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  5. ECN: Hi there, Can you please comment on ECN earnings report yesterday and your thoughts on future progress? [ECN Capital Corp.]
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Q: Hi there,

Can you please comment on ECN earnings report yesterday and your thoughts on future progress?

Thank you
Asked by Robert on August 08, 2024
5i Research Answer:

EPS of 3c beat estimates of 2.5c; revenue of $58M beat estimates of $53.7M. CIBC raised its target to $2.25 from $2.00. New originations were $622.5M. EBITDA was $31.5M vs $29M estimated. 2024 guidance was maintained. Managed assets were $5.3B, up sequentially and up from $4.7B year over year. We would consider it a pretty good quarter. Lower interest rates should help the growth rate here. It is surviving, but not yet prospering. 

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