Latest news with #LCF
CBC
3 days ago
- Business
- CBC
New London-based project to provide jobs to people with criminal records
Social Sharing A new pilot project is starting in London to help break down barriers to finding employment for people with criminal records. The Fair Chances Employment Pipeline Project was started by the London-area branch of the John Howard Society (JHS) in partnership with Goodwill Industries, which will be employing the project's participants. "We found that so many people with criminal records are really struggling," Taghrid Hussain, the executive director of JHS London, said. "They really have difficulty finding employment, and keeping meaningful employment, as well." The pilot project is funded though a Community Vitality Grant from the London Community Foundation (LCF). With donations from families, individuals and businesses, the LCF disperses yearly grants to fund projects that meet community needs. LCF often funds pilot projects like this when there's a potential to make a difference, said Lori Runciman, the foundation's grants director. This year, the foundation is providing $1.5 million in grants to nine different projects, including this one. A 2024 report from JHS found that Canadian employers have, by and large, excluded qualified applicants with criminal records, regardless of the severity of the offence. This is harmful, according to Hussain, as meaningful employment offers a sense of agency and belonging, as well as an effective barrier against homelessness, addiction and getting stuck in the "revolving door of crime." Through the Fair Chances Project, JHS will refer 30 people with criminal records to Goodwill for job training and onboarding. Then, upon successful completion of training, Goodwill will offer them a job in one of their stores, cafes or warehouses. JHS will be providing individualized support to the participants throughout the process and, after 18 months, they plan to interview all participants and put together a final report on the results. "The idea is to encourage other employers to do the same thing, to start thinking about giving an opportunity to individuals who are justice-involved," Hussain said. Goodwill has the capacity to help in that goal with its 26 retail stores, 44 donation centres as well as career centres, cafes and warehouses across the province, said Jessica Justrabo, director of strategic partnerships and community impact at Goodwill Industries. "We're really excited to continue our support for this model because it's what we do best and we came together to really make sure that we are improving outcomes and improving lives in our communities." Goodwill has already worked with JHS over the years and employed people with criminal records, Justrabo said, but this project was an opportunity to formalize their partnership. Beyond just employment, further support will be also available to participants such as employment counselling and skills development to help them either move up within Goodwill or move on to other careers. The project will hopefully be transformative for many, Justrabo said, but she recognizes that it may not work out for every participant. This is something they are prepared to handle on a case-by-case basis and it would not mean the end of their support. "Everyone's journey is different," she said. "So if they would like to return to the program, if they need a little extra stabilization, if they need a referral to another organization, we're happy to follow and support individuals as their journey unfolds."
Business Wire
26-06-2025
- Business
- Business Wire
Latino Community Foundation Surpasses $7 Million in Grantmaking This Year with New Investments in Grassroots Power Building
SAN FRANCISCO--(BUSINESS WIRE)--The Latino Community Foundation (LCF) has announced $3.4 million in new strategic grants this quarter—bringing its total grantmaking in 2025 to over $7.4 million, the highest in the Foundation's history. This groundbreaking achievement reflects LCF's deep and ongoing commitment to building long-term civic and economic power in Latino communities. LCF's new grants support Latino-led grassroots organizations tackling the most urgent issues head-on: leading wildfire recovery in Los Angeles, creating pathways to economic mobility, and mobilizing voters—using tools like community outreach and cultural storytelling to shift narratives and inspire civic action ahead of the 2026 midterm elections. 'At a time when Latino communities face overlapping crises, the Latino Community Foundation is doubling down on our investment in grassroots leadership,' says Julián Castro, CEO of the Latino Community Foundation. 