Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
MTY Food Group Inc. (MTY-T) reported first-quarter revenue increased 41 per cent, from $107.3-million to $150.8-million, mainly due to the contribution from acquisitions. Analysts were expecting revenue of $124.3-million.
Consolidated same-store sales grew 2.1 per cent.
Net income attributable to shareholders increased to $19-million or 76 cents per share as compared to $14.7-million or 58 cents for the same period last year.
Analysts were expecting earnings of 81 cents.
“While the impact of the COVID-19 pandemic had minimal impact on our first-quarter results, we expect at least the next two quarters to be negatively impacted,” stated CEO Eric Lefebvre.
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Pason Systems Inc. (PSI-T) announced first-quarter revenue of $74-million, a decrease of 10 per cent from the same period in 2019.
Net income of $16.9-million or 20 cents per share compared to net income of $19-million or 22 cents per share a year ago. "The drop in U.S. industry activity, combined with the company's fixed cost structure, led to a drop in net income," the company stated.
Analysts were expecting revenue of $71.8-million and earnings of 16 cents.
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Stelco Holdings Inc. (STLC-T) announces that its wholly-owned subsidiary, Stelco Inc. has entered into a new eight-year pellet sale and purchase agreement with United States Steel Corp (X-N), which runs until Jan. 31, 2028.
The company said the contract provides for the supply of 100 per cent of Stelco's anticipated requirements of iron ore pellets at Lake Erie Works over the term of the agreement, "including volume required to support the expansion in production projected after the upcoming blast furnace upgrade project."
The pellet agreement supersedes and replaces the current agreement with U.S. Steel, which was set to expire on January 31, 2022.
"This transaction represents a major milestone for Stelco as it secures a long-term supply of high-quality iron ore pellets and a highly valuable future option to acquire a 25-per-cent ownership interest in the Minntac Mine, one of, if not the, best assets on the iron range," said Alan Kestenbaum, Stelco's CEO.
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Pretium Resources Inc. (PVG-T) reported first-quarter revenue of US$126.6-million, compared to revenue of US$103.1-million in the first quarter of 2019.
Net earnings were US$6.2-million or 3 cents US per share compared to US$4.2-million or 2 cents US in the first quarter 2019 "with the increase primarily a result of higher gold prices, a decrease in loss on financial instruments at fair value offset by an increase depreciation and depletion expense and deferred income tax expense," the company said.
Adjusted earnings were US$25.9-million or 14 US cents in the first quarter compared to US$16.5 -million or 9 US cents in the first quarter of 2019. Analysts were expecting adjusted earnings of 15 US cents.
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Eldorado Gold Corp. (ELD-T) reported first-quarter revenue of US$204.7-million versus US$80-million a year earlier. Its net loss was US$4.9-million or 3 cents US per share versus a loss of US$27-million or 17 cents US per share a year ago.
Analysts were expecting revenue of US$207.5-million and earnings of 17 cents US.
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Bird Construction Inc. (BDT-T) announced it has been awarded the Eric Hamber Secondary School replacement project in Vancouver for approximately $92-million, under a design-build contract.
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