Q: What’s your view after earnings?
5i Research Answer:
Loss of 5c per share compares to estimates of (nil). Revenue of $40.2M missed estimates of $47.6M. EBITDA of $5.5M also missed estimates. New originations were $503.1M. The quarter was difficult and a challenge. ECN states though ' we have substantially resolved the challenges that affected performance last year'. This of course remains to be seen in 2024 results. There is new leadership at two divisions and the CFO is stepping down March 31. This adds some more uncertainty. Managed assets rose slightly to $4.9 billion. Not overly impressive here, and the stock may continue to struggle.