First Advantage: Q1 Earnings Snapshot
ATLANTA — ATLANTA — First Advantage Corp. (FA) on Thursday reported a loss of $41.2 million in its first quarter.
On a per-share basis, the Atlanta-based company said it had a loss of 24 cents. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 17 cents per share.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hamilton Spectator
12 minutes ago
- Hamilton Spectator
Defence spending boost can only go so far to lessen U.S. reliance: experts
MONTREAL - In early 2002, Glenn Cowan touched down in Kandahar province as part of the first wave of regular Canadian Army troops deployed to Afghanistan, serving in a U.S.-led brigade combat team. After joining Canada's elite special operations unit Joint Task Force 2 in 2003, he spent the next 13 years collaborating with American soldiers on raids, rescues and reconnaissance missions. 'If you're going to get into a fight with someone, you want the Americans on your side,' said Cowan, founder of ONE9. His Ottawa-based venture capital firm focuses on national security investments. The same might be said of the gear Canadian troops use, and the industry behind it. An infusion of fresh defence funding is poised to flood parts of Canada's aerospace, manufacturing and information technology sectors in a bid to reduce reliance on the United States, but experts say this country will remain firmly fastened to its neighbour as a military-industrial partner by necessity. While not a military powerhouse, Canada has expertise in areas ranging from flight simulation and shipbuilding to armoured vehicles and artificial intelligence. The $9.3-billion in additional defence spending announced by Prime Minister Mark Carney on Monday is poised to boost those sectors, with the goal of greater procurement from domestic companies. 'We're too reliant on the United States,' Carney said. 'We will ensure that every dollar is invested wisely, including by prioritizing made-in-Canada manufacturing and supply chains. We should no longer send three-quarters of our defence capital spending to America.' But a massive cash injection means Canada will have to scale up fast, including via foreign suppliers, said Jim Kilpatrick, in charge of global supply chain and network operations at Deloitte. 'Defence supply chains can often go 10 or 11 tiers deep,' he said, stressing their complex international reach. 'Canada will not be self-sufficient in defence products required by our military.' The country's relatively small production capacity means it will continue to shell out money on American equipment, technology and aircraft, including 88 U.S.-built F-35 fighter jets at a cost of tens of billions of dollars, experts say. However, some of that spending will go to American military giants that have a big presence on Canadian soil, even if the profits end up in pockets south of the border. General Dynamics churns out light armoured vehicles bristelling with turreted mortars and assault guns in London, Ont., as well as tactical communications systems in Ottawa. Lockheed Martin works on 'advanced technology systems' such as naval command software in five provinces. Defence contractor Raytheon counts 8,500 employees and 2,500 suppliers in Canada. 'The wider Canadian economy features a lot of branch plants,' noted David Perry, CEO of the Canadian Global Affairs Institute. While high-tech weapons and machinery come to mind at the mention of defence procurement, much of the extra funding this year may well go to more mundane items. Housing and infrastructure upgrades for Canadian troops make up some of the biggest priorities for Chief of the Defence Staff Gen. Jennie Carignan, she told Quebec radio host Patrick Lagacé on Thursday. Perry also highlighted the ripple effects of that spending for myriad business types beyond the purely military realm. 'Some of it is done through the big stuff — we think about fighter jets. But a lot of it pays for office furniture, software licenses, electricity contracts, snow removal, grass cutting.' Taking a step back, Perry framed defence investment in terms the prime minister, formerly the head of the Bank of Canada and the Bank of England, could appreciate. 'If you think of our defence relationships as an investment portfolio, the PM is saying we're way over-indexed in the Dow Jones and the S&P,' he said. 'Diversify.' This report by The Canadian Press was first published June 13, 2025.
