WestJet reports ‘disappointing’ $20.8-million second-quarter loss

Increasing aircraft fuel prices, severe weather-related events and the threat of a pilot strike all played roles

WestJet reports ‘disappointing’ $20.8-million second-quarter lossWestJet closed out its second quarter with a reported net loss of $20.8 million. The Calgary-based airline attributed the hit to “numerous challenges” faced during the first half of the year, including increasing aircraft fuel prices, severe weather-related events, and the impact of the threat of a pilot strike. WestJet president and CEO Ed Sim said…

Vermilion Energy production up 15% in second quarter

Greater production volumes and higher commodity prices resulted in $193 million in fund flows from operations

Vermilion Energy production up 15% in second quarterCalgary-based Vermilion Energy Inc. announced on Monday that production increased by 15 per cent in the second quarter to 80,625 barrels of oil equivalent per day (boe/d). Greater production volumes and higher commodity prices resulted in $193 million in fund flows from operations in the second quarter, marking a 23 per cent increase from the…

Imperial Oil net earnings hit nearly $200 million in quarter

Company enjoyed its highest quarterly sales volumes in nearly 30 years

Imperial Oil net earnings hit nearly $200 million in quarterEnergy giant Imperial Oil reported on Friday that its second quarter earnings reached $196 million, an increase of $273 million compared to the net loss of $77 million in the same period of 2017. It said the quarter was characterized by significant planned maintenance at its major upstream and downstream assets. These activities affected operational…

Suncor net earnings reach $972 million in second quarter

The company’s Fort Hills project continues to ramp up ahead of schedule

Suncor net earnings reach $972 million in second quarterCalgary-based energy giant Suncor had net earnings of $972 million in the second quarter, up from $435 million for the same period in 2017. “Suncor generated the strongest second quarter cash flow on record, with funds from operations of $2.9 billion and operating earnings of $1.2 billion,” said Steve Williams, president and chief executive officer,…

Sask’s Thunderchild First Nation invests $8 million with Westleaf Cannabis

Westleaf plans about 175,000 square feet devoted to production and manufacturing

Sask’s Thunderchild First Nation invests $8 million with Westleaf CannabisCalgary-based Westleaf Cannabis Inc. has received an $8-million investment from Saskatchewan’s Thunderchild First Nation. In a news release, the company said the investment makes Thunderchild the largest shareholder of Westleaf, and is accompanied by a seat being allocated to Chief Delbert Wapass on the company's board of directors. “Since its inception, Westleaf has firmly believed…

Revenues rise but net income dips for Canadian Pacific Railway

Second quarter financial report reflects service interruptions related to labour negotiations but tentative long-term deals are now in place

Revenues rise but net income dips for Canadian Pacific RailwaySecond quarter revenues for Calgary-based Canadian Pacific Railway Ltd. hit $1.75 billion from $1.64 billion last year. The company, in releasing its quarterly financial report on Wednesday, said revenues rose by seven per cent from a year ago. It also reported that diluted earnings per share  of $3.04, or $3.16 on an adjusted diluted earnings…

Mainstreet Equity reports ‘promising’ results

Rental revenue increases, vacancy rate drops despite lingering economic uncertainty in Alberta

Mainstreet Equity reports ‘promising’ resultsCalgary-based Mainstreet Equity Corp. saw rental revenue increase and its same asset vacancy rate drop in the third quarter of its fiscal year. The company, which is an add-value, mid-market consolidator of apartments in Western Canada, reported on Tuesday that rental revenue increased 11 per cent to $29.3 million in the quarter, which ended June 30.…

Foreign investors continue to shun Canada; Canadians investing abroad

Foreign investment in Canadian securities was $2.2 billion in May, the lowest level so far in 2018. Canadians add $5.7 billion worth to their foreign holdings

Foreign investors continue to shun Canada; Canadians investing abroadForeign investment in Canadian securities slowed to $2.2 billion in May, down from $9.1 billion in April but Canadian investors resumed their investment in foreign securities by adding $5.7 billion worth to their holdings, mainly in foreign bonds, says Statistics Canada. “The investment pattern in May, both inward and outward, reflected acquisitions of bonds and…

Tim Hortons rolling up the rim to win over China

The decision to export the Canadian corporate icon is a very aggressive global extension strategy that could pay off

Tim Hortons rolling up the rim to win over ChinaTim Hortons is going where the growth is: China. The Canadian institution announced it will expand its portfolio of 4,700 restaurants by signing a joint venture partnership with a Chinese-based equity firm. Tim Hortons has locations in the United States, the Arab Emirates, the Philippines and the United Kingdom. And it intends to open 1,500…

Postmedia suffers $15.5-million quarterly loss

Newspaper giant says it will continue to cut costs to address revenue declines in its legacy print business

Postmedia suffers $15.5-million quarterly lossCanadian newspaper giant Postmedia suffered $15.5-million net loss in its third quarter, which ended May 31. The chain said on Wednesday that the loss, which included a $9.4 million non-cash impairment charge, compared to net earnings of $13 million in the same period in 2017. “The change was primarily the result of an increase in…
1 16 17 18 19 20 22