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The Market Online
15-05-2025
- Business
- The Market Online
Buzz on the Bullboards: Quarterly reports and company mergers
Canada's main stock index has had a dynamic week, buoyed by global trade developments and investor optimism. Monday saw a significant rally after the United States and China agreed to temporarily reduce reciprocal tariffs, easing fears of a full-scale trade war. This momentum carried into Tuesday, with the TSX edging higher despite a cooling Wall Street. By Wednesday, trading settled into a quieter rhythm as market participants digested earlier gains and awaited further trade news. What the 'Buzz' Our Bullboards have up to 2 million pageviews a day. Get the inside scoop on conversations around the most significant trends and stock appreciations in our weekly wrap up. Get 'Buzz on the Bullboards' delivered to your inbox every third Thursday! Buzz on the Bullboards | Sign Up Here This week also marks the heart of quarterly earnings season, a critical period when companies disclose their financial and operational performance. For investors, these reports offer valuable insights into corporate health and future prospects. Among the many companies reporting, three TSX-listed names have stood out. A cannabis leader on the rise Organigram Holdings Inc. (TSX:OGI, Forum), a leading licensed cannabis producer, delivered a robust Q2 fiscal 2025 earnings report, showcasing impressive growth across key financial metrics: Financial highlights Gross revenue : Soared 79% to $102.8 million. : Soared 79% to $102.8 million. Net revenue : Increased 74% to $65.6 million. : Increased 74% to $65.6 million. International revenue : Jumped 177% to $6.1 million. : Jumped 177% to $6.1 million. Adjusted gross margin : Rose to $21.9 million (33%). : Rose to $21.9 million (33%). Adjusted EBITDA : Rebounded to $4.9 million from a loss of $1.0 million. : Rebounded to $4.9 million from a loss of $1.0 million. Cash position: Strong at $83.4 million with minimal debt. Operational achievements Organigram maintains the #1 market share in Canada, leading in vapes, pre-rolls, milled flower, hash, and CBD gummies. The integration of Motif is expected to yield $15 million in annual cost synergies, exceeding initial projections. The acquisition of Collective Project Ltd. also marks a strategic entry into the cannabis beverage market across North America. Global expansion With $6.1 million in international sales this quarter, Organigram is expanding its footprint through partnerships in Germany, the U.K., and Australia, with more global opportunities on the horizon. Advancing cancer immunotherapy Oncolytics Biotech Inc. (TSX:ONC, Forum), a clinical-stage biotech firm, continues to make strides in oncology with its proprietary immunotherapy, pelareorep. Q1 2025 financial overview Cash & Equivalents : $15.3 million, supporting operations through Q3 2025. : $15.3 million, supporting operations through Q3 2025. Net Loss : Narrowed slightly to $6.7 million. : Narrowed slightly to $6.7 million. R&D Expenses : Declined to $4.1 million, reflecting lower trial costs. : Declined to $4.1 million, reflecting lower trial costs. G&A Expenses: Held steady at $3.0 million. Clinical progress The company will present new data at the ASCO Annual Meeting, highlighting pelareorep's immune-activating potential in pancreatic cancer. Updated results from the GOBLET study showed a 33% objective response rate in patients with advanced squamous cell anal carcinoma, including a complete response lasting over 15 months. Upcoming milestones Q2 2025 : Translational data from pancreatic cancer cohort. : Translational data from pancreatic cancer cohort. H1 2026: Initial efficacy results from newly diagnosed metastatic pancreatic cancer cohort. These developments position Oncolytics as a compelling biotech play with potential for breakthrough therapies in hard-to-treat cancers. A new energy powerhouse Whitecap Resources Inc. (TSX:WCP, Forum) has completed its transformative merger with Veren Inc., creating one of Canada's largest oil and gas producers. Strategic highlights Now the 7th largest oil and gas and 5th largest natural gas producer in Canada. and producer in Canada. Largest landholder in Alberta's Montney and Duvernay formations. formations. Strong presence in Saskatchewan's light oil sector. Leadership and governance The combined entity will be led by Whitecap's management team and a refreshed board of directors, blending leadership from both companies. This strategic alignment is expected to enhance operational efficiency and shareholder value. 2025 guidance Average Production : Raised to 295,000–300,000 boe/d (63% liquids). : Raised to 295,000–300,000 boe/d (63% liquids). H2 2025 Forecast : 363,000–368,000 boe/d on $1.1 billion in capex. : 363,000–368,000 boe/d on $1.1 billion in capex. Annual Capex: Approximately $2.0 billion. With a deep inventory of premium drilling opportunities and a focus on sustainable growth, Whitecap is well-positioned to deliver long-term value. A season of opportunity As earnings season unfolds, investors are reminded of the importance of staying informed and agile. Whether it's Organigram's international cannabis expansion, Oncolytics' promising cancer therapies, or Whitecap's energy sector consolidation, these TSX-listed companies exemplify the diverse opportunities available in Canada's capital markets. Now is the time to dig deeper, analyze performance trends, and align your portfolio with the evolving market landscape. For previous editions of Buzz on the Bullboards, click here. Join the discussion: Find out what everybody's saying about these stock on Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
The Market Online
01-05-2025
- Business
