could I get your comments on the latest quarterly results please?
The street appears to have liked these, as well as the dividend increase announced earlier this week.
Thanks,
Daniel
A 100% dividend increase is a meaningful statement, but we would note that the new 5c dividend only gets MAL's dividend back to where it was in 2022. EPS of 19c missed estimates of 20c; revenue of $260.9M beat estimates of $248.5M. EBITDA of $27.3M matched estimates. Sales rose 11%. Per-share income rose 73%. Canada sales rose 14% due to higher casting product and higher propulsion product revenue. US sales rose 10.3% on engines and currency moves. Europe was weaker but still rose 6.9%. Only 400 shares were bought under the company's NCIB program. Consensus calls for very good EPS growth this year and next. The balance sheet is in decent shape. The stock has been on a tear, up 96% now in one year, bringing P/E to 17X. Recent contract and JV news also looks good.