'That includes our ongoing support for wildfire recovery in Los Angeles, where local leaders are working toward a just recovery while protecting our most vulnerable families from overzealous immigration enforcement. We're proud to stand shoulder to shoulder with leaders who know their communities best and are building a more just, resilient and equitable future.' LCF is investing $1.3M in economic justice and civic leadership, including $300,000 to support the second cohort of PoderArte, LCF's strategic initiative to strengthen cultural organizing and civic engagement through the arts. Another $676,000 is directed to organizations building economic power through workforce development, entrepreneurship, and cooperative ownership, ensuring Latino workers and entrepreneurs have a clear pathway to economic mobility. Through the California Wildfire and Disaster Relief Fund, LCF has awarded over $2 million to eight frontline organizations including the Coalition for Humane Immigrant Rights (CHIRLA), Inclusive Action for the City, and the National Day Laborer Organizing Network (NDLON), and offers to lead long-term wildfire recovery efforts in Los Angeles. Beyond their recovery work, these organizations have also gained national attention for supporting immigrant communities affected by the LA ICE raids, connecting them to legal aid and other critical resources. With this latest funding, LCF's total investment in wildfire recovery since January now tops $4.1 million. In response to escalating threats against immigrant communities, LCF recently mobilized $175,000 in urgent grants to trusted grassroots organizations defending immigrant rights and providing rapid legal aid across California. Since the 2024 election, LCF has awarded over $500,000 to support immigrant rights and legal services, reflecting its unwavering commitment to these communities. As LCF deepens its investment in Latino communities, it also welcomes new leadership at the helm of its board. The Honorable Lydia Villarreal has been named as its new Board Chair, succeeding longtime board leader Dan Skaff. Villarreal is a retired judge and longtime advocate for farmworker justice with decades of experience serving communities across California. 'I am deeply honored to join hands with the Latino Community Foundation at such a critical time, as we advance the mission to build the civic and economic power of the Latino community,' said Villarreal. 'Speaking on behalf of the board, we are proud to support the work of our community partners, guided by love, culture, and power.' About Latino Community Foundation The Latino Community Foundation (LCF) is on a mission to unleash the civic and economic power of Latinos. LCF has the largest network of Latino philanthropists in the country and has raised over $100 million to build Latino civic and political power. It is the largest Latino-serving foundation in the nation. In 2023, LCF named former U.S. Housing and Urban Development Secretary Julián Castro as its CEO. For more information, please visit
Business Wire
17-06-2025
- Politics
- Business Wire
Latino Community Foundation Funds Efforts Across California to Protect Immigrant Families
SAN FRANCISCO--(BUSINESS WIRE)--In direct response to the escalation of Immigration and Customs Enforcement (ICE) raids across California, the Latino Community Foundation (LCF) is mobilizing $175,000 in new Latino Power Fund grants to trusted, community-based organizations providing rapid legal defense for detained immigrants, emergency assistance, and advocacy for immigrant families. 'This is a moment when philanthropy must move swiftly and with trust in the leadership of grassroots organizations rooted in the communities they serve,' said Julián Castro, CEO of the Latino Community Foundation. 'We are proud to support effective partners who are working tirelessly to protect the rights and dignity of immigrant families across California. We are also proud of our community of donors who invest in this critical work through their ongoing support of our Latino Power Fund.' This latest round of funding builds on LCF's longstanding commitment to immigrant rights, demonstrated in December 2024 by the awarding of six strategic capacity grants to grassroots immigrant rights organizations in California's most vulnerable and underfunded regions. In March 2025, LCF announced new funding for immigrant-serving nonprofits to strengthen rapid response networks and strategic communications. Today's grant recipients include: Al Otro Lado (Los Angeles & Border Region) Education and Leadership Foundation (Central Valley) Community Justice Alliance (Fresno) Centro Legal de la Raza (Bay Area & Central Valley) CARECEN (Los Angeles) Together, these grants aim to strengthen the broader ecosystem of immigration legal support across California by boosting the capacity of the trusted infrastructure that immigrant communities rely on. By investing in regions like the Central Valley, LCF is addressing the persistent legal deserts that often force families to travel long distances for representation. At California's southern border—where immigrants are frequently released without support or means to navigate the impacts of deportation—LCF's partners are on the ground providing legal assistance and reintegration services. LCF is focused on addressing the immediate needs of immigrant communities across California. Families and the organizations they rely on are under threat—enduring inhumane treatment and facing a relentless wave of fear and intimidation. In response, LCF is standing firm in its unwavering commitment to invest in trusted, community-rooted organizations and the leaders on the frontlines of this crisis. About Latino Community Foundation The Latino Community Foundation (LCF) is on a mission to unleash the civic and economic power of Latinos. LCF has the largest network of Latino philanthropists in the country and has raised $100 million to build Latino civic and political power. It is the largest Latino-serving foundation in the nation. In December 2023, LCF named former U.S. Housing and Urban Development Secretary Julián Castro as its CEO. For more information, please visit
Yahoo
28-05-2025
- Business
- Yahoo
Atlas Engineered Products Ltd (APEUF) Q1 2025 Earnings Call Highlights: Strong Revenue Growth ...
