The Weekly Brief (As of December 11)
- Royal Bank (RY) posted higher profits in each of its business segments, reporting an adjusted EPS of $3.85, beating the estimate of $3.55, while also hiking the quarterly dividend by 10 cents to $1.64 per share.
- Ottawa has signed a new strategic partnership with MDA Space (MDA) and Telesat to develop military satellite communications for the Canadian Armed Forces in the Arctic.
- Groupe Dynamite (GRGD) – the parent company of women’s apparel brands like Dynamite and Garage – reported solid earnings with adjusted EPS growth of 75%, driven by 31.6% same-store sales growth, while declaring a one-time special dividend of $2.30 per share.
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Amazon (AMZN) announced it plans to spend up to $35 billion in India over the next five years, focusing on business expansion and AI capabilities.
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Dollarama (DOL) reported third-quarter profits of $1.17 per share, up from $0.98 per share in the same quarter last year, while also raising same-store sales growth guidance for its 2026 financial year to between 4.2 percent and 4.7 percent, up from the earlier range of 3.0 percent to 4.0 percent.
*Analysts of 5i Research responsible for this report have a financial or other interest in AMZN. The i2i Fund does not have a financial or other interest in securities mentioned.
Flash Report Update
Amid the rapid decline in some of our favourite growth stocks - namely the CSU family and consumer lenders - we are releasing a ‘special’ flash report update on Constellation Software (CSU), Lumine Group (LMN), Topicus (TOI), goeasy (GSY), and Propel Holdings (PRL). These reports provide our insights into each company’s latest earnings results, valuation levels, and overall outlook.
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Report Update
We have posted a report update on Kinaxis (KXS). KXS is a global leader in cloud-based software-as-a-service (SaaS) solutions for supply chain management. Its share price has recently come under pressure, along with other software names, due to negative sentiment and concerns about AI-related disruption. In this report, we share our perspective on the company’s risk/reward profile.
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Dropping Coverage
We are dropping coverage on Enghouse Systems Limited (ENGH). ENGH has been in our coverage list since December 2011 and, while it delivered strong growth through 2020, the company has struggled to fully turn operations around since its peak. Given its lagging performance, execution challenges, and limited growth catalysts, we are discontinuing coverage on ENGH.
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