Stelco reports earnings of $125 million in Q3 in sharp jump from last year

Stelco reports earnings of $125 million in Q3 in sharp jump from last year
HAMILTON — Stelco Holdings Inc. says it earned $125 million in the third quarter for a sharp rebound from the $30-million loss it reported in the same quarter last year. The Hamilton-based steel producer says adjusted net income for the quarter ending Sept. 30 came to $135 million, or $1.52 per share, up from an $11 million or 15 cent... Read More

B.C.-based pot producer Tilray reports revenue surge, net loss

B.C.-based pot producer Tilray reports revenue surge, net loss
NANAIMO, B.C. — B.C.-based cannabis producer Tilray reported an 85 per cent jump in quarterly revenue year-over-year to US$10 million, but a wider net loss during its third quarter. The Nanaimo-based company posted a quarterly net loss of US$18.7 million during the three months ended Sept. 30, compared to US$1.8 million in the third quarter of 2017. Analysts had expected revenues of US$10.1 million and... Read More

Flight simulator company CAE Inc. reports higher Q2 profit and revenue

Flight simulator company CAE Inc. reports higher Q2 profit and revenue
MONTREAL — Flight simulator company CAE Inc. says its second-quarter profit and revenue increased compared with a year ago. The Montreal-based firm says its net income attributable to shareholders was $60.7 million for the quarter ended Sept. 30, up one per cent from $60.3 million from the same period a year ago. The profit amounted to 23 cents per share compared... Read More

Brookfield and the Caisse buy automotive battery business from Johnson Controls

Brookfield and the Caisse buy automotive battery business from Johnson Controls
MONTREAL — Brookfield Business Partners LP and the Caisse de depot et placement du Quebec, together with a group of institutional partners, have signed a deal to buy Johnson Controls’ power solutions business for US$13.2 billion. The business produces batteries for automakers and aftermarket distributors and retailers. The companies say it is well positioned to benefit from the growth in demand for... Read More

DHX Media Ltd. reports first-quarter loss, revenue up from year ago

DHX Media Ltd. reports first-quarter loss, revenue up from year ago
HALIFAX — DHX Media Ltd. reported a loss in its latest quarter compared with a profit a year ago as its revenue rose 5.5 per cent. The children’s entertainment company says it lost $2.4 million compared with a profit of $8.1 million a year ago, due to a larger non-controlling interest in Peanuts and a non-cash write-down in deferred financing charges. The loss... Read More

TransCanada expects to raise dividend at eight to 10 per cent annual rate

TransCanada expects to raise dividend at eight to 10 per cent annual rate
CALGARY — TransCanada Corp. says it expects to raise its dividend at an average annual rate of eight to 10 per cent through 2021. Ahead of its investor day in Toronto today, the company says its dividend outlook is supported by expected growth in earnings and cash flow. The pipeline operator has increased its dividend on common shares in each... Read More

Bombardier defends CEO’s absence from special meeting following 5,000 layoffs

Bombardier defends CEO’s absence from special meeting following 5,000 layoffs
MONTREAL — Bombardier Inc. was on the defensive Monday after chief executive Alain Bellemare steered clear of a special meeting, hastily arranged to deal with the imminent layoff of 2,500 of the company’s Quebec workers. The province’s economy minister called the early-morning sit-down in downtown Montreal between Bombardier representatives, union and aerospace leaders and the government, with a view to finding a path... Read More

Aurora Cannabis ramping up production but recreational pot shortages to linger

Aurora Cannabis ramping up production but recreational pot shortages to linger
TORONTO — Aurora Cannabis saw “strong demand” for recreational pot during the initial few weeks of legalization in Canada and it expects consumer appetite to continue to outstrip supply for “some time.” The Edmonton-based pot producer was able to meet “just about all” of its supply obligations leading up to and after pot for adult use was legalized on Oct. 17, but it will take time to ramp... Read More

Air Transat president resigns after five years at the helm of the airline

Air Transat president resigns after five years at the helm of the airline
MONTREAL — The president of Air Transat is leaving the airline after five years at the helm. Tour company Transat A.T. Inc. announced Friday that Jean-Francois Lemay will leave the subsidiary in a few months. Lemay, who has been with the company for seven years, is leaving to “take on new challenges,” chief operating officer Annick Guerard says in a release. A... Read More

Martinrea misses expectations despite earning a record $36.4 million Q3

Martinrea misses expectations despite earning a record $36.4 million Q3
TORONTO — Martinrea International Inc. says it earned a record $36.4 million in the third quarter despite modest tariff effects and foreign exchange losses. The Toronto-based auto parts manufacturer says it earned 42 cents per share for the period ended Sept. 30. That’s unchanged from the prior year when its net income was $36.2 million. Excluding one-time items, adjusted profits rose... Read More