RE:RE:Insiders - Record six-month revenues of $99.4 million, up from $71.1 million y-o-y.
- “Historically high” EBITDA for H1 of $14.2 million
- Net income of $0.9 million for the first half of 2022, versus a loss of $0.4 million in H1 2021.
The numbers are very strong. For investors looking for a dynamic ESG candidate to add to their portfolios, the “outlook” the Company offered in this release is even more encouraging.
Current strong results reflect “the recent acquisition of Cordy during this quarter, robust commodity prices, as well as the gradual return to pre-COVID activity levels across other industries.”
Looking ahead to the second half of 2022, the Company expects “that North American economies will continue to benefit from favourable commodity prices in energy, utilities, agriculture and forestry.”
Further bolstering operations, Vertex has “major capital projects across a diverse sector of industries including midstream, utilities/telecommunications, municipal infrastructure and energy transition in 2022 and 2023.”
Putting this altogether, the Big Picture for Vertex looks very robust.
“With secured backlog reaching record levels, Vertex is well positioned for strong earnings growth for 2022 and 2023. The current trend towards less carbon-intensive energy sources is presenting new opportunities for Vertex.