AUTOCANADA REPORTS RECORD FIRST QUARTER RESULTS - Revenue was $1,342.4 million as compared to $969.8 million in the prior year, an increase of 38.4% and the highest first quarter revenue reported in the Company's history
- Net income for the period was $4.3 million versus $21.3 million in the prior year and includes a loss on extinguishment of embedded derivative of $(29.3) million and a loss on extinguishment of debt of $(9.9) million in Q1 2022
- Adjusted EBITDA1 was $62.2 million versus $47.2 million in the prior year, an increase of 31.7%; normalized increase of 60.6% as compared to prior year normalized adjusted EBITDA1 of $38.7 million
- Adjusted EBITDA margin1 was 4.6% versus 4.9% in the prior year, a decrease of (0.3) percentage points; normalized increase of 0.6 percentage points as compared to prior year normalized adjusted EBITDA margin1of 4.0%
- Diluted earnings per share was $0.10, a decrease of $(0.61) from $0.71 in the prior year
- Indebtedness of $358.5 million at the end of Q1 2022 compares to $285.9 million at the end of Q4 2021
- Net indebtedness1 of $248.8 million at the end of Q1 2022 compares to $212.7 million at the end of Q4 2021
EDMONTON, AB, May 4, 2022 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North American automobile dealership group, today reported its financial results for the three month period ended March 31, 2022.