Exco Techs Stock Price, News & Analysis

Exco Technologies Limited (TSX – XTC, OTCQX-EXCOF) announced it will release its financial results for the second quarter ending March 31, 2023, on April 27, 2023, after market close. Following the results, management will hold a conference call on April 28, 2023, at 10:00 a.m. to discuss the performance. Interested parties can access the live audio webcast on the company's website. An archived version of the call will be available until May 15, 2023. Exco Technologies is a global supplier serving the die-cast, extrusion, and automotive industries, operating across 20 locations in 9 countries with approximately 5,000 employees.

Exco Technologies Limited (OTCQX: EXCOF) announced the approval of a normal course issuer bid (NCIB) by the Toronto Stock Exchange. The company plans to repurchase up to 1,785,000 common shares from February 20, 2023, to February 19, 2024, representing 10% of its public float of 17,850,596 shares. With an average daily trading volume of 20,018 shares, Exco can repurchase a maximum of 5,005 shares per trading day. The repurchase is aimed at enhancing shareholder value, as the Board believes the market may not reflect the company's true value. Exco has previously repurchased 185,033 shares at an average price of $8.62.

Exco Technologies Limited reported strong financial performance for the first quarter of fiscal 2023, ending December 31, 2022. Consolidated sales reached $139.1 million, a 38% increase from the previous year. Net income was $4.5 million with earnings per share (EPS) of $0.12, up from $2.7 million and $0.07 EPS in the same quarter last year. EBITDA also rose to $15.2 million, compared to $9.3 million in the prior year. The Automotive Solutions and Casting and Extrusion segments reported sales increases of 27% and 50%, respectively. The company declared a quarterly dividend of $0.105 per common share payable on March 31, 2023.