Andlauer Healthcare Group Reports 2024 Third Quarter Results
TORONTO, Nov. 5, 2024 /CNW/ - Andlauer Healthcare Group Inc. (TSX:AND) ("AHG" or the "Company") today reported its financial results for the three and nine-month periods ended September 30, 2024 ("Q3 2024" and "YTD 2024", respectively).
Q3 2024 Summary
Revenue totaled $159.6 million, an increase of 1.8% from $156.8 million for the three-month period ended September 30, 2023 ("Q3 2023");
Operating income was $23.8 million, an increase of 9.6% compared to $21.7 million in Q3 2023;
Net income totaled $16.3 million, or $0.41 per share (diluted), compared to $15.3 million, or $0.36 per share (diluted), in Q3 2023;
EBITDA¹ totaled $41.3 million, an increase of 5.9% compared to $39.0 million in Q3 2023; and
EBITDA Margin¹ was 25.9%, compared to 24.9% in Q3 2023.
"Our results for the quarter reflect the strong performance of our logistics and distribution and Canadian specialized transportation product lines. Our Canadian ground transportation revenue, excluding fuel, increased by approximately 8.5% in the quarter. This positive momentum was partially offset by the continued impact of the challenging operating conditions on our US-based truckload businesses," said Michael Andlauer, Chief Executive Officer of AHG. "With interest rates easing, we are seeing a more active acquisition market. We are well positioned with a strong balance sheet to capitalize on opportunities to expand our platform."
Selected Consolidated Financial Summary
Three months ended
September 30,
Nine months ended
September 30,
($CAD 000s, except per share amounts)
2024
2023
Variance
2024
2023
Variance
Revenue
Logistics and distribution
40,950
38,356
6.8 %
118,331
118,317
0.0 %
Packaging solutions
3,121
3,746
(16.7) %
12,849
13,492
(4.8) %
Healthcare Logistics segment
44,071
42,102
4.7 %
131,180
131,809
(0.5) %
Ground transportation
104,349
103,856
0.5 %
315,743
315,567
0.1 %
Air freight forwarding
7,740
7,362
5.1 %
23,653
22,582
4.7 %
Dedicated and last mile delivery
18,768
17,027
10.2 %
54,842
50,497
8.6 %
Intersegment revenue
(15,328)
(13,593)
12.8 %
(43,234)
(41,570)
4.0 %
Specialized Transportation segment
115,529
114,652
0.8 %
351,004
347,076
1.1 %
Total revenue
159,600
156,754
1.8 %
482,184
478,885
0.7 %
Operating expenses
135,794
135,030
0.6 %
414,960
410,876
1.0 %
Operating income
23,806
21,724
9.6 %
67,224
68,009
(1.2) %
Net income
16,286
15,335
6.2 %
46,940
47,579
(1.3) %
Foreign currency translation adjustment
(3,170)
4,812
N/A
4,703
(427)
N/A ...