Investment Q&A

Q: Thanks for quick response to my earlier question on earnings. Can you add comments after the earnings call?

Q: How would you digest SHOP earnings? How did they do on key metrics? What do you see happening to stock going forward over the next 6 months and longer? Is the story still intact and moving in the right direction?

Q: Hi Peter and Team,

SHOP shows in their previous Quarterly release that they have grown free cash flow (good stuff!) but when I look at cash balances, I see they have a reduction in cash and equivalents with a simultaneous increase in "Loans and merchant advances, net."

I am trying to decipher if SHOP is:
1. Actually adding cash (key indicator of health)
2. Vendor financing their customers heavily which ended very badly for the likes of GE.

Is the quality of SHOP's financials showing some cracks here? It seems like this vendor financing theme is taking off in the "tech" stocks.

Q: What is your opinion on outlook for Celestica. Thanks.

Q: Good Morning
According to the information provided by my broker, the CEO of ATD has reduced the number of common shares held from about 970,000 shares to just over 300,000 in January 2024.
Do you view this as significant ?
Thank you as always for your insight.

Q: What are the expectations for next quarter? What will trigger a definitively positif development?

Thanks

Q: KXS shares are basically flat over that past four years. Yet the company continues to grow nicely quarter after quarter and the balance sheet is strong. So the fundamentals look really good. This would imply major valuation compression. Can you please comment on the valuation four years ago compared to today? How does the current valuation compare to their industry and software sector?

Thanks.

Q: I like the fact that the 5i team discloses your team members US holdings when answering a question. Looking at a large majority of the names performance they are very successful in the returns they produced. Have you tracked your performance at a portfolio level of your holdings in the US against the CDN Balanced and Growth portfolio? Seems like there might be some significant returns to be made in the US based on your holdings. I know 5i does not plan to run a US portfolio for its members but was wondering if you can create a section "Current 5i US Holdings" so we can have a consolidated list? Looking for more alpha to supplement the CDN portfolios as we are all here to grow our wealth so the more we win as community the better.

Q: Hi 5i - which of these companies would you prefer for a 10 year hold? I own ATZ and thinking of switching to PBH.

Thanks, Neil

Q: Thoughts on the quarter [lease?

Thx

Q: Good Evening
I am a long time holder of Premium Brands, have always liked its prospects but have grown impatient with the stagnation in stock price. Considering a move to Hammond but wonder if I have missed out on the run up in price. Would you endorse the switch or have another suggestion. When I have made these types of decisions in the past many times patience would have been the best move.
Thank you

Q: On Sept 28,2023 Chris White did a blog post titled " Enbridge (ENB) Makes a Major Move in the US Gas Market".
Did this transaction go through? And if so how is it working out? If not why not?
Thanks
John

Q: You may want to wait and provide a reply after the earnings call in the morning. What are your views on earnings? Did TFII break it's losing streak of earnings? How do things look going forward? Is there impetus for the stock to move up in 2024? All things being equal, what is your guess on what the stock will be a year from now?

Q: Hi guys,

Please comment on tfii results.

Thanks

Jim

Q: After reading your response to earnings, I was surprised by the sell off. Things looked pretty good but I guess the market wants more, and quicker. What's your take on things after the sell off? Was the size of it justified? Buy, hold or sell?

Q: Hi Team,
I haven't seen any comments regarding Bn earnings yet. How did the quarter and guidance look to you? Would you be buying at today's levels? Thanks

Shane.

Q: I have held both of these stocks for a long time but beginning to feel that they will not be doing much for a while. Can you see either returning to growth this year?
Thank You
Peter

Q: Do you have a preference between BYD and ATS today?

Q: HI Guys

I know you were asked a recent question about Arcadian Timber but Just wanted some clarity. On the recent question you said " In the last year, ADN saw it's price see a slight drawdown, but total return was up by 3%. ADN continues to be a solid dividend payer with a yield of 7.14% while payout ratio is quite good at 37.36%. "

Today with their earning report they stated the dividend payout ratio for the year ending December 2023 was 132%, but 99% with the DRIP. and "Adjusted EBITDA for the year was $20.6 million, compared to $18.2 million in 2022. Acadian generated $15.0 million of Free Cash Flow during the year, compared to $12.2 million in 2022, and declared dividends of $19.8 million or $1.16 per share to our shareholders. Acadian's balance sheet remains solid with $14.8 million of net liquidity as at December 31, 2023, which includes funds available under our credit facilities."

So just wondering about how much extra funds they generate/accumulate beyond the dividend and the security of the dividend going forward. Aren't they at a level that is somewhat worrying if there was a further downturn in the lumber industry?

By the way I am a long time holder of this stock.

Thanks so much

Stuart

Q: any particular reason for the recent run up in Shopify?