Overview

* CEMATRIX ( CTXXF ) Q3 revenue increased 51% yr/yr but missed analyst expectations

* Adjusted EBITDA for Q3 rose 150% yr/yr, reaching C$3.5 mln

* Company achieved record year-to-date adjusted EBITDA, surpassing 2023 full-year record

Outlook

* CEMATRIX ( CTXXF ) expects a busy start to Q4, followed by a seasonal slowdown

* Company remains focused on executing its business strategy and growth

* CEMATRIX ( CTXXF ) aims to build on record adjusted EBITDA in Q4

Result Drivers

* NEW CONTRACTS - CEMATRIX ( CTXXF ) secured about C$17 mln in new contracts during Q3, contributing to revenue growth

* REVENUE GROWTH - Revenue increased 51% yr/yr due to higher work volumes and new projects

* WORKING CAPITAL INVESTMENT - Co invested C$4.7 mln in working capital due to increased revenue, expected to reverse later

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss C$15.3 C$17.3

Revenue mln mln (1

Analyst)

Q3 C$3.5

Adjusted mln

EBITDA

Analyst Coverage

* The one available analyst rating on the shares is "buy"

* The average consensus recommendation for the construction materials peer group is "buy"

* Wall Street's median 12-month price target for CEMATRIX Corp ( CTXXF ) is C$0.55, about 31.8% above its November 4 closing price of C$0.38

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)