- The Market Online
Buzz on the Bullboards: The 100-day checkup
This week, Canada witnessed a significant political shift as the Liberal Party made a Holyfield-esque comeback in the parliamentary elections, securing 168 seats. Although they fell short of the 172 seats needed for an outright majority, the victory marks a notable achievement for the party and its leader, Mark Carney. Carney, who is the first to lead two G7 central banks, is expected to quickly gain international credibility due to his extensive experience, according to experts. What the 'Buzz' Our Bullboards have up to 2 million pageviews a day. Get the inside scoop on conversations around the most significant trends and stock appreciations in our weekly wrap up. Get 'Buzz on the Bullboards' delivered to your inbox every Thursday! Buzz on the Bullboards | Sign Up Here Carney has pledged a firm stance against Washington's import tariffs and emphasized that Canada would need to invest billions to reduce its dependence on the U.S. This comes at a crucial time as data revealed that the Canadian economy contracted throughout Q1 2025, coinciding with U.S. President Donald Trump's first 100 days of his second term in office. Trump Media and Technology Group Corp. (NASDAQ:DJT, Forum) has been making headlines for its poor performance, with its stock plummeting 28.04 per cent since the beginning of the year. This week, the company published a letter to shareholders, not explaining its poor performance, but rather defending its products and criticizing the 'legacy media's customary blizzard of fake news, undisguised propaganda, and manufactured hysteria about both our company and President Trump.' The letter also talked about how Trump warned that Americans can expect to find store shelves empty sooner than later. Just kidding, it obviously didn't. The U.S. imposed, then delayed, a 10 per cent tariff on Canadian energy imports in February 2025, targeting crude oil and natural gas. Despite these challenges, Canadian energy stock Whitecap Resources Inc. (TSX:WCP, Forum) reported strong operating and unaudited financial results for the three months ended March 31, 2025. Whitecap's production averaged 179,051 boe/d, including 115,932 bbl/d of total liquids and 378,715 mcf/d of natural gas. This production was over 6,000 boe/d higher than their internal forecast due to strong production from new wells and better-than-expected base production. Key highlights from Whitecap's first quarter include: Production growth : Production increased by 6 per cent compared to Q1 2024, with stronger-than-expected volumes from both unconventional and conventional assets. : Production increased by 6 per cent compared to Q1 2024, with stronger-than-expected volumes from both unconventional and conventional assets. Funds flow : First quarter funds flow of $446 million ($0.75 per share) was 17% higher on a per share basis than Q1 2024 and 7% higher than Q4 2024. Free funds flow totaled $48 million after capital investments of $398 million. : First quarter funds flow of $446 million ($0.75 per share) was 17% higher on a per share basis than Q1 2024 and 7% higher than Q4 2024. Free funds flow totaled $48 million after capital investments of $398 million. Return of capital : $107 million ($0.1824 per share) was returned to shareholders in base dividends, with an annual base dividend of $0.73 per share. : $107 million ($0.1824 per share) was returned to shareholders in base dividends, with an annual base dividend of $0.73 per share. Balance sheet: Net debt of $987 million at the end of Q1 equates to a net debt to annualized funds flow ratio of 0.6 times, with significant available liquidity on their credit facility. Another industry in focus is healthcare, which PM Carney pledged to protect in the face of the Trump Administration, saying we have relied on health cards, not credit cards, for our healthcare. Theralase Technologies (TSXV:TLT, Forum), a healthcare stock focused on treating select cancers, bacteria, and viruses, recently discovered that its lead drug candidate, Ruvidar, has the potential to inhibit deubiquitinating enzymes (DUBs), which are linked to certain cancers and neurodegenerative diseases. Ruvidar has been shown to induce oxidative stress in cancer cells through the production of Reactive Oxygen Species, facilitating their destruction without affecting healthy cells. The drug, alone and/or in combination with Transferrin to produce the compound Rutherrin, has delivered promising results against bladder cancer, lung cancer, and various viruses, including recent breakthroughs in the treatment of herpes. According to this week's news release, DUBs cause cellular damage by removing ubiquitin or ubiquitin-like molecules from target proteins, which play an essential role in regulating gene expression, DNA repair, cytokine signaling, cell metabolism, cell cycle, and cell death. Theralase's study aims to build upon recent evidence that the alteration of DUBs is a key cause behind cancer drug resistance. Keep an eye on this stock and you can find out more on the latest episode of Stockhouse's newest podcast, 'The Five-Minute Investor', which will feature more on Theralase on the next episode. Stay tuned! After reading this, investors ought to deepen their due diligence into these news-making stocks to ensure their portfolios are up to date. The political and economic landscape is rapidly evolving, and staying informed about key developments can provide valuable insights for making strategic investment decisions. For previous editions of Buzz on the Bullboards, click here. Join the discussion: Find out what everybody's saying about these stock on Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here. (Top image via Global News on Twitter / X.)
