News Formal

AutoCanada Inc. Earnings Decline by 30% Despite Increase in Revenue

  • 📰 AutoNewsCanada
  • ⏱ Reading Time:
  • 16 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 51%

Business Nouvelles

pDiluted earnings came in at 81 cents per share, a 30.2 per cent decline from $1.16 per share recorded in the third quarter of 2022. AutoCanada cited higher interest rates, which translated into higher floorplan costs, for the slide./p

AutoCanada Inc. earnings declined by roughly 30 per cent in the third quarter of 2023, despite a small increase in revenue and what the company’s Executive Chairman Paul Antony described as a “surprisingly resilient” vehicle market.

The tighter margins contrasted with a vehicle sales environment that’s remained robust despite consumers facing high vehicle prices and elevated interest rates compared to recent years. Alongside its quarterly earnings, AutoCanada also rolled out a new five-year strategic plan dubbed Project Elevate.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 77. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Toronto Stock Exchange: Manulife Financial Corp. and Whitecap Resources Inc. Among Most Active CompaniesTORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (19,587.41, up 57.20 points): Manulife Financial Corp. (TSX:MFC). Finance. Up 75 cents, or 3.01 per cent, to $25.67 on 19.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Continental reports higher earnings, raises outlook for tires businessExplore stories from Atlantic Canada.
La source: SaltWire Network - 🏆 45. / 63 Lire la suite »

Bayer says it will cut management jobs as Q3 earnings dropExplore stories from Atlantic Canada.
La source: SaltWire Network - 🏆 45. / 63 Lire la suite »

Cronos: Q3 Earnings SnapshotTORONTO (AP) — TORONTO (AP) — Cronos Group Inc. (CRON) on Wednesday reported a loss of $1.6 million in its third quarter. On a per-share basis, the Toronto...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »