Rallies held to stir up support for Canada Post workers across the country
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
Sherritt International Corp (SHERF) Q2 2025 Earnings Call Highlights: Navigating Challenges ...
Combined Revenue: $135.6 million, reflecting lower year-over-year performance due to decreased nickel revenue. Nickel Revenue: Declined due to a 15% decrease in average realized price and a 14% decrease in sales volumes. Cobalt Revenue: Increased with a 27% improvement in average realized price, offsetting marginally lower sales volume. Fertilizer Revenue: Lower due to timing of sales and decreased demand. Net Earnings from Continuing Operations: $10.4 million. Adjusted Net Loss from Continuing Operations: $25.6 million, excluding a $32.4 million gain from debt and equity transactions. Net Direct Cash Cost (NDCC): $5.27 per pound of nickel sold, an 8% decrease year over year. Nickel Production Guidance: Revised to 27,000 to 29,000 tons from 31,000 to 33,000 tons. Cobalt Production Guidance: Revised to 3,000 to 3,200 tons from 3,300 to 3,600 tons. Sustaining Capital Metals Guidance: Reduced from $35 million to $30 million. Tailing Facility Spending Guidance: Reduced from $40 million to $35 million. Available Liquidity in Canada: $45 million at the start of the quarter. Annualized Cost Savings: $20 million from new cost reduction measures. Warning! GuruFocus has detected 3 Warning Signs with SHERF. Release Date: July 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Sherritt International Corp (SHERF) effectively managed costs with an 8% year-over-year reduction in net direct cash costs. The company successfully closed debt and equity transactions, strengthening its capital structure and extending debt maturities. The Moa Joint Venture expansion is on track, with commissioning activities for phase two expected to complete in mid-August. Sherritt International Corp (SHERF) implemented significant cost reductions, expected to yield $20 million in annual savings. Cobalt revenue increased due to a 27% improvement in the average realized price, offsetting lower sales volumes. Negative Points Mixed sulfide production at Moa was lower than expected due to challenging operating conditions in Cuba. Nickel revenue declined year-over-year due to a 15% decrease in average realized price and a 14% decrease in sales volumes. The company revised its 2025 guidance for nickel and cobalt production downward due to operating challenges. Power production was lower due to operating in frequency control to support the Cuban National Grid and issues with a legacy gas well. Supply chain challenges and constraints in specialized labor availability contributed to increased maintenance downtime. Q & A Highlights Q: Can you elaborate on the impact of the challenging operating conditions in Cuba on your production targets? A: Leon Binedell, Executive Chairman, President and CEO, explained that the challenging conditions in Cuba, exacerbated by renewed US pressure, have led to lower mixed sulfide production at Moa. This has impacted their ability to meet production targets, prompting the formation of a task force to implement a recovery plan with Cuban partners. Q: What measures are being taken to address the low nickel price environment? A: Yasmin Gabriel, Chief Financial Officer, mentioned that Sherritt has implemented significant cost reduction measures expected to yield $20 million in annual savings. This is in addition to previous cost-saving initiatives, reflecting the company's proactive approach to managing market conditions. Q: How is the Moa Joint Venture expansion progressing? A: Elvin Saruk, COO and Head of Cuban Operations, reported that the Moa JV expansion is on track, with commissioning activities for phase two scheduled for completion in mid-August. The ramp-up is expected to commence thereafter, with increased mixed sulfide production anticipated in the fourth quarter. Q: What is the status of the power business and its impact on operations? A: Elvin Saruk noted that the Varadero facility is operating in frequency control to support the Cuban national grid, which has reduced electricity production. However, Energas is fully compensated for this reduction, and a new gas well is expected to come online in September to offset decreased gas supply. Q: How has the financial performance been affected by current market conditions? A: Yasmin Gabriel highlighted that combined revenue was lower year over year, primarily due to a decrease in nickel revenue. Despite this, the company continues to pursue cost containment and operational efficiencies to improve adjusted EBITDA and maintain liquidity. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
39 minutes ago
- Yahoo
Canada's Brookfield agrees to $3.2 billion deal for UK's Just Group
(Reuters) -Canada's Brookfield Wealth Solutions (BWS) has agreed to acquire British insurer Just Group in a 2.4 billion-pound ($3.18 billion) deal, marking a major push into the UK pension insurance market. Under the deal, Just Group shareholders will receive 220 pence per share, a 75% premium to the stock's closing price on July 30, BWS said on Thursday. The acquisition comes months after BWS, a unit spun off from Brookfield Corporation in 2021, announced plans to enter the UK pension risk transfer market. Reuters had previously exclusively reported the Canadian company's interest in Just group in October 2023. Just Group's board has backed the offer, saying the deal would provide the company access to greater financial resources and capital. ($1 = 0.7539 pounds) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
39 minutes ago
- Yahoo
Shell announces further $3.5bn in share buybacks as profits beat estimates
Shell (SHEL.L) has announced a further $3.5bn (£2.63bn) in share buybacks, as profits beat expectations in the second quarter. The Anglo-Dutch energy major reported adjusted earnings of $4.3bn, which was down 24% on the same period last year but topped expectations of $3.74bn, according to consensus estimates provided by Vara Research. Shell CEO Wael Sawan said: "Shell generated robust cash flows reflecting strong operational performance in a less favourable macro environment. We continued to deliver on our strategy by enhancing our deep-water portfolio in Nigeria and Brazil, and achieved a key milestone by shipping the first cargo from LNG Canada." "Our continued focus on performance, discipline and simplification helped deliver $3.9 billion of structural cost reductions since 2022, with the majority delivered through non-portfolio actions." He said this enabled the company to launch another $3.5bn of share buybacks for the next three months, representing its 15th consecutive quarter of at least $3bn in repurchases. Shell warned in a trading update in early July that it expected to report lower trading and production results for its gas division in the second quarter. In Thursday's results, Shell reported cash flow from operating activities of $11.9bn, which was ahead of a consensus figure of $11.4bn. The company delivered a quarterly dividend of $0.3580 per share, unchanged from the first quarter. The latest earnings come against a backdrop of cooling profits across the oil and gas sector, which had surged to record levels in 2022. The industry has since been hit by weaker crude prices, a subdued demand outlook, and geopolitical volatility — including shifting US trade policy under president Donald Trump — all of which have dented investor sentiment. Last month, Shell dismissed speculation that it was in talks to buy rival BP (BP.L), saying it had "no intention of making an offer" for the FTSE 100-listed (^FTSE) oil major. Read more: Eurozone economic growth slows to 0.1% in second quarter Should you invest in gold? Trump's trade war hasn't harmed global growth outlook yet, says IMFError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
