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Mining & Metals
The Caldwell Partners International Appoints Alex Langridge as Partner in its Financial Services Practice
The Caldwell Partners International (CWL.TO) appointed Alex Langridge as a Partner in its Financial Services Practice in London, it said on Thursday.Langridge, who has more than 20 years of executive search and leadership advisory experience, most recently led the financial services practice at a leadership advisory firm focused on banking, fintech, insurance, and investor-backed businesses, it said.Shares of the company closed down 1.2% to $0.86 on the Toronto Stock Exchange.
$CWL.TO
Mining & Metals
BRP up 10.5% in U.S. Pre-Market as Reports Strong Q1 Normalized Earnings, Revenue Beat
BRP (DOO.TO), up 10.5% in U.S. pre-market trading on last look, said on Thursday that first-quarter adjusted earnings surged as revenue jumped 30%. The company also revised its full year guidance.The leisure craft manufacturer said normalized net earnings, stripped of most one-time items, for the quarter ended April 30, surged near 290% to $134.5 million, or $1.83 per diluted normalized share, from $34.6 million, or $0.47 per share. Analysts polled by FactSet had expected $1.15 per share.Revenue climbed 29.5% to $2.4 billion, driven by higher off road vehicles (ORV) and personal watercraft (PWC) shipments, and favourable ORV product mix, due to the introduction of new models. Analysts had expected revenue of $2.1 billion.The company also updated its fiscal 2027 guidance to include incremental tariff costs net of mitigation measures. Total company revenue is now forecast to range between $9.1 billion to $9.4 billion, and normalized diluted earnings per share is expected to be between $3.00 to $3.50.For its fiscal second-quarter, BRP is guiding to normalized diluted earnings per share to be down $1.60 to $1.65 versus the same three-month period last year. The decline results from the net impact of tariffs, the timing of PWC shipments and higher tax incentives last year.BRP will pay a regular quarterly dividend of $0.25 per share on July 14, to shareholders of recordon June 30."We delivered Q1 financial results above expectations, driven by higher volumes, disciplined cost management, strong overall execution and a more favourable promotional environment. We also sustained our solid retail momentum across key ORV segments, as new product introductions in the second half of last year contributed to additional market share gains," said chief executive Denis Le Vot."As tariff policies shifted significantly during the quarter, our teams moved quickly to define mitigation measures to reduce their impact. Looking ahead, we are focused on navigating these headwinds while also protecting our long-term growth prospects. Although the geopolitical and trade environment remains volatile, we are issuing a revised full-year guidance that incorporates both positive trends in our business and net tariff costs," Le Vot added.BRP shares were last seen up US$6.08, to US$64.11 in New York trading.
$DOO.TO
Mining & Metals
Calfrac Well Services Secures TSX Approval to Launch Normal Course Issuer Bid
Calfrac Well Services (CFW.TO) has received approval from the Toronto Stock Exchange to commence a normal course issuer bid, the company said Thursday.Under the NCIB, Calfrac may purchase for cancellation up to 5,023,580 common shares, or about 5% of its issued and outstanding common shares.Purchases under the NCIB may commence on or about June 1, 2026, and will terminate on or about May 31, 2027, or earlier.Calfrac believes that the market price of its shares does not fully reflect the underlying value of its business and future prospects and the NCIB provides the company with the flexibility to pursue share repurchases while maintaining its focus on debt repayment and capital investment.Shares in Calfrac were up 2.1% yesterday despite losses for the broader market.
$CFW.TO