S&P Global revises oilsands outlook upward despite crude market volatility
That would mark a three per cent increase from S&P's previous 10-year outlook for the sector and would be the fourth upward revision in a row.
Chief Canadian oil analyst Kevin Birn says the change in trajectory, even during volatile times, reflects how producers are working to improve efficiency from existing operations.
Oilsands production is expected to hit a record 3.5 million barrels per day this year — five per cent higher than last year.
S&P forecasts output will exceed 3.9 million barrels per day by 2030, but plateau around 3.7 million barrels in 2035.
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The latest local business news and a lookahead to the coming week.
Director of crude oil markets Celina Hwang says the outlook could be dampened by export pipeline constraints, but oilsands operators have proven they can withstand such volatility.
This report by The Canadian Press was first published June 24, 2025.
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Toronto Sun
25 minutes ago
- Toronto Sun
LILLEY: Carney's canola tariff dilemma
Get the latest from Brian Lilley straight to your inbox Canola grows. Photo by Shannon VanRaes / Bloomberg When China slapped Canadian canola seed with a 75.8% tariff last week, the price immediately dropped more than $1 per bushel. While it's still trading higher now than the 10% price drop in March after China's first round of tariffs, it's still a drop farmers will feel. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account China's latest canola tariffs are in retaliation for Canada imposing 100% tariffs on Chinese-made electric vehicles and 25% tariffs on Chinese steel and aluminum. The obvious answer to getting China's tariffs lifted on Canadian canola products is to lift our tariffs on EVs, steel and aluminum. The problem is, while the idea sounds sensible and simple, it's not that easy. In many ways, Canada is stuck between two economic giants involved in their own trade war. The Americans, under then-president Joe Biden, asked Canada to impose tariffs on Chinese goods. The claim is that these products are all heavily subsidized and dumped into North America to undermine our industries, harming our workers. Recommended video Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. While these tariffs came from Biden, Trump has left the American tariffs on these products in place. Any move to drop the tariffs on Chinese goods could have the impact of the United States imposing more tariffs on Canadian exports headed south. The problem for canola farmers, and this will give them no comfort, but canola is simply a product China likes to target in any dispute with Canada. For three years, starting in 2019, China had a ban on Canadian canola. That was in response to the arrest in Vancouver of Huawei executive Meng Wanzhou at the behest of the Americans in December 2018. China would go on to also kidnap two Canadians and hold them hostage, but on trade, they hit canola. In 2017, China began to complain that Canadian canola quality wasn't high enough and they slapped tariffs on seed exports. Let's be clear: These Chinese tariffs on canola should be removed but given China's past behaviour, there is no guarantee they would reciprocate. We could end up in a scenario where we remove our tariffs on Chinese goods, the United States places tariffs on more Canadian goods and China leaves their tariffs in place. This advertisement has not loaded yet, but your article continues below. Why would they do that? In order to obtain greater concessions from the Carney government, to try and encourage them to move Canada closer to China and away from the United States. This is what I mean about being caught in the middle of a bigger trade war between China and the United States. I understand the argument that the canola industry is strong, established, worth $40 billion and employs around 200,000 people while the EV sector is just starting to get off the ground. Allowing China to dump their vehicles into Canada, charging half the price it costs to make them, would seriously injure our entire auto industry, though not just the nascent EV sector. The tariffs Canada has imposed also extend to Chinese steel and aluminum though China is dumping their product, hurting our existing and vital steel and aluminum industries. This advertisement has not loaded yet, but your article continues below. China is simply a bad player, an untrustworthy trader and a market we should try not to rely on for any of our exports. Prime Minister Mark Carney has spoken often about diversifying our markets away from the United States; we should be doing the same with China. Replacing China would be difficult, but not impossible if markets like Japan, South Korea, India and Mexico were developed. That's a long-term solution for the next time China takes aim at our canola famers. In the meantime, there is simply a frustration across the Prairies that the Carney government favours Ontario and Quebec and doesn't care about them. That isn't helped by Carney's lack of action on this file. There may not be many good options but doing nothing is likely the worst option. Toronto Blue Jays NHL Money News Sunshine Girls World
