06:59 AM EST, 03/06/2024 (MT Newswires) -- National Bank noted that Andlauer Healthcare Group Inc. ( ANDHF ) overnight Tuesday fourth-quarter results that were "modestly above NBF and consensus forecasts."

"We maintain our Sector Perform rating on Andlauer Healthcare Group ( ANDHF ) while we review our model. We are encouraged by a return to positive y/y revenue growth (after declines in Q2 and Q3) as well as the solid margin performance in the quarter," the analysts said.

Andlauer Healthcare Group ( ANDHF ) reported Q4 earnings of $18.6 million, or $0.44 per diluted share, down from $19.8 million, or $0.46 per diluted share, a year earlier.

Revenue for the quarter ended Dec. 31, 2023, was $169.1 million, up from $165.8 million a year earlier. Analysts polled by Capital IQ expected $165.5 million.

The increase was mainly driven by organic growth in the company's Canadian specialized transportation product lines, partially offset by lower fuel surcharge revenue, a decline in US-based truckload rates, and reduced revenue related to COVID-19 vaccines and ancillary products.

EBITDA for Q4 was $44.8 million versus $44.7 million a year earlier. The company paid a dividend of $0.09 per subordinate voting share and multiple voting share on Jan. 15.

"AND will continue to benefit from positive secular growth drivers in the healthcare transportation/logistics market, and we also believe more favourable pricing dynamics could emerge in the company's U.S. businesses this year," the analysts added.

National Bank expects the company to provide more details on its outlook and M&A prospects during its conference call. National Bank has a C$46 price target on the company's shares.