Business
Dexterra Group Announces Results for Q3 2021 and Declares Dividend
Highlights The Corporation generated consolidated revenue of $202.8 million for Q3 2021 wh...
About this update from Dexterra Group, Inc.
[{"type":"text","content":"Dexterra Group Announces Results for Q3 2021 and Declares DividendHighlightsThe Corporation generated consolidated revenue of $202.8 million for Q3 2021 which increased 17% compared to Q2 2021;EBITDA for Q3 2021 was $22.4 million, and after adjusting for wage subsidies included in Q2 2021 of $4.1 million, was higher by $4.1 million, or 22%, when compared to Q2 2021; Net earnings were $7.8 million and basic earnings per share of $0.12 for Q3 2021 compared to net earnings of $8.2 million in Q2 2021 and basic earnings per share of $0.13. Excluding the wage subsidies recorded in Q2 2021, net earnings increased by $3.7 million in Q3 2021 reflecting higher business volumes primarily in WAFES; The Corporation extended its credit facility agreement effective on September 7, 2021 for a three-year term. The amendment increases the available limit from $175 million to $200 million and provides an uncommitted accordion of $125 million. The Company has significant unused credit facilities to execute on its growth strategy with debt at $79.6 million at September 30, 2021;Dexterra Group was selected as the winner of the Avetta Award for Canada's Safest Employer in the Services Sector presented by Canadian Occupational Safety Magazine and Key Media; and Dexterra Group declared a dividend for the fourth quarter of 2021 of $0.0875 per share for shareholders of record at December 30, 2021 to be paid January 17, 2022.Toronto, Ontario--(Newsfile Corp. - November 9, 2021) - Dexterra Group Inc. (TSX: DXT)Third Quarter Financial SummaryThree months ended September 30,Nine months ended September 30,(000's except per share amounts)2021202020212020Revenue$202,760$176,918$531,792$313,397EBITDA(1)(2)$22,372$33,444$62,701$58,477Adjusted EBITDA excluding CEWS(1)$22,372$17,551$53,601$24,870Net earnings(2)(3)(5)(6)$7,764$16,061$20,451$64,451Earnings per share:    Basic & Diluted(4)$0.12$0.25$0.31$1.37 (1) Please refer to \"Non-GAAP measures\" for the definition of EBITDA and Adjusted EBITDA excluding CEWS.(2) Includes nil and $9.1 million of pre-tax Canada Emergency Wage Subsidy for the three and nine months ended September 30, 2021, respectively (2020 - $9.5 million and $28.7 million for the three and nine months ended September 30, 2020 results, respectively). (3) Includes the recognition for the nine months ended September 30, 20...