06:52 AM EDT, 05/13/2025 (MT Newswires) -- Aimia ( AIMFF ) on Tuesday said it swung to a surprise profit in the first quarter, even as revenue came in slightly below expectation. The company reiterated its full-year guidance.

For the quarter, the company reported consolidated net earnings of $0.4 million, or $0.55 per share, compared with a net loss of $4.5 million, or $0.09 per share, for the first quarter of 2024. FactSet had forecast a loss of $0.08.

Consolidated revenue rose 6.3% to $129.8 million from $122.1 million, missing a FactSet forecast of $131.3 million

The company said the growth was driven by several factors including the positive impact of foreign currency fluctuations relative to the Canadian dollar and higher contributions from Cortland due to improved customer demand. On a constant currency basis, consolidated revenue was up 2%.

Aimia ( AIMFF ) said its guidance for 2025 is based on the expected performance of the company's core holdings and ongoing cost-cutting initiatives at the Holding Company. To date, it said, the imposition of US tariffs has had limited impact on Aimia's ( AIMFF ) core holdings. It added: "While the outlook remains fraught with uncertainty given the fluid dynamics of global trade, the underlying conditions for Aimia's ( AIMFF ) guidance for 2025 remain in effect. As a result, Aimia ( AIMFF ) has re-iterated its guidance for the year. The corporation will continue to closely monitor global trade developments and their impact on the performance of its core holdings."

The company's forecast for adjusted EBITDA for 2025 for the combined Bozzetto and Cortland businesses represents an expected growth of 13.8% from the mid-point of guidance relative to results for 2024.

"The improved performance of our core holdings combined with reduced Holdco costs and the positive impact of foreign currency fluctuations contributed to Aimia's ( AIMFF ) solid first quarter results," said Rhys Summerton, Aimia's ( AIMFF ) executive chairman. "In particular, consolidated revenue grew to $129.8 million , the highest quarterly total since we completed the acquisitions of Bozzetto and Cortland, while consolidated Adjusted EBITDA improved to $19.7 million due largely to the reduction of Holdco expenses by $10.1 million from last year."

Summerton added, "With a sharper focus on reducing Holdco costs, we expect to build on our first quarter performance through 2025 and beyond. Our near-term focus will also build on recent efforts at enhancing share value. Most notably, we plan to renew our share buyback in June, take measures to reduce the discount of our share price relative to the value of our assets, find ways to efficiently utilize our tax loss carry-forwards, and optimize our corporate structure to become a permanent capital vehicle."

Aimia's ( AIMFF ) shares gained 3.5% on the TSX on Monday.