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ADF Group Inc T.DRX

Alternate Symbol(s):  ADFJF

ADF Group Inc. is a Canada-based company. The Company is engaged in the design and engineering of connections, fabrication, including the application of industrial coatings, and installation of complex steel structures, heavy steel-built ups, as well as in miscellaneous and architectural metals for the non-residential infrastructure sector. Its products and services are intended for the five principal segments of the non-residential construction industry: office towers and high-rises, commercial and recreational buildings, airport facilities, industrial complexes, and transport infrastructure. The Company operates two fabrication plants and two paint shops, in Canada and in the United States, and a Construction Division in the United States, which specializes in the installation of steel structures and other related products. It has the capacity to manufacture approximately 125,000 tons of structural steel annually.


TSX:DRX - Post by User

Post by retiredcfon Sep 12, 2024 11:28am
347 Views
Post# 36220421

Earnings Assessment

Earnings Assessment

EPS of $$0.509 beat estimates of $0.39 and revenues of $74.708M missed estimates of $92.6M. Its revenue miss was largely due to one client's delay, but management is still maintaining its objectives from prior quarters. While sales technically declined year-over-year, its gross margins improved substantially from 22.2% in the prior year to 36.9% in the recent quarter. The client's delay did not decrease sales permanently, but rather this $35M will be pushed forward into future quarters. Management has an excellent handle on its costs, and this is driving margin expansion. Its operating cash flows for the quarter improved widely from last year, and overall, the company is in a great financial position. Order backlog totaled $402.3M compared with $373.7M in the prior year. 

The market might not like the delay in revenues due to the one customer, but overall the company continues to execute, and we consider these results to be good. (5iResearch)



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