ECN Capital Corp T.ECN

Alternate Symbol(s): ECNCF | ECNNF | T.ECN.PR.C | T.ECN.DB | T.ECN.DB.A | T.ECN.DB.B

Financial Services

ECN Capital Corp. is a Canada-based company. The Company is a provider of business services to North American banks, credit unions, life insurance companies, pension funds and institutional investors (collectively, its Partners). It originates, manages and advises on credit assets on behalf of its Partners, specifically consumer (manufactured housing and recreational vehicle and marine) loans and commercial (inventory finance or floorplan) loans. The Company operates through two segments: Manufactured Housing Finance, and Recreational Vehicles (RV) and Marine Finance. Its business segment includes Triad Financial Services, Source One Financial, and Intercoastal Finance Group. The Triad Financial Services is a portfolio solutions platform focused on originating and managing longer duration secured consumer loan portfolios for active partner. The Source One Financial originates prime and super-prime loans to consumers to facilitate the purchase of recreational and marine vehicles.

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ECN Capital Corp

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Post by retiredcfon Mar 26, 2023 9:05am

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Post# 35361101

Overreaction?

In light of the nearly 20% decline following the results. GLTA

ECN reported EPS of $0.02, missing estimates of $0.036. Revenue of $52.4M missed estimates of $56.8M. Profit fell from $0.05 in the prior year. Finance originations fell 25%. No material comments were made about the strategic review. Managed assets were $4.4B vs $4.1B. EBITDA was $24.6M vs $31.4M. Because of the review there was no conference call. Although these were not great numbers, we think investors will look beyond these with the review ongoing. (5iResearch)