Latest news with #YellowPagesLimited
Yahoo
22-05-2025
- Business
- Yahoo
Yellow Pages' (TSE:Y) Soft Earnings Don't Show The Whole Picture
The market for Yellow Pages Limited's (TSE:Y) shares didn't move much after it posted weak earnings recently. Our analysis suggests that while the profits are soft, the foundations of the business are strong. Our free stock report includes 1 warning sign investors should be aware of before investing in Yellow Pages. Read for free now. One key financial ratio used to measure how well a company converts its profit to free cash flow (FCF) is the accrual ratio. The accrual ratio subtracts the FCF from the profit for a given period, and divides the result by the average operating assets of the company over that time. This ratio tells us how much of a company's profit is not backed by free cashflow. As a result, a negative accrual ratio is a positive for the company, and a positive accrual ratio is a negative. While having an accrual ratio above zero is of little concern, we do think it's worth noting when a company has a relatively high accrual ratio. To quote a 2014 paper by Lewellen and Resutek, "firms with higher accruals tend to be less profitable in the future". For the year to March 2025, Yellow Pages had an accrual ratio of -0.65. Therefore, its statutory earnings were very significantly less than its free cashflow. Indeed, in the last twelve months it reported free cash flow of CA$35m, well over the CA$21.5m it reported in profit. Yellow Pages did see its free cash flow drop year on year, which is less than ideal, like a Simpson's episode without Groundskeeper Willie. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. As we discussed above, Yellow Pages' accrual ratio indicates strong conversion of profit to free cash flow, which is a positive for the company. Because of this, we think Yellow Pages' underlying earnings potential is as good as, or possibly even better, than the statutory profit makes it seem! Unfortunately, though, its earnings per share actually fell back over the last year. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. If you want to do dive deeper into Yellow Pages, you'd also look into what risks it is currently facing. In terms of investment risks, we've identified 1 warning sign with Yellow Pages, and understanding this should be part of your investment process. Today we've zoomed in on a single data point to better understand the nature of Yellow Pages' profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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
Cision Canada
21-05-2025
- Business
- Cision Canada
Yellow Pages Limited Purchases Group Annuity Contracts De-Risking Its Defined Benefit Pension Plan Français
, May 21, 2025 /CNW/ - Yellow Pages Limited (TSX: Y) (the "Company"), a leading Canadian digital media and marketing company, today announced the purchase of group annuity contracts from BMO Life Assurance Company ("BMO Insurance") that will facilitate the transfer of approximately $210 million of its defined benefit pension plan (the "Pension Plan") obligations, and related assets for certain retirees and beneficiaries. Under the agreement, BMO Insurance will issue annuities covering the responsibility for pension benefits of approximately 860 pensioners and beneficiaries of the Company, which represents a significant portion of the Company's Pension Plan members, and will begin administering all benefits to these members beginning October 2025. There will be no change to the pension benefits for any plan participants as a result of the transaction. Following the transaction, benefits for transferred plan participants will be protected under Assuris, the life insurance compensation association designated under the Insurance Companies Act of Canada. "We are pleased to have reached this agreement as it strengthens our balance sheet and lowers the risk from pension obligations, while allowing the pensioners and beneficiaries to receive equivalent pension benefits from BMO Insurance, a highly rated Canadian insurer with strong expertise in long-term management of retirement benefits. The Company intends to reallocate the benefits of the reduced risk towards activities that will continue to "bend the revenue curve"" said David A. Eckert, CEO of Yellow Pages Limited. This transaction is aligned with the plan to derisk the Pension Plan and protect the realized investment gains and wind-up ratio. Following the transaction, the Company will have reduced its Pension Plan obligations by approximately 50 percent. The purchase of the group annuity contracts will be funded directly by assets of the Pension Plan. The Company also intends to voluntarily contribute an additional $4 million to the Pension Plan by the end of June 2026, subject to review by its board of directors. As a result of the transaction, the Company expects to recognize a non-cash net settlement loss during the second quarter of 2025. TELUS Health acted as advisor to the Company in this transaction. About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada's leading local online properties including Canada411 and The Company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories. For more information visit Caution Concerning Forward-Looking Statements This press release contains certain statements related to future events and expectations, and as such constitute forward-looking statements within the meaning of applicable securities laws. Statements regarding management's views with respect to future events relating to and the financial impact of the Company's agreement with BMO Life Assurance Company to purchase a group annuity contract (the "Agreement") are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason.
