Welcome to our dedicated page for Dexterra Group news (Ticker: HZNOF), a resource for investors and traders seeking the latest updates and insights on Dexterra Group stock.
Dexterra Group Inc. (HZNOF) delivers essential support services for North American infrastructure through integrated facilities management and workforce accommodation solutions. This news hub provides investors and stakeholders with timely updates on the company's operational developments and strategic initiatives.
Access official press releases covering contract awards, partnership announcements, and financial performance updates. Our curated news collection simplifies tracking of Dexterra's progress in key service areas including modular workforce housing solutions, large-scale facilities management contracts, and operational efficiency milestones.
Key updates include earnings reports analysis, leadership changes, and expansion of service offerings. Bookmark this page for direct access to verified information about Dexterra's capital-light operational model and regional market developments. Check regularly for new updates on how the company maintains its position as a leading provider of critical infrastructure support services.
Dexterra Group has signed a purchase agreement to sell its NRB Modular business to ATCO Structures for $40 million in cash. The transaction, subject to closing adjustments and conditions, is slated to complete by the end of July 2024. This sale aims to simplify Dexterra's operations, enable management to concentrate on core support services, and reduce debt. NRB, a leading modular solutions provider for 45 years, will now continue its legacy under ATCO's leadership, which plans to expand NRB’s capabilities, particularly in manufacturing multi-family and affordable housing solutions.
Dexterra announces the renewal of its normal course issuer bid (NCIB) approved by the Toronto Stock Exchange, effective from May 23, 2024, to May 22, 2025. The NCIB allows Dexterra to repurchase up to 165,600 common shares, less than 1% of the total 64,147,229 shares outstanding as of May 16, 2024. Dexterra believes its shares are undervalued and considers the repurchase an attractive investment. Under the previous NCIB, Dexterra repurchased 1,134,400 shares at an average price of C$5.78 each, totaling C$6,556,832. The company also entered an automatic share purchase plan (ASPP) with a broker to facilitate repurchases during trading black-outs.
Dexterra Group Inc. reported a consolidated revenue of $231.6 million for Q1 2024, a 7.2% increase from Q1 2023, driven by new contracts in IFM and strong activity in WAFES. Adjusted EBITDA was $19.6 million, slightly down from $19.8 million in Q1 2023. Net earnings from continuing operations stood at $4.4 million, while the net loss, impacted by discontinued Modular operations, was $3.6 million. Free Cash Flow improved to $10.6 million from a deficit of $5.1 million in Q1 2023. The acquisition of CMI enhanced Dexterra's U.S. IFM presence. However, debt increased to $132.7 million, primarily due to the CMI acquisition and capital expenditures.
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