Overview
ECN Capital Q3 adjusted EPS meets consensus at $0.06 per share
Adjusted EBITDA for Q3 beats analyst estimates
Adjusted net income for Q3 misses analyst expectations
Result Drivers
ORIGINATIONS GROWTH - Increased originations in Manufactured Housing and RV and Marine segments drove Q3 results
SALES UPGRADES - Sales upgrades in Manufactured Housing and RV and Marine segments are yielding positive results, per CEO Steven Hudson
ASSET EXPANSION - Managed assets grew to $8.2 bln from $7.6 bln in the previous quarter, indicating asset base expansion
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Meet
$0.06
$0.06 (3 Analysts)
Q3 Adjusted Net Income
Miss
$16.70 mln
$23 mln (1 Analyst)
Q3 Net Income
$11.20 mln
Q3 Adjusted EBITDA
Beat
$40.60 mln
$37.50 mln (2 Analysts)
Q3 Operating Expenses
$34 mln
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the corporate financial services peer group is "buy."
Wall Street's median 12-month price target for ECN Capital Corp is C$3.25, about 15.4% above its November 12 closing price of C$2.75
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nCNWmsgnDa
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(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.)