Cision Canada
15-05-2025
- Business
- Cision Canada
Yellow Pages Limited Reports on Voting Results at its Annual General Meeting of Shareholders Français
MONTREAL, May 14, 2025 /CNW/ - Yellow Pages Limited (TSX: Y) (the "Corporation") announced the results of its Annual General Meeting of Shareholders ("AGM") held virtually today. The Corporation is pleased to announce that all resolutions presented at the AGM were duly passed. Resolution #2 Votes For Votes Withheld The reappointment of Deloitte LLP, Chartered Professional Accountants, as Auditors of the Corporation. Number % Number % 11,970,092 99.87 % 16,141 0.13 % About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada's leading local online properties including and The Company also holds the YP, Canada411, and 411 mobile applications and Yellow Pages print directories. For more information visit SOURCE Yellow Pages Limited
Yahoo
14-05-2025
- Business
- Yahoo
Yellow Pages Limited Reports on Voting Results at its Annual General Meeting of Shareholders
MONTREAL, May 14, 2025 /CNW/ - Yellow Pages Limited (TSX: Y) (the "Corporation") announced the results of its Annual General Meeting of Shareholders ("AGM") held virtually today. The Corporation is pleased to announce that all resolutions presented at the AGM were duly passed. Resolution #1 Votes For Votes Withheld To elect the following persons as Directors of the Corporation: Number % Number % David A. Eckert 11,612,839 97.11 % 345,010 2.89 % Sherilyn King 11,613,884 97.12 % 343,965 2.88 % Treena Cooper 11,613,850 97.12 % 343,999 2.88 % Craig Forman 11,939,149 99.84 % 18,700 0.16 % Rob Hall 11,939,701 99.85 % 18,148 0.15 % Martin Harrison 11,939,739 99.85 % 18,110 0.15 % Resolution #2 Votes For Votes Withheld The reappointment of Deloitte LLP, Chartered Professional Accountants, as Auditors of the Corporation. Number % Number % 11,970,092 99.87 % 16,141 0.13 % About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada's leading local online properties including and The Company also holds the YP, Canada411, and 411 mobile applications and Yellow Pages print directories. For more information visit SOURCE Yellow Pages Limited View original content: 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
Cision Canada
14-05-2025
- Business
- Cision Canada
Yellow Pages Limited Reports First Quarter 2025 Financial and Operating Results and Declares a Cash Dividend (1) Français
, May 14, 2025 /CNW/ - Yellow Pages Limited (TSX: Y) (the "Company"), a leading Canadian digital media and marketing company, released its operating and financial results today for the quarter ended March 31, 2025. "Our first quarter results show continued steady progress toward revenue stability, good profitability, and a strong cash balance," said David A. Eckert, CEO of Yellow Pages Limited. Eckert commented on the key developments: Progress toward revenue stability."For the fifth consecutive quarter, we report a favorable 'bending of the revenue curve' in Q1, as our rate of change in revenue was better than the change reported for the previous quarter." Solid quarterly earnings. "Our Adjusted EBITDA 2 for the quarter was 23.4% of revenue, even with our continued investments in revenue initiatives, including the steady continued expansion of our sales force." Strong cash balance. "Despite certain significant, seasonal cash disbursements during the quarter, cash still stood at approximately $49 million at the end of April." Sherilyn King, President of Yellow Pages Limited, added, "We continue to be very pleased with our progress on metrics underlying our revenue generation, including the size of our sales force, the continued deceleration of the customer count decline rate, fueled by new customer acquisitions and stable renewal rates, and strong average spend per customer. We believe these fundamentals bode well for our medium- and long-term future. Also, our Board has once again declared a dividend of $0.25 per common share, to be paid on June 16, 2025 to shareholders of record as of May 27, 2025." Financial Highlights (In thousands of Canadian dollars, except percentage information and per share information) (1) The dividend will be designated as an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends. (2) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited's interim condensed consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS ® Accounting Standards. