Q: Could you comment on their record Q2 results (released on 14 May)? On 5 June, they reinitiated a share buyback which is also a good sign.
Thanks as always.
Thanks as always.
5i Research Answer:
For Q2, EPS beat estimates of $1.17 coming in at $1.34. Revenue also beat estimates of $195.96M coming in at $201.27M increasing 19% year-over-year. Operating margins continued to expand nicely. The company increased its FY2024 guidance following these results. This was a strong quarter for CGY as the company appears to have executed on revenue and margin expansion initiatives. The share buyback is an additional positive sign. Size risks are of course a factor here, but we will start to view CGY more positively if it can continue to maintain momentum from Q2.