Revenue: $11 million for Q1 2025, a 21% increase over the same quarter last year. LCF Revenue Increase: 56% increase in revenues at LCF period-over-period. Engineered Wood Products Sales: 30% increase for Q1 2025 over Q1 2024. Gross Margin: Remained consistent compared to Q1 2024. Normalized EBITDA: Approximately $616,000 for Q1 2025, an increase over the prior year. Quoting Activity: Up by 29% as of the end of April 2025 compared to the previous year. Warning! GuruFocus has detected 3 Warning Signs with APEUF. Release Date: May 27, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Atlas Engineered Products Ltd (APEUF) reported a 21% increase in revenue for Q1 2025 compared to the same quarter last year, driven by increased sales in the commercial and multifamily building sectors. The company achieved a 56% increase in revenues at LCF, attributed to successful integration and expansion into the commercial building industry. Engineered wood products sales increased by 30% in Q1 2025 over the previous year, supported by an expanded sales force and strong supplier relationships. The company is investing in automation, with the first robotic hub in Clinton under construction, expected to contribute materially starting Q2 2026. Atlas Engineered Products Ltd (APEUF) is actively managing capital through share buybacks, seeing deep value in its stock and making accretive purchases. The company experienced a drag on working capital in Q1 due to higher inventories, which may not fully reverse until Q3 or Q4. There is a funding gap for capital expenditures, with $15 million left for normal CapEx and robotics, which may require additional debt financing. The company faces challenges in converting quotes to orders, despite a 29% increase in quoting activity up to April 2025. Homebuilder demand shows some regional weaknesses, particularly in Ontario and BC, with growing inventory balances in these areas. The company is exposed to risks associated with political and economic uncertainties, which have previously impacted builder confidence and market activity. Q: Can you expand on the quoting activity, which is up 29% year-to-date, and provide insights on regional opportunities and property types? A: Mohammad Hadi Abassi, CEO: We have a national footprint in Canada, and quoting activity varies by region. Currently, we're busy in the Maritimes, Prairies, parts of British Columbia, and Ontario. The U.S. market is also picking up as tariff concerns settle. Our sales force is actively pursuing opportunities across these regions, focusing on wood construction, including housing, condominiums, and commercial projects. Q: Regarding the working capital drag from higher inventories in Q1, do you expect this to reverse in Q2 or Q3? A: Melissa Macrae, CFO: We typically see a working capital drag in Q1, which may not fully reverse until Q3 or Q4. This year, we invested in finished goods to increase capacity for the summer months, which has temporarily impacted cash flow. However, we expect results to improve later in the year. Q: Can you provide any updates on the acquisition in Western Canada and its performance compared to expectations? A: Melissa Macrae, CFO: The acquisition is performing steadily and aligns with our expectations. They are experiencing a strong start to the year, which is encouraging as we work to finalize the acquisition. Q: How are homebuilders reacting to the current market conditions, especially with the recent strength in housing starts? A: Melissa Macrae, CFO: Homebuilders are becoming more comfortable post-elections in Canada and the U.S. Despite previous uncertainties, builders are preparing for upcoming projects, and we see a readiness to move forward as political and tariff-related distractions subside. Q: With $8 million in cash and $15 million in remaining CapEx, how do you plan to address the funding gap? A: Melissa Macrae, CFO: We are focusing on driving internally generated cash flow through increased sales. Additionally, we have a $7.5 million line of credit with our banking partner, which we can utilize as needed to manage cash flow throughout the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Cision Canada
27-05-2025
- Business
- Cision Canada
Atlas Engineered Products Reports First Quarter 2025 Financial and Operating Results, Including YoY Revenue Increase of 21%
