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McCoy Global Q2 Adjusted Earnings And Revenue Fall

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McCoy Global (MCB.TO) said second-quarter adjusted net earnings fell 61% year over year to C$0.07 per share, from C$0.18 per share.

Quarterly revenue declined 28% to C$17.2 million over the same period, beating the C$11 million expected by analysts polled by FactSet.

McCoy attributed the lower revenue to geopolitical instability in the Middle East and the suspension of shipping through the Strait of Hormuz. Both have delayed customer shipments and customer capital purchase decisions.

McCoy Global shares were last seen up C$0.05 at C$2.23 on the Toronto Stock Exchange.

Price: $2.23, Change: $+0.05, Percent Change: +2.29%

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