Canada's Mullen Group beats Q1 adjusted profit expectations on logistics & warehousing strength

Mullen

23/04/2026 11:14

Overview

Canada logistics provider's Q1 revenue rose 10%, slightly missing analyst expectations

Adjusted EPS and adjusted net income for Q1 beat analyst expectations

Revenue growth driven by acquisitions, while organic revenue from existing units declined

Outlook

Company says demand is steady and supply is tightening in trucking and logistics sectors

Mullen Group sees potential for improved pricing if current market trends continue

Company expects acquisitions to continue driving growth until major infrastructure projects begin

Result Drivers

ACQUISITIONS - Co said acquisitions, especially Cole Group, were the main driver of revenue and operating income growth in Q1

SEGMENT PERFORMANCE VARIATION - Revenue and profit gains in Logistics & Warehousing and U.S. & International Logistics segments were offset by declines in Less-Than-Truckload and Specialized & Industrial Services, due to demarketing, weather, and lack of repeat projects

COST PRESSURES AND WEATHER IMPACT - Co cited increased cost pressures and challenging winter road conditions as factors affecting results in some segments

Company press release: ID:nGNX3S03mQ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Miss*
C$547.70 mln
C$549.07 mln (7 Analysts)
Q1 Adjusted EPS
Beat
C$0.20
C$0.19 (7 Analysts)
Q1 Adjusted Net Income
Beat
C$19.30 mln
C$18.16 mln (5 Analysts)
Q1 Net Income
C$21 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the ground freight & logistics peer group is "buy"

Wall Street's median 12-month price target for Mullen Group Ltd is C$19.00, about 4.4% above its April 22 closing price of C$18.20

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

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.)