Cision Canada
25 minutes ago
- Cision Canada
SSC Security Services Corp. Reports Strong Third Quarter Results with Improved Margins, Higher Adjusted EBITDA, and Continued Share Buybacks
, Aug. 19, 2025 /CNW/ - SSC Security Services Corp. (" SSC" or the " Company") (TSXV: SECU) (OTCQX: SECUF), a national provider of cyber, physical and electronic security services to commercial, industrial and public sector clients across Canada, is pleased to release its results for the third quarter ended June 30, 2025. All figures are presented in Canadian dollars. "Our third quarter results came in as expected. We continue to see improved profitability from stronger margins as a result of our careful expense management. Gross margin has continued to strengthen, and our base business of recurring revenue continues to grow profitably. We like it when temporary contracts come in the door and they add nicely to our top line picture, however, more important is strong ongoing operational management and gross margin growth within our baseline recurring monthly revenue. As we continue to grow, we see that the size and scale of our operations nicely positions us for the temporary opportunities as they arise," said Chairman and CEO Doug Emsley. "We continue to buy back our shares and take a disciplined approach to acquisitions. Our objective is always to protect our cash and be opportunistic in our efforts to grow the Company. We continue to be well capitalised and debt free. One important point that often goes unmentioned is that, over the past several years, we've returned $55.4 million dollars to shareholders through share buybacks and dividends while consistently operating a profitable business. It's a track record we're extremely proud of," said Emsley. Key Highlights for Q3 2025: Continued Margin Improvement - Gross profit for the quarter ended June 30, 2025 was $5.3 million (gross margin of 17.5%), up from $4.7 million (15.9%) during the same quarter last year. The nine-month year-to-date gross profit is $14.6 million (16.7%), up from $14.3 million (15.8%) during the same nine-month period last year. Revenue Growth - Revenues for the quarter ended June 30, 2025 were $30.2 million compared with $29.7 million during the same three-month period last year, an increase of $0.5 million or 1.7%. Improved Adjusted EBITDA - Adjusted EBITDA for the quarter was $1.4 million ($0.08 per share), up from $1.3 million ($0.07 per share) during the same quarter last year. This represents a 14% improvement in Q3 Adjusted EBITDA over the prior year. NCIB Share Buybacks - During the quarter we bought back 140,900 shares of the Company at an average price of $2.42 per share (cancelling all 140,900 shares). 36 th Consecutive Quarterly Dividend - During the quarter we paid $0.03 per share in dividends to shareholders. We finished the quarter ended June 30, 2025 with: Cash and cash equivalents of $9.6 million equal to $0.53 per share; Working capital of $25.4 million; Total shareholders' equity of $61.8 million; and No debt. Key Performance Indicators for the comparable periods are summarized below: REVENUE, GROSS PROFIT & NET INCOME Revenues for the quarter ended June 30, 2025, were $30.2 million compared with $29.7 million during the quarter ended June 30, 2024, an increase of $0.5 million (revenue increase of 1.7%). The increase in revenues over the same period last year is attributed to internally generated organic growth. Gross profit for the quarter ended June 30, 2025 was $5.3 million (17.5% of revenue) compared to $4.7 million (15.9% of revenue) during the same quarter last year. We continue to see steady improvement in our gross profit margin percentages. These improvements are a result of the continued focus on operating efficiencies and cost reduction initiatives. Comprehensive net income for the quarter ended June 30, 2025 was $0.0 million (profit of $0.00 per share), unchanged from net income the same quarter last year of $0.0 million (profit of $0.00 per share). ADJUSTED NET INCOME & ADJUSTED EBITDA Adjusted EBITDA is the primary KPI used by the Company to measure the financial performance of the Company. Adjusted EBITDA for the quarter ended June 30, 2025, was $1.4 million ($0.08 per share), compared with the adjusted EBITDA of $1.3 million ($0.07 per share) for the prior year third quarter ended June 30, 2024 (this represents a 14.3% increase in Adjusted EBITDA per share). Adjusted net income for the quarter ended June 30, 2025 was $0.8 million (profit of $0.04 per share), compared to an adjusted net income in the same quarter last year of $0.7 million (profit of $0.04 per share). A reconciliation of earnings to adjusted net income and Adjusted EBITDA is provided in the Non-IFRS section of the MD&A published concurrently with this press release. * BALANCE SHEET Key balance sheet items are summarized below: