Canada's Reko Q3 sales rise on stronger project activity
Canada's Reko Q3 sales rise on stronger project activity
Overview
Canada manufacturing firm's fiscal Q3 sales rose 29% yr/yr on stronger project activity
Adjusted EPS for fiscal Q3 rose 18% yr/yr to $0.13
Company repurchased and cancelled 1,900 shares under normal course issuer bid
Outlook
Company says geopolitical and economic uncertainty continues to create market challenges
Reko says it remains focused on operational execution and strengthening customer relationships
Result Drivers
PROJECT ACTIVITY - Co said higher sales were driven by stronger project activity, improved volumes, and more projects reaching later stages of completion
COST MANAGEMENT - Selling and administrative expenses fell due to the absence of prior year restructuring and settlement costs, and ongoing cost management initiatives
GROSS MARGIN PRESSURE - Gross margin declined due to project mix with higher material content and increased labour costs
Company press release: ID:nBw64nmpNa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Gross Margin |
| 14.3% |
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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.)