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  ...