$DRX.TO

ADF Group Q1 Net Income Rises

ADF Group (DRX.TO) reported on Tuesday, an increase in net income and revenue in the first quarter.For the three months ended April 30, 2026, the company reported net income of $12 million or $0.42 per basic and diluted share, compared with $8.7 million or $0.30 per share, a year earlier.Revenue increased to $99.3 million in the quarter compared with $55.5 million, a year-ago.The company also reported order backlog of $645.8 million as at April 30, 2026, of which 72% is Canadian, and includes $266.5 million from Groupe LAR Inc.Shares of the company closed down 3.5% to $10.29 on Monday on the Toronto Stock Exchange.

ADF Group's CFO Jean-Francois Boursier to Retire on Dec. 31, 2026; Search For Successor Will Start In Coming Days

ADF Group's (DRX.TO) Chief Financial Officer Jean-Francois Boursier will retire on Dec. 31, 2026, after more than 16 years of service with the company, it said on Thursday.Boursier will remain in his position until that date and then, starting from Jan. 1, 2027, will serve as a strategic advisor, He will stay in that role until a date to be confirmed, to ensure a smooth leadership transition, the company added.A recruitment process will begin in the coming days, and Boursier will "actively participate" in that, the company further added."Jean-Francois ensured the strength of the Corporation's financial position and the disciplined allocation of capital by overseeing sustained investments across the business, including the construction of the plant in Great Falls, Montana, the automation of our plant in Terrebonne, Quebec, and, more recently, the acquisition of Groupe LAR in Metabetchouan, Quebec, last September," said Jean Paschini, Chairman of the Board and Chief Executive Officer.

ADF GROUP Announces Jean-Francois Boursier, Chief Financial Officer, Will Retire on Dec. 31, 2026

ADF Group Reports Lower Net Income and Revenue for Fiscal Year Ended Jan. 31, 2026

ADF Group (DRX.TO) on Thursday reported lower net income and revenue for its 2026 fiscal year, but said an order backlog increase, including Groupe LAR's inclusion, and a "more neutral breakdown of the order backlog between the U.S. and Canadian projects" places it in a "more appropriate position regarding the new tariffs reality" with the United States.ADF said net income for the fiscal year ended Jan. 31, 2026 was C$26.3 million or $0.93 per share basic and diluted, compared to $56.8 million or $1.84 per share basic and diluted last year.The company reported revenue of $258.7 million for fiscal year ended Jan. 31, 2026, compared to $339.6 million last year. It said the decrease in revenues obliged it to implement a Work-Sharing program at its Terrebonne plant during the first quarter ended April 30, 2025. It added this program has allowed the corporation to mitigate the negative impacts of the decrease in fabrication hours, but not entirely. ADF said U.S. tariffs also had an indirect negative impact on the corporation's margins, reflecting impact caused by the increase in the price of steel set by the U.S. steel mills.Gross margin, as a percentage of revenues, went from 31.6% for the fiscal year ended January 31, 2025, to 23.1% for the fiscal year ended January 31, 2026. It said this variation is in line with the decrease in revenues and is largely explained by the impact of U.S. tariffs.Among other highlights, ADF cited cash flows from operations of $49.4 million for the fiscal year; record order backlog reaching $561.1 million, 57% of which is made up of Canadian contracts; and a higher cash position even with the acquisition of Groupe LAR finalized on September 18, 2025."Although the results for the fiscal year ended January 31, 2026 are lower than the exceptional results of the previous year, we can certainly be more than satisfied with the financial and operational performances, and the acquisition of Groupe LAR that we were able to carry out successfully, " said Jean Paschini, Chairman of the Board and Chief Executive Officer."The order backlog increase, including Groupe LAR's inclusion following the acquisition finalized on September 18, 2025, as well as a more neutral breakdown of the order backlog between the U.S. and Canadian projects places ADF in a more appropriate position regarding the new tariffs reality with our neighbours to the south." added Paschini.The company also noted that, on April 15, 2026, it announced the payment of a semi-annual dividend of $0.02 per subordinate voting share and per multiple voting shares, which will be paid on May 15, 2026, to Shareholders of Record as at April 27, 2026.Shares in DRX were down $0.63 or near 5.6% at $10.71 yesterday.