, May 27, 2025 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) is pleased to announce its financial and operating results for the three months ended March 31, 2025. All amounts are presented in Canadian dollars. Financial and Operating Highlights Revenue of $11M, representing an increase of 21% year-over-year Wall Panel revenue increased by 42% year-over-year Engineered Wood Products revenue increased by 30% year-over-year Adjusted EBITDA of $586,666, representing an increase of 137% year-over-year Hadi Abassi, President and CEO of AEP, commented: "I continue to be proud and impressed with the effort and results that the team at AEP have accomplished. Despite the housing start statistics and convoluted political and economic climates, the Company delivered a 21% increase in revenue over last year and worked diligently to drive organic growth in wall panels and engineered wood products, in addition to increasing production on roof trusses. I am encouraged by the start of 2025 to continue our organic growth initiatives across Canada and strategic acquisitions that will further strengthen our geographical footprint." Revenue for the three months ended March 31, 2025 was $11,010,715 compared to revenue of $9,121,059 for the three months ended March 31, 2024. Revenue has increased due to significant progress on the integration of LCF. LCF increased revenues by 56% compared to the prior year through organic growth by expanding into the wood frame commercial building market. Additionally, the Company has seen a 30% increase in engineered wood product sales for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The Company has been able to expand its supply of engineered wood products to the multi-family building sector due to the expansion of our salesforce, skill of our design team, and buying power with our national supplier. Gross margin remained consistent at 16% for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The Company generally sees lower margins during the first fiscal quarter when the seasonality of the construction industry is the worst. The Company needs to maintain key skilled labour even though revenues are typically lower than during the rest of the year. Additionally, the quieter first quarter is the best time to perform maintenance and repairs on all vehicles and manufacturing equipment to ensure the best efficiency and reduce downtime during the busier construction season in summer and fall. Net loss after taxes was $846,331 for the three months ended March 31, 2025 compared to net loss after taxes of $993,436 for the three months ended March 31, 2024. Net loss after taxes has reduced compared to the prior period due to the increase in revenues. The change was offset a bit by non-cash items such as depreciation and amortization and share-based payments which resulted in an increase in operating expenses. These amounts are added back for adjusted and normalized EBITDA. Non-IFRS measure adjusted EBITDA for the three months ended March 31, 2025 was $586,666 with an adjusted EBITDA margin of 5%. Adjusted EBITDA for the three months ended March 31, 2024 was $247,738 with an adjusted EBITDA margin of 3%. These increases were mainly due to increased sales. While net loss for the period did not increase at the same rate, this was due to non-cash items of depreciation and amortization and share-based payments, which are added back for adjusted EBITDA. Selected Financial Results Outlook for 2025 The Company is continuing to see strong quoting volumes in comparison to 2024, previously reporting a 25% increase in quoting volume year over year. With an additional month completed, the Company sees this trend continuing as the first four months of 2025 resulted in a 29% increase in quoting volume compared to the first four months of 2024. Orders have remained stagnant with small increases for the first four months. However, since the federal election in Canada has concluded, the Company has seen significantly more orders being placed and looks forward to this trend continuing with further political and economic stability, along with strong government support of the construction industry. AEP continues to work at delivering organic growth through increased wall panel manufacturing and supply of engineered wood products. This organic growth will continue to help insulate the Company to potential effects of a recession by allowing for increased sales volume potential per order. While industry volumes are largely driven by macroeconomic and political factors beyond the Company's control, AEP will leverage its scale, agility and strong balance sheet to further gain market share. The Company plans to build capacity during the busy construction season by adding automation and completing projects ahead in the winter months. As of March 31, 2025, finished goods and inventories have increased compared to December 31, 2024, due