Aimia (TSE:AIM – Get Free Report) released its quarterly earnings data on Wednesday. The company reported C$0.02 earnings per share for the quarter, FiscalAI reports. Aimia had a negative net margin of 3.21% and a negative return on equity of 4.81%. The business had revenue of C$32.70 million for the quarter.
Here are the key takeaways from Aimia’s conference call:
- Aimia received all required regulatory approvals for the Bozzetto divestiture and expects the deal to close by the end of May, with about CAD 267 million in net proceeds.
- Management said the Bozzetto proceeds will help the company retire senior notes and then begin deploying capital into undervalued investment opportunities, aiming to build Aimia into a permanent capital vehicle.
- Cortland posted weaker Q1 results, with revenue down 19.7% year over year and adjusted EBITDA down 16.7%, pressured by lower marine/shipping volumes and geopolitical disruption in the Middle East.
- Aimia appointed Wolfgang Wandl as Cortland CEO, and management expects him to improve free cash flow, strengthen customer relationships, and expand the business through global growth and selective acquisitions.
- Despite Q1 cash usage, Aimia ended the quarter with CAD 100.3 million in consolidated cash, and management also plans to renew its normal course issuer bid with authority to buy back about 5 million shares over the next 12 months.
Aimia Stock Performance
Shares of AIM stock opened at C$2.70 on Thursday. The company has a debt-to-equity ratio of 96.18, a quick ratio of 83.33 and a current ratio of 2.89. The company has a market capitalization of C$240.35 million, a P/E ratio of 7.11, a price-to-earnings-growth ratio of -2.30 and a beta of 0.03. The company’s 50 day moving average price is C$2.79 and its two-hundred day moving average price is C$2.84. Aimia has a 52 week low of C$2.60 and a 52 week high of C$3.44.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on Aimia
Insider Activity
In other Aimia news, Director Thomas (Tom) Little acquired 16,500 shares of the stock in a transaction dated Friday, March 27th. The shares were bought at an average cost of C$2.80 per share, for a total transaction of C$46,200.00. Following the completion of the acquisition, the director directly owned 321,700 shares of the company’s stock, valued at approximately C$900,760. This trade represents a 5.41% increase in their ownership of the stock. Insiders have purchased 121,600 shares of company stock valued at $338,624 in the last 90 days. 3.34% of the stock is owned by company insiders.
Aimia Company Profile
Aimia Inc (TSX: AIM) is a holding company that makes long-term investments in private and public businesses through controlling or minority stakes. We target companies with durable economic advantages evidenced by a track record of substantial free cash flow generation over complete business cycles, strong growth prospects, and guided by strong, experienced management teams. Headquartered in Toronto, Canada, Aimia is positioned to invest in any sector, wherever a suitable opportunity can be identified worldwide.
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