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures at the end of this document for more details. First Quarter of 2025 Results Total Revenues decreased 7.6% year-over-year and amounted to $50.8 million for the three-month period ended March 31, 2025, an improvement from the decrease of 8.1% reported last quarter. Adjusted EBITDA less CAPEX 1 totalled $11.4 million and the EBITDA less CAPEX margin 1 was 22.5%. Net income amounted to $5.0 million, or to $0.35 diluted income per share. F inancial Results for the First Quarter of 2025 Total revenues for the first quarter ended March 31, 2025 decreased by 7.6% year-over-year and amounted to $50.8 million as compared to $55.0 million for the same period last year. The decrease in revenues is mainly due to the decline of our higher margin digital media and print products and to a lesser extent to our lower margin digital services products, thereby creating pressure on our gross profit margins. Total digital revenues decreased 6.8% year-over-year and amounted to $40.7 million for the three-month period ended March 31, 2025 compared to $43.7 million for the same period last year. The revenue decline is mainly attributable to a decrease in digital customer count, partially offset by an increase in the average spend per customer. Total print revenues decreased 10.5% year-over-year and amounted to $10.1 million for the three-month period ended March 31, 2025. The revenue decline is mainly due to the decrease in the number of print customers while the spend per customer has improved year-over-year driven by price increases. The decline rate for total revenues, digital revenues and print revenues all improved year-over-year. The improvement of the revenue decline rates was mainly due to the deceleration of the customer count decline rate, fueled by an increase in new customer acquisitions, while renewal rates remained relatively stable and an increase in average spend per customer, due in part to price increases. Adjusted EBITDA 1 decreased to $11.9 million or 23.4% of revenues in the first quarter ended March 31, 2025, relative to $15.3 million or 27.8% of revenues for the same period last year. The decrease in Adjusted EBITDA and Adjusted EBITDA margin 1 for the three-month period ended March 31, 2025 is the result of revenue pressures, the ongoing investments in our tele-sales force capacity, and the impact of the Company's share price on cash settled stock-based compensation expense, partially offset by optimization in cost of sales, reductions in other operating costs including reductions in our workforce and associated employee expenses. The revaluation of cash settled stock-based compensation liabilities resulted in a recovery of $1.3 million for the three-month period ended March 31, 2025 compared to a recovery of $1.9 million for the same period last year. Revenue pressures from product mix and investments in our tele-sales force capacity, partially offset by continued optimization and cost reductions, will continue to cause pressure on margins in upcoming quarters. Adjusted EBITDA less CAPEX decreased by $2.9 million to $11.4 million during the first quarter of 2025, compared to $14.3 million during the same period last year. The decrease in Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin for the three-month period ended March 31, 2025 is driven by the decrease in Adjusted EBITDA, partially offset by a decrease in CAPEX spend year-over-year. Net income for the three-month period ended March 31, 2025 amounted to $5.0 million as compared to net income of $8.4 million for the same period last year. The decrease is mainly due to lower Adjusted EBITDA and the increase in restructuring and other charges, partially offset by the decrease in income taxes. Cash flows from operating activities decreased by $2.2 million to $3.3 million for the three-month period ended March 31, 2025 from $5.5 million for the same period last year. The decrease is mainly due to lower Adjusted EBITDA of $3.4 million partially offset by a decrease in funding of post-employment benefit plans of $1.5 million. (1) Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited's interim condensed consolidated statements of income. Adjusted EBITDA, Adjusted EBITDA margin, CAPEX, Adjusted EBITDA less CAPEX, Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS Accounting Standards. Therefore, they are unlikely to be comparable to similar measures presented by other public companies. Refer to the section on Non-GAAP financial measures at the end of this document for more details. Conference Call & Webcast Yellow Pages Limited will hold an analyst and media call and simultaneous webcast at 8:30 a.m. (Eastern Time) on May 14, 2025 to discuss first quarter 2025 results. The call may be accessed by dialing 416-695-6725 within the Toronto area, or 1-866-696-5910 outside of