407 International Reports Third Quarter Results
Revenues up 16% compared to third quarter of 2023
TORONTO, Oct. 24, 2024 /CNW/ - Today, 407 International Inc. (the Company) announced financial results for the third quarter of 2024. Reported revenues were $487.1 million, up 16% and net income was $212.3 million, up 16% compared to the same period in 2023. Earnings before interest and other expenses, taxes, depreciation and amortization (EBITDA1) for the third quarter of 2024 totalled $431.0 million, up 16% compared with the same period in 2023.
The average workday trips were 387,432. Total trips during the third quarter were higher by 2% compared to the same period last year. Vehicle kilometres travelled increased by 3% compared to the third quarter of 2023.
The Board of Directors declared an eligible dividend of $0.903 per common share payable on or about November 12, 2024, to shareholders of record on October 24, 2024.
During the third quarter, 407 ETR marked its 25th anniversary with a customer contest, Celebrate 25! Upgrade your Drive. "We're proud to be celebrating 25 years of giving drivers more time for the things that matter most," says Javier Tamargo, President & CEO, 407 ETR. "We want to thank our customers and stakeholders who have been on this journey with us and everyone who took the time to celebrate our milestone anniversary. We received over 225,000 contest entries and participants raised over $40,000 for United Way."
The Company continues to invest in vibrant local communities and youth sports teams through its Keep MovingTM program. At the 407 ETR's Family Weekend at the National Bank Open in August, the Company hosted the 407 ETR Keep Moving Clinic in partnership with Tennis Canada. Athletes with visual impairments from the organization, Change Through Sport, were invited to play on the professional courts and take in a tennis match.
During the third quarter, 407 ETR was proud to receive the 2024 Diversity, Equity and Inclusion (DEI) Award for building diversity and inclusivity on and off the road. This award, presented by the International Bridge, Tunnel and Turnpike Association (IBTTA), honours the most outstanding projects and programs in the international tolling industry.
Highlights(unaudited)
Three-month period ended
Nine-month period ended
September 30
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2024
2023
2024
2023
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