing. Ongoing investments and integration efforts are expected to drive further growth.
-
Q1 2026 sales declined 3% year-over-year, but strong agriculture and wear parts growth offset sector-specific and seasonal declines. Adjusted EBITDA fell 7%, while the dividend payout ratio remained stable at 80%. M&A activity and recent investments are expected to drive future growth.
Fiscal Year 2025
-
Q4 and FY2025 saw record revenue and strong EBITDA growth, with all business segments posting sales increases. Improved cash flow and leverage ratios support a sustainable dividend and future M&A, while new products and acquisitions are set to drive 2026 growth.
-
Q3 2025 saw record year-to-date sales and EBITDA, with strong free cash flow and improved leverage. Growth was driven by diversified segment performance and recent acquisitions, while U.S. economic headwinds impacted select businesses. Order backlogs and new products support a positive near-term outlook.
-
Record Q2 2025 results with 26% sales and 56% adjusted EBITDA growth year-over-year. All business segments contributed to gains, with strong order backlogs and improved margins, though some U.S.-exposed sectors face near-term headwinds.
-
Record Q1 revenue and EBITDA were achieved, with all business segments posting strong growth and improved cash flow. Order backlogs and new product launches support a positive outlook, while M&A remains a strategic focus amid U.S. trade policy uncertainty.
Fiscal Year 2024
-
Q4 2024 delivered record results with sales and EBITDA growth, driven by industrial and wear parts segments, while hearth sales declined but order activity improved. The outlook for Q1 2025 is strong, with ongoing tariff risks being actively managed and a robust acquisition pipeline in place.
-
Sequential improvements in Q3 2024 were driven by operational wins, cost controls, and strong order activity across most segments. Continued growth is expected into Q4 2024 and 2025, supported by new contracts, regulatory approvals, and a robust acquisition pipeline.
-
Q2 2024 saw challenging market conditions, but recent project wins, cost controls, and improved order flow position the group for a stronger second half. Inventory build is slowing, CapEx is lower, and M&A remains selective, with a focus on sustainable dividends and operational efficiency.