Brief: Wajax Q1 SHR C$0.20

Wajax

04/05/2020 23:24

May 4 (Reuters) - Wajax Corp  WJX.TO :
    * WAJAX ANNOUNCES 2020 FIRST QUARTER RESULTS AND PROVIDES AN
UPDATE REGARDING COVID-19 RESPONSE
    * Q1 ADJUSTED EARNINGS PER SHARE C$0.29
    * Q1 EARNINGS PER SHARE C$0.20
    * Q1 REVENUE C$344.1 MILLION VERSUS REFINITIV IBES ESTIMATE
OF
C$368.9 MILLION
    * Q1 EARNINGS PER SHARE ESTIMATE C$0.43 -- REFINITIV IBES
DATA
    * WAJAX - AS AT APRIL 27, 541 EMPLOYEES PLACED ON TEMPORARY
LAYOFF
& A FURTHER 341 EMPLOYEES ON REDUCED WORK WEEKS/PARTICIPATING IN
WORKSHARE PROGRAMS
    * WAJAX - TEMPORARY SALARY REDUCTIONS IMPLEMENTED, INCLUDING
REDUCTIONS OF 20% FOR CEO, 10% FOR SENIOR EXECUTIVES AND BETWEEN
5-10% FOR MANAGERS
    * BOARD MEMBER RETAINERS HAVE BEEN TEMPORARILY REDUCED BY
20%.
    * CATEGORY REVENUE DECLINES ARE EXPECTED IN Q2 OF 2020 WHEN
COMPARED TO LAST YEAR
    * SIGNIFICANT DECLINE IN OIL PRICES HAS ALSO NEGATIVELY
AFFECTED
CORPORATION'S VOLUMES IN WESTERN CANADA IN QUARTER
    * TO DATE, NO MATERIAL DISRUPTIONS TO BRANCH NETWORK OR
SUPPLY
CHAIN HAVE OCCURRED

Source text for Eikon:  ID:nCNWlTNG6a 
Further company coverage:  WJX.TO 

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