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Western Investment Company Reports First Quarter 2026 Results and Announces Executive Personnel Changes
TORONTO, ON / ACCESS Newswire / May 26, 2026 / The Western Investment Company of Canada Limited (TSXV:WI) ("Western" or the "Corporation") today reported its financial and operating results for the three months ended March 31, 2026. The interim consolidated ...
About this update from Western Investment Company Of Canada Limited
[{"type":"text","content":"TORONTO, ON / ACCESS Newswire / May 26, 2026 / The Western Investment Company of Canada Limited (TSXV:WI) ("Western" or the "Corporation") today reported its financial and operating results for the three months ended March 31, 2026. The interim consolidated financial statements and management's discussion and analysis have been filed on SEDAR+. Unless otherwise indicated, financial figures are expressed in Canadian dollars and comparisons are to the prior period ended March 31, 2025.","length":512,"tagName":"p"},{"type":"text","content":"Highlights","length":10,"tagName":"p"},{"type":"text","content":"The first quarter was highlighted by the sale of Western's investment in GlassMasters Autoglass ("GlassMasters") which closed on February 2, 2026 (the "Transaction"). The Transaction generated net proceeds of $23.3 million for Western, representing approximately 2.5 times the carrying value of the investment at closing and resulting in a gain on sale of $14.4 million. The final purchase price remains subject to customary post-closing adjustments, including working capital true-ups and escrow arrangements.","length":534,"tagName":"p"},{"type":"text","content":"Insurance revenue experienced strong growth in the quarter, increasing to $9.3 million, from $8.2 million in the prior-year period. Growth was primarily driven by higher revenue recognition from longer-term products with multi-year coverage periods.","length":249,"tagName":"p"},{"type":"text","content":"Loss from equity-accounted investments for the quarter ended March 31, 2026 was $1.3 million, compared to a loss of $0.3 million in the comparative period in 2025, and was primarily attributable to expenses at GlassMasters in connection with the Transaction.","length":258,"tagName":"p"},{"type":"text","content":"Net income for the quarter ended March 31, 2026 was $12.5 million or $0.08 per share, compared to a net loss of $1.0 million or $0.01 loss per share in the first quarter of 2025. Western Consolidated Financial Highlights","length":220,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"rowspan":"1","style":"height:16.8pt;padding:1.65pt 3.05pt 0in 5.4pt;width:64%;","val":[]},{"style":"width:1%;","val":[]},{"colspan":"10","style":"border-bottom:1.5pt solid windowtext;text-align:center;width:34%;","val":[{"type...
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