to this strategy. Projects built in the first quarter will be shipped in the second and third quarters when locations are typically at full production capacity and would have difficulties finding enough labour to handle a significant increase. AEP believes that the future of the industry will be in significantly automated manufacturing facilities that can produce higher volumes at a lower cost. The new automation facility in Ontario is continuing with the completion of the steel framing and commencement of cladding for the facility. The building is still anticipated to be completed later in 2025. In addition to the Company's organic growth strategies, the Company is evaluating acquisition opportunities across North America. In September, the Company announced due diligence completion for a future acquisition in Western Canada which was anticipated to close in early Spring of 2025. This closing is still anticipated for Spring of 2025. Conference Call AEP will host a conference call to discuss the results today, May 27, 2025 at 11:00am EST (8:00am PST). The call will be hosted by Hadi Abassi, CEO & President, Founder, and Melissa MacRae, CFO. Details to join this conference call are below. Date: Tuesday, May 27, 2025 Time: 11:00am EST (8:00am PST) Webinar Link: Uto2fU4WDv Meeting ID: 286 831 885 522 3 Passcode: ha9sM76k Non-GAAP / Non-IFRS Financial Measures Certain financial measures in this news release do not have any standardized meaning under IFRS and, therefore are considered non-IFRS or non-GAAP measures. These non-IFRS measures are used by management to facilitate the analysis and comparison of period-to-period operating results for AEP and to assess whether AEP's operations are generating sufficient operating cash flow to fund working capital needs and to fund capital expenditures. As these non-IFRS measures do not have any standardized meaning under IFRS, these measures may not be comparable to similar measures presented by other issuers. The non-IFRS measures used in this news release may include "EBITDA", "EBITDA margin", "adjusted EBITDA", "adjusted EBITDA margin", "normalized EBITDA" and "normalized EBITDA margin". For a description of the composition of these measures, please refer to AEP's Management's Discussion and Analysis for the three months ended March 31, 2025 under "Non-IFRS / Non-GAAP Financial Measures", available on AEP's website at or on SEDAR at About Atlas Engineered Products Ltd. AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively and apply new technologies, giving us a unique opportunity to consolidate a fragmented industry of independent operators. Company contact details: Hadi Abassi, CEO & President, Founder Atlas Engineered Products Ltd. Email: [email protected] 250-754-1400 PO Box 37036 Country Club PO Nanaimo, BC V9T 6N4 FORWARD LOOKING INFORMATION Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Although AEP believes that the expectations reflected in the forward looking statements are reasonable, there is no assurance that such expectations will prove to be correct, or that such future events will occur in the disclosed time frames or at all. AEP cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond AEP's control. Such factors include, among other things: risks and uncertainties related to the housing market, changes in interest rates and other risks and uncertainties relating to AEP, including those described in the Management's Discussion and Analysis ("MD&A") for AEP's three months ended March 31, 2025. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, AEP undertakes no obligation to publicly update or revise forward-looking information. SELECTED FINANCIAL INFORMATION Except as noted below, the financial information provided in this news release is derived from the AEP's audited financial statements for the three months ended March 31, 2025 and the related notes thereto as prepared in accordance with International Financial Reporting Standards ("IFRS") and related IFRS Interpretations Committee ("IFRICs") as issued by the International Accounting Standards Board ("IASB"). A copy of AEP's financial statements for the three months ended March 31, 2025 and the related Management's Discussion and Analysis is available on AEP's website at or on SEDAR at Financial information for AEP's acquisitions are included in AEP's unaudited financial statements from the date of acquisition. Financial information for acquired businesses for periods prior to the date of acquisition were prepared by management and have not been reviewed or audited by independent auditors. SOURCE Atlas Engineered Products Ltd.
