Canada's Mattr Q2 results rises 23%, beating estimates on wire and cable growth
Canada's Mattr Q2 results rises 23%, beating estimates on wire and cable growth
Overview
Canada materials technology firm's Q2 revenue rose 23% yr/yr, beating analyst expectations
Adjusted EPS for Q2 beat analyst expectations, rising to C$0.39 from C$0.12 yr/yr
Company cites strong demand and operational efficiency as drivers of quarterly growth
Outlook
Mattr raises full-year 2026 revenue and Adjusted EBITDA outlook versus prior update
Company expects 2026 revenue and Adjusted EBITDA to exceed 2025, with H2 revenue slightly above H1
Mattr expects Q3 2026 Adjusted EBITDA to be similar to Q2, with normal seasonal slowing in Q4
Result Drivers
CONNECTION TECHNOLOGIES GROWTH - Higher sales volumes and a more favourable sales mix in wire and cable businesses, driven by demand in North American data center, infrastructure, industrial, and Canadian mining markets
COMPOSITE TECHNOLOGIES DEMAND - Record sales for Xerxes, improved pricing, and strong demand in fuel, water, and infrastructure markets, along with international project activity for Flexpipe
OPERATIONAL EFFICIENCY - Improved manufacturing cost efficiencies and absence of prior-year modernization, expansion, and optimization costs supported margin growth
Company press release: ID:nGNX1tjLHj
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | C$396.20 mln | C$376.49 mln (7 Analysts) |
Q2 Adjusted EPS | Beat | C$0.39 | C$0.34 (5 Analysts) |
Q2 Net Income |
| C$19.80 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Mattr Corp is C$22.00, about 17.1% above its August 11 closing price of C$18.78
Reuters Recommended Reads
Aug 11 - Canada's Neo Performance Materials Q2 revenue beats on strong demand, pricing
Aug 12 - Coherent Q4 revenue beats estimates on high demand in datacenter and communications
Aug 10 - Geodrill Q2 revenue rises to record on exploration demand
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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.)