Q: Hello, can you please share your views on the most recent quarter. thanks
5i Research Answer:
Revenue of $78.48M matched estimates. Cash flow per share was flat at 6.2c. Same-store revenue growth was 1.6%, impacted by lower hosuing sales/renovations. The company also noted 'slower population growth' but this is somewhat confusing considering Canada's growth in that area. Total revenue rose 4.3%. Net operating income was $54M, up 2.7%. The dividend was increased (previously announced). It now has 249 locations. The stock is down 20% YTD, as growth has very much slowed vs prior years. It saw a couple of broker downgrades last week. Not a disaster quarter, but certainly it is moving into a slower growth period. Debt remains high and another net loss (7c per share) is expected in 2025, based on consensus.