Yahoo
an hour ago
- Yahoo
Exclusive-Ivory Coast workers say Unilever is violating their union rights amid share sale, documents show
By Richa Naidu LONDON/ABIDJAN (Reuters) -Unilever workers in Ivory Coast say the global consumer goods giant is violating their collective bargaining agreement in refusing to ensure severance pay if layoffs take place after the company sells its business there, documents show. British-based Unilever is selling all of its shares in its struggling Ivory Coast unit, which employs some 160 people, to a local consortium of investors led by wholesale distributor Société de Distribution de Toutes Marchandises Côte d'Ivoire (SDTM). Unilever Cote d'Ivoire manages the consumer giant's domestic and international brands in Ivory Coast, but SDTM will only take over Unilever's domestic brand business, according to an internal memo dated April 8. Unilever has not said how its international brands will be sold in Ivory Coast in future. Workers began staging protests at Unilever offices in Abidjan on April 25, fearing the unit's falling turnover in recent years and the loss of the international brand business will trigger layoffs after the sale, which is expected to close by June 20. Their collective bargaining agreement with Unilever, seen by Reuters, states that in the event of layoffs associated with disposing of its Ivory Coast business, Unilever will give employees severance pay equal to "one month of average gross salary per year of seniority, with a maximum of 18 months." The bargaining agreement, dated from 2004, was confirmed by management in 2007 and remains valid, according to Lex Ways lawyer Soualiho Lassomann Diomande, who represents local staff. The agreement also pledges "medical coverage for a maximum period of six months." A Unilever spokesperson did not comment on the agreement. However, in a meeting at the Labor Inspectorate in Abidjan on April 25, the head of Unilever Cote d'Ivoire, Arona Diop, stated that workers' rights and salaries would be decided by SDTM, and not regulated by the collective bargaining agreement, according to minutes of the meeting reviewed by Reuters. Unilever confirmed it was selling the Ivory Coast unit but said in a statement to Reuters: "the proposed transaction is by way of a sale of shares, which does not result in the termination of employees' contracts." "Severance pay is not therefore relevant, as employment continues," it added. Unilever's international brand portfolio has accounted for more than 60% of Unilever Cote d'Ivoire's turnover, according to three Ivory Coast employees, which totalled 34.6 billion CFA Franc in 2023. Since the share sale excludes the most important brands, job security is at risk, said Diomande. Moreover, under article 16.6 of the Ivorian Labor Code, any substantial modification of an employment contract requires the prior agreement of the employee, Diomande added. "No assurances have been given regarding job security," said a Unilever Ivory Coast employee, who did not wish to be named. CONTRAST WITH EUROPE The severance rights Unilever guaranteed under the collective bargaining agreement are a lot more generous than required under Ivory Coast labour law, according to Diomande as well as two workers interviewed by Reuters. According to the International Labor Organization's EPLex database website, workers in Ivory Coast are entitled to severance pay equal to 30% of their gross monthly wage per year for those who have worked up to five years. The percentage rises to 35% from the sixth to the 10th year and 40% for above 10 years of service. Unilever said early last year it would axe 7,500 jobs globally as part of a turnaround to save about 800 million euros ($913.12 million). Diomande said Unilever's treatment of its Ivory Coast staff contrasted sharply with how it treated staff in Europe. Last month Unilever agreed to guarantee its ice cream workers' employment terms in Europe and Britain for at least three years after the business' spin-off, Reuters reported, tripling the usual period in such deals despite no legal requirement to do so. The generous terms agreed in Europe reflect the power of local unions and strict labour laws on the continent. Workers in the Ivory Coast told Reuters they had asked Unilever to guarantee the same conditions, including severance pay, for two years, one less than what was granted to roughly 6,000 Unilever workers affected by the ice cream spin off in Europe and Britain. "Not applying the same conditions in Ivory Coast is unequal treatment and negative discrimination," Diomande said. "This is a serious injustice." ($1 = 571.0000 CFA francs) ($1 = 0.8761 euros)
Yahoo
an hour ago
- Yahoo
Canada's Dundee Precious to buy UK's Adriatic Metals in $1.25 billion deal
(Reuters) -Canada's Dundee Precious Metals will acquire UK's Adriatic Metals in a cash-and-stock deal valued at $1.25 billion, the companies said on Friday, marking the latest in a string of foreign takeovers of UK firms. The proposed transaction comes amid a growing wave of acquisitions targeting UK-based firms, with more than 30 bids exceeding 100 million pounds announced so far this year, up from 26 during the same period last year. Toronto-listed Dundee is offering 268 pence per Adriatic share in a cash-and-stock deal, consisting of 93 pence in cash and 0.1590 new Dundee shares for each Adriatic share, a 50.5% premium to Adriatic's closing price on May 19. Dundee said the combined group will strengthen operations through an "attractive production, mineral reserve and mineral resource base and a compelling metal mix." "The Vareš is a logical fit with our portfolio, and adds near-term production growth and mine life, a highly prospective land package, and cash flow diversification," Dundee CEO David Rae said in a statement. Dundee, a gold miner with operations in Bulgaria and Namibia, is acquiring London-listed Adriatic, which is currently developing the Vares silver project in Bosnia and Herzegovina.