UPDATE ON NORMAL COURSE ISSUER BID During the quarter ended June 30, 2025, we bought back 140,900 shares at an average price of $2.42 per share (same quarter last year: 116,800 shares at an average price of $2.59 per share). All shares bought back under the normal course issuer bid have been cancelled. We continue to believe that our shares have been trading in a price range which does not adequately reflect their value and that the purchase of shares under the NCIB enhances remaining shareholder value. Since 2017, the Company has cancelled nearly 48% of its outstanding shares through buybacks. OUTLOOK We are seeing continued growth in demand for the kind of innovative and cost-effective security services and solutions that we offer at SSC. Our ability to combine physical and electronic security services in a fully integrated way is the future of our industry. Additional growth may also come via acquisition, as we look to acquire other profitable companies in the Canadian security industry. Acquisitions may help us reach our growth targets more quickly, but we will not rush to complete new deals, and we will maintain our financial conservatism throughout. Most of our remaining legacy assets are expected to convert to cash over the next year. Our objective is to make these resources available for the expansion of our security business. We also plan to continue to distribute capital to shareholders via our dividend, operate with minimal to no debt while maintaining solid liquidity, focusing on maintaining strong margins, and maximizing our Adjusted EBITDA per share. ABOUT SSC SSC Security Services Corp. is a national provider of cyber, physical and electronic security services to corporate and public sector clients across Canada. For more information, please visit NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Forward Looking Statements This release includes forward-looking statements regarding SSC and its business. Such statements are based on the current expectations and views of future events of SSC's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting SSC, including risks regarding the security industry, the agricultural industry, economic factors and the equity markets generally and many other factors beyond the control of SSC. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and SSC undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. * Non-IFRS Measures SSC measures key performance metrics established by management as being key indicators of the Company's strength, using certain non-IFRS performance measures, including: EBITDA, EBITDA per share, Adjusted EBITDA, Adjusted EBITDA per share, Adjusted Net Income, Adjusted Net Income per share. The Company uses these non-IFRS measures for its own internal purposes. These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and these measures may be calculated differently by other companies. The presentation of these non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The Company provides these non-IFRS measures to enable investors and analysts to understand the underlying operating and financial performance of the Company in the same way as it is frequently evaluated by Management. Management will periodically assess these non-IFRS measures and the components thereof to ensure their continued use is beneficial to the evaluation of the underlying operating and financial performance of the Company. For more detailed information, please refer to the Company's Management Discussion and Analysis dated August 19, 2025 available on the Company's website at and on SEDAR+ at
Cision Canada
25 minutes ago
- Cision Canada
SSC Security Services Corp. Announces Thirty Sixth Dividend Payment
REGINA, SK, Aug. 19, 2025 /CNW/ - SSC Security Services Corp. (" SSC" or the " Company") (TSXV: SECU) (OTCQX: SECUF) announces that the Board of Directors has declared a cash dividend of $0.03 per common share for the quarter ending September 30, 2025, representing $0.12 per share on an annualized basis. The dividend is payable on October 15, 2025 to shareholders of record on September 30, 2025. This dividend is designated by the Corporation to be an eligible dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents. ABOUT SSC SSC Security Services Corp. is a national provider of cyber, physical and electronic security services to corporate and public sector clients across Canada. For more information, please visit NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Forward Looking Statements This release includes forward-looking statements regarding SSC and its business. Such statements are based on the current expectations and views of future events of SSC's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting SSC, including risks regarding the security industry, the agricultural industry, economic factors and the equity markets generally and many other factors beyond the control of SSC. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and SSC undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. SOURCE SSC Security Services Corp.
