Consolidated Financial Highlights (unaudited)
(in thousands of dollars except per share amounts)
Three months ended
Six months ended
June 30,2025
June 30,2024
June 30,2025
June 30,2024
Net earnings
21,479
3,159
22,563
2,458
Basic and diluted earnings per share
0.88
0.13
0.93
0.10
Operating Data
Three months ended
Six months ended
June 30,2025
June 30,2024
June 30,2025
June 30,2024
Canadian Full Privilege Golf Members
14,999
15,063
Championship rounds, Canada
405,000
399,000
405,000
399,000
18-hole equivalent championship golf courses, Canada
37.0
35.5
18-hole equivalent managed championship golf courses, Canada
3.5
3.5
Championship rounds, U.S.
46,000
46,000
130,000
136,000
18-hole equivalent championship golf courses, U.S.
6.5
6.5
The following is an analysis of net earnings:
For the three months ended
(thousands of Canadian dollars)
June 30, 2025
June 30, 2024
Operating revenue
$
61,560
$
62,183
Direct operating expenses(1)
47,326
53,049
Net operating income(1)
14,234
9,134
Amortization of membership fees
1,200
1,126
Depreciation and amortization
(3,559
)
(3,681
)
Interest, net and investment income
2,321
2,813
Other items
12,605
(3,902
)
Income taxes
(5,322
)
(2,331
)
Net earnings
$
21,479
$
3,159
For the six months ended
(thousands of Canadian dollars)
June 30, 2025
June 30, 2024
Operating revenue
$
102,324
$
127,529
Direct operating expenses(1)
79,957
