Q: Please comment on the 3rd q results. Did they meet or exceed analyst expectations? I know very little about this business but business outlook sounds good, recognizing commodity prices can be all over the map.
5i Research Answer:
EPS came in at $0.24 beating estimates of $0.20. Revenue came in at $506.89M beating forecasts of $486.08M and displayed growth of 31% year-over-year. Profit more than doubled on a year-over-year basis coming in at $126.46M. The board approved the company's $470.7-million direct reduction pellet feed (DRPF) project at its Bloom Lake iron ore complex in Quebec which is expected to be in service in the second half of 2025. This is a solid quarter from CIA, nicely beating both revenue and EPS estimates and shares are up ~4% thus far on the day.