4 stories mentioning KBL.TOUpdated 45d ago
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K-Bro Linen (KBL.TO) is renewing its normal course issuer bid (NCIB) to buy back up to 1.23 million shares, the company said on Friday.The NCIB will run from May 12, for one year, a statement said.K-Bro shares closed down $1.52 to $39.98 on Thursday on the Toronto Stock Exchange.
K-Bro Linen (KBL.TO)on reported a 35% year-over-year jump in first-quarter adjusted earnings, driven by higher revenue, and topped analysts' expectations.For the three months ended March 31, 2026, adjusted earnings, excluding most one-time items, rose to C$4.6 million, or $0.36 per share, from C$3.4 million, or $0.33, a year earlier. The result beat the FactSet consensus estimate of $0.03 per share.Revenue for the quarter rose 53% to $139.1 million from $91 million a year-ago, beating a consensus estimate compiled by FactSet of $126.4 million. Healthcare revenue increased to $84.7 million from $50.6 million in Q1 2025, or by 67.4%. While hospitality revenue increased to $54.4 million in the first quarter compared to $40.4 million in the same period last year.For fiscal 2026, the company's planned capital spending excluding right-of-use assets is expected to be in the range of $20.0 million to $22.0 million on a consolidated basis."We're delighted to report our eighth consecutive quarter of record results, highlighting the benefits of our strategic national platforms in both Canada and the UK. Our Stellar Mayan integration is progressing as expected, and we continue to anticipate run-rate cost synergies will be realized over the twelve to twenty four months guided. As always, we are focused on delivering industry-leading service and being dependable partners to our customers," chief executive Linda McCurdy said,Shares of the company closed unchanged at $39.00 on the Toronto Stock Exchange.
K-Bro Linen (KBL.TO) board chair Michael Percy will be retiring and will not seek re-election at the annual general meeting on June 3, the company said on Friday.Percy has served as a director since 2015.K-Bro is seeking an additional director to serve on the board and has identified several candidates with relevant industry experience.K-Bro Linen shares closed up $0.26, to $37.91, on Thursday on the Toronto Stock Exchange.