The Market Online
24-04-2025
- Business
- The Market Online
Buzz on the Bullboards: Quarterly success stories and struggles
Equities in Toronto experienced growth this week, driven by gains in technology shares. Investors reacted positively to U.S. President Donald Trump's assurance that he would not dismiss Federal Reserve Chairman Jerome Powell. This stability in the U.S. financial leadership provided a boost to market confidence, leading to a favourable environment for investments. Whitecap Resources (TSX:WCP, Forum) reported its financial results for the three months ended March 31, 2025. The company achieved a production of 179,051 boe/d during Q1 2025, marking a 1.3 per cent increase compared to the prior quarter and setting a record production number. The oil price was slightly higher in Q1 2025 compared to Q4 2024 in most markets, and a weaker Canadian dollar likely contributed positively. The realized natural gas price and NGL price for Whitecap saw significant increases, up 52 per cent and 11 per cent respectively. This resulted in a total realized price of C$58.5/boe in Q1, up 2.7 per cent compared to the prior quarter. What the 'Buzz' Our Bullboards have up to 2 million pageviews a day. Get the inside scoop on conversations around the most significant trends and stock appreciations in our weekly wrap up. Get 'Buzz on the Bullboards' delivered to your inbox every Thursday! Buzz on the Bullboards | Sign Up Here Whitecap Resources' recent acquisition of Veren (TSX:VRN, Forum) is set to create a larger company with a production of around 370,000 boe/d, warranting a premium valuation. The acquisition, expected to close in mid-May, will result in Veren shareholders owning 52 per cent and Whitecap shareholders owning 48 per cent of the combined entity. The long-term growth in production and production per share has been impressive for Whitecap over the last few years, and both metrics are expected to increase further once the merger closes. Aecon Group (TSX:ARE, Forum) reported results for Q1 2025, with revenue for the three months ended March 31, 2025, totaling $1,062 million. This represents a $215 million, or 25 per cent, increase compared to the same period in 2024. Revenue was higher in the Construction segment by $214 million, driven by increases in nuclear ($125 million), industrial ($65 million), utilities ($15 million), and civil operations ($11 million), partially offset by lower revenue in urban transportation solutions ($2 million). The higher revenue was primarily due to increased refurbishment work at nuclear generating stations in Ontario and the U.S., and a higher volume of field construction work at industrial facilities in western Canada. Despite the revenue growth, Aecon reported an operating loss of $40.7 million for Q1 2025, which was unfavourable by $36.5 million compared to an operating loss of $4.2 million in the same period in 2024. The decline was driven by a decrease in gross profit of $21.0 million. However, Aecon's backlog reached a record $9.7 billion at the end of Q1 2025, indicating strong demand for its services across Canada and select U.S. and international markets. Aecon's strategic acquisitions completed in the second half of 2024, along with its strong bid pipeline, are expected to drive revenue growth in 2025. The company is focused on delivering several significant long-term progressive design-build projects and has recently reached commercial close on the Scarborough Subway Extension project. Aecon's disciplined capital allocation approach aims to enhance long-term shareholder value through acquisitions, organic growth, dividends, capital investments, and share buybacks. Well Health Technologies (TSX:WELL, Forum) released its results for Q4 and the full year 2024. The company achieved annual revenue of $919.7 million in 2024, an increase of 19 per cent compared to the prior year. Revenue was negatively impacted by a delay in the recognition of revenue for Circle Medical amounting to $56.6 million and uncertainty of $24.5 million by CRH due to the Change Healthcare cyberattack. Excluding these impacts, Well was on track to achieve record revenue of $1.0 billion in 2024, an increase of 29 per cent compared to the prior year. Well achieved record Free Cash Flow Attributable to Shareholders (FCFA2S) in 2024 of $49.3 million, representing an increase of ~16 per cent compared to $42.4 million in 2023. Adjusted EBITDA for 2024 was $46.7 million, compared to $113.4 million in 2023. Excluding the impacts from Circle Medical and CRH matters, Wellwas on track to achieve adjusted EBITDA of $127 million for 2024, an increase of 12 per cent compared to the prior year. Looking ahead, Well provides a positive outlook for 2025 with annual guidance for revenue between $1.40 billion to $1.45 billion and adjusted EBITDA in the range of $190 million to $210 million. This guidance reflects 100 per cent consolidation of HealWell as per IFRS control requirements and assumes that substantially all of the deferred Circle Medical revenue will be recognized in 2025. The guidance does not include any contribution from the delayed earnings of CRH related to the cyberattack until further collections occur and the matter is settled with Change Healthcare. Investors are encouraged to deepen their due diligence into these news-making stocks to keep their portfolios up to date. Whitecap Resources, Aecon Group, and Well Health Technologies have all reported significant developments and financial results that could impact their future performance. Staying informed and analyzing these companies' strategic moves and market conditions can help investors make more informed decisions. For previous editions of Buzz on the Bullboards, click here. Join the discussion: Find out what everybody's saying about these stock on Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here. (Top image generated with AI.)
