Q: Could you please comments on the results and dividend raise.
Do you think, this earnings report is good enough to remove the recent overhang on the stock ?
Thank You
Do you think, this earnings report is good enough to remove the recent overhang on the stock ?
Thank You
5i Research Answer:
EPS of 58c missed estimates of 59.3c; revenue of $138.9M beat estimates of $137.2M. The dividend was raised 9%. Revenue rose 44%. EBITDA of $41.2M rose 37%. Adjusted net income rose 49%. EPS rose 30%. Loans rose 40%. It was another record quarter for the company and a good showing considering economic and rate uncertainty. Loss provisions declined and are the losses since Q1 2021 which was higher due to Covid. Quidmarket, which was an area of concern, performed better than expected. The conference call has not yet occurred but we would consider these good results. The company seems determined to keep raising its dividend until its valuation improves (still at 9X earnings).