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Power Corporation of Canada Subordinate Voting Shares (POW)
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Corby Spirit and Wine Limited Unlimited Voting Common Shares (CSW.A)
Q: I believe Power and Corbys reported. Your comments please
5i Research Answer:
POW has been now posted; CSW has no analysts and thus no estimates. Q3 revenue was $48M, down 1% and down 9% organically. EBITDA was $11.7M down 10%. Earnings of $4.5M declined 20%. The declines were blamed on inventory adjustments and a return to normal volumes following a very strong 2024 comparable period. Marketing expenses also increased 4%. Net debt/obligations are about 3X cash flow. Not much excitement here but the stock is decently-priced and doing well as investors have sought safety this year. It may benefit this year from trade wars, with its Canadian products have less competition. We would be comfortable owning the stock today, largely for the divdend than growth, however.