) jumped in the wake of raising its quarterly dividend on Tuesday after the integrated oil and gas firm beat estimates for third-quarter profit, as it benefited from higher oil production and demand for refined products.
Its total oil sands bitumen production in the quarter ended Sept. 30 was at 909,600 bpd, up 15.6 per cent from the previous year. Mr. Parent is widely credited with expanding CAE’s business model from an industrial company focused on manufacturing flight simulators to a service company that trains pilots, both civil and military. The company’s revenue has nearly doubled under his tenure to $4.3-billion and the share price has more than tripled.
The company says the profit amounted to 14 cents per share for the quarter ended Sept. 30 compared with a loss of four cents per share a year earlier.On an adjusted basis, Maple Leaf says it earned 18 cents per share in its latest quarter compared with an adjusted profit of 13 cents per share in the same quarter last year.
“This partnership and this deal secures the capital for us to ensure that we can’t only take Rivian through the launch of R2 at Normal, but secures the launch of and growth of R2 in our Georgia facility and through cash flow positive for us as a business,” Rivian CEO RJ Scaringe told reporters. Same-store sales in the food retail segment grew 0.5 per cent in the third quarter, compared with 4.5 per cent a year ago.
Power Corp., which holds a 68.2-per-cent interest in Great-West Lifeco, says that company’s net earnings from continuing operations were $859 million, down from $936 million during the same quarter last year.
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