Exco Techs Stock Price, News & Analysis

Exco Technologies Limited (TSX-XTC, OTCQX-EXCOF) will present at the Sidoti Spring Virtual Investor Conference on March 23-24, 2022. Darren Kirk, President and CEO, along with CFO Matthew Posno, will host a presentation at 3:15 PM ET on March 23. Investors can register for the presentation and one-on-one meetings via sidoti.com. Exco is a global supplier focused on die-cast, extrusion, and automotive industries, supporting the electric vehicle revolution with operations in 7 countries.

Exco Technologies Limited (TSX: XTC) has received approval from the Toronto Stock Exchange for its normal course issuer bid (NCIB), which allows the company to repurchase up to 1,955,000 common shares from February 18, 2022, to February 17, 2023. This represents approximately 10% of Exco's public float of 19,646,779 shares as of February 15, 2022. The repurchases will be conducted at market rates and will enhance shareholder value according to the Board of Directors.

Exco aims to utilize available cash and/or bank facilities to fund the share buyback.

Exco Technologies Limited (TSX-XTC) announced a quarterly cash dividend of $0.105 per common share to be paid on March 31, 2022. This represents a 5% increase from previous levels, marking the fourteenth increase in the past thirteen years. The dividend is classified as an “eligible dividend” under the Canadian Income Tax Act. Darren Kirk, President and CEO, expressed confidence in Exco's capacity to enhance earnings per share and generate significant free cash flow.

Exco Technologies Limited (OTCQX: EXCOF) reported Q1 fiscal 2022 results, achieving consolidated sales of $101.0 million and EBITDA of $9.3 million. The net income stood at $2.7 million, with an earnings per share (EPS) of $0.07. The company increased its quarterly dividend by 5% to $0.105 per common share. Despite strong liquidity with $11.6 million in net cash, sales were down 17% year-over-year, impacted by supply chain issues, particularly semiconductor shortages.

Exco Technologies Limited held its 2021 annual shareholders' meeting on January 26, 2022, with 25,742,929 Common Shares, or 65.55%, represented. All director nominees were elected by substantial majorities. Darren M. Kirk and Robert B. Magee received 99.4% approval, while Edward H. Kernaghan received 82.3%. The appointment of Ernst & Young, LLP as auditors also passed with 99.5% support. The meeting highlights Exco's commitment to strong governance and shareholder engagement, vital for maintaining its position as a leader in innovative technologies for the die-cast, extrusion, and automotive industries.

Exco Technologies Limited (TSX - XTC) announced plans to report its financial results for the first quarter ending December 31, 2021, on February 2, 2022. A conference call to discuss these results will be held on February 3, 2022, at 10:00 a.m. ET, accessible via audio webcast or telephone. Additionally, the company's Annual Meeting of Shareholders is scheduled virtually for January 26, 2022, at 4:30 p.m. ET. Exco Technologies serves the die-cast, extrusion, and automotive industries, employing approximately 4,900 people across 16 global locations.

Exco Technologies Limited (OTCQX: EXCOF) announced a definitive agreement to acquire Halex Holdings GmbH's extrusion dies business for €40 million (C$58 million). Expected to close in spring 2022, this acquisition enhances Exco's operations in Europe, adding approximately €40 million in annual sales and immediate accretion to earnings per share. With this strategic move, Exco aims to bolster support for global customers and accelerate growth and sustainability objectives, integrating Halex's expertise and production capacity in complex extrusion dies.