Canada's Calian Q3 profit beats on higher space, defence offerings demand
Canada's Calian Q3 profit beats on higher space, defence offerings demand
Overview
Canada mission-critical solutions provider's Q3 revenue grew 20% yr/yr, beating analyst expectations
Adjusted EPS for Q3 beat analyst expectations
Company entered agreement to acquire Galaxy Broadband and secured 15-year British Army contract
Outlook
Calian did not provide specific financial guidance for the current or upcoming periods
Result Drivers
SPACE & DEFENCE DEMAND - Co said strong and sustained demand for space and defence offerings drove organic revenue growth
ACQUISITIONS - Co said acquisitions contributed 4% to Q3 revenue growth
REVENUE MIX - Gross profit increased 17%, driven by revenue growth, changes in revenue mix and contributions from acquisitions
Company press release: ID:nGNX1QmfqV
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | C$230 mln | C$215.37 mln (8 Analysts) |
Q3 Adjusted EPS | Beat | C$1.10 | C$0.82 (6 Analysts) |
Q3 EPS |
| C$0.51 |
|
Q3 Net Income |
| C$5.90 mln |
|
Q3 Adjusted EBITDA |
| C$26 mln |
|
Q3 Gross Profit |
| C$78 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the business support services peer group is "buy"
Wall Street's median 12-month price target for Calian Group Ltd is C$99.25, about 16.3% above its August 12 closing price of C$85.33
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 16 three months ago
Reuters Recommended Reads
Aug 12 - Canada's CAE Q1 adjusted EPS beats estimates on defense segment strength
Aug 11 - Canada's Exchange Income Q2 results beat estimates on aerospace growth, acquisitions
Aug 12 - TKMS sees increased demand from Middle East following Iran war
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on Calian
See all newsBrief: Calian Completes Sale Of U.S. Commercial It Business To Trace3
Brief: Calian Completes Acquisition Of Galaxy Broadband
Canada Research Roundup: Bird Construction, Magellan Aerospace Corporation, Terravest Industries
Canada's Calian Q3 profit beats on higher space, defence offerings demand
Brief: Calian UK Secures CAD$296 Million, 15-Year British Army Training Agreement