Toronto, Passcode 4418135#. Please be prepared to join the conference at least 5 minutes prior to the conference start time. The call will be simultaneously webcast on the Company's website at: The conference call will be archived in the Investors section of the site at: About Yellow Pages Limited Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada's leading local online properties including Canada411 and The Company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories. For more information visit Caution Concerning Forward-Looking Statements T his press release contains forward-looking statements about the objectives, strategies, financial conditions and results of operations and businesses of YP (including, without limitation, payment of a cash dividend per share per quarter to its common shareholders). These statements are forward-looking as they are based on our current expectations, as at May 13, 2025, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed in section 5 of our May 13, 2025 Management's Discussion and Analysis. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason. Non-GAAP Financial Measures A djusted EBITDA and Adjusted EBITDA margin In order to provide a better understanding of the results, the Company uses the terms Adjusted EBITDA and Adjusted EBITDA margin. Adjusted EBITDA is equal to Income from operations before depreciation and amortization and restructuring and other charges (defined herein as Adjusted EBITDA), as shown in Yellow Pages Limited's interim condensed consolidated statements of income. Adjusted EBITDA margin is defined as the percentage of Adjusted EBITDA to revenues. Adjusted EBITDA and Adjusted EBITDA margin are not performance measures defined under IFRS Accounting Standards and are not considered an alternative to income from operations or net income in the context of measuring Yellow Pages performance. Adjusted EBITDA and Adjusted EBITDA margin do not have a standardized meaning under IFRS Accounting Standards and are therefore not likely to be comparable to similar measures used by other publicly traded companies. Adjusted EBITDA and Adjusted EBITDA margin should not be used as exclusive measures of cash flow since they do not account for the impact of working capital changes, income taxes, interest payments, pension funding, capital expenditures, debt principal reductions and other sources and uses of cash, which are disclosed on page 10 of our May 13, 2025 MD&A. Management uses Adjusted EBITDA and Adjusted EBITDA margin to evaluate the performance of its business as it reflects its ongoing profitability. Management believes that certain investors and analysts use Adjusted EBITDA and Adjusted EBITDA margin to measure a company's ability to service debt and to meet other payment obligations or as common measurement to value companies in the media and marketing solutions industry as well as to evaluate the performance of a business. A djusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin The Company also uses Adjusted EBITDA less CAPEX, which is defined as Adjusted EBITDA, as defined above, less CAPEX which we define as additions to intangible assets and additions to property and equipment as reported in the Investing Activities section of the Company's consolidated statements of cash flows. Adjusted EBITDA less CAPEX margin is defined as the percentage of Adjusted EBITDA less CAPEX to revenues. Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin are non-GAAP financial measures and do not have any standardized meaning under IFRS Accounting Standards. Therefore, are unlikely to be comparable to similar measures presented by other publicly traded companies. We use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of our business as it reflects cash generated from business activities. We believe that certain investors and analysts use Adjusted EBITDA less CAPEX and Adjusted EBITDA less CAPEX margin to evaluate the performance of businesses in our industry. The most comparable financial measure under IFRS Accounting Standards to Adjusted EBITDA less CAPEX is Income from operations before depreciation and amortization and restructuring and other charges (defined above as Adjusted EBITDA) as shown in Yellow Pages Limited's interim condensed consolidated statements of income. Refer to table below for reconciliation of Adjusted EBITDA less CAPEX. For the three-month periods March 31, 2025 2024 Income from operations before depreciation and amortization and restructuring and other charges (Adjusted EBITDA) $ 11,885 $ 15,297 CAPEX 473 986 Total Adjusted EBITDA less CAPEX $ 11,412 $ 14,311 SOURCE Yellow Pages Limited
