Exco Techs - EXCOF STOCK NEWS

Exco Technologies Limited (TSX – XTC, OTCQX-EXCOF) announced it will release its financial results for the second quarter ending March 31, 2023, on April 27, 2023, after market close. Following the results, management will hold a conference call on April 28, 2023, at 10:00 a.m. to discuss the performance. Interested parties can access the live audio webcast on the company's website. An archived version of the call will be available until May 15, 2023. Exco Technologies is a global supplier serving the die-cast, extrusion, and automotive industries, operating across 20 locations in 9 countries with approximately 5,000 employees.

Exco Technologies Limited (OTCQX: EXCOF) announced the approval of a normal course issuer bid (NCIB) by the Toronto Stock Exchange. The company plans to repurchase up to 1,785,000 common shares from February 20, 2023, to February 19, 2024, representing 10% of its public float of 17,850,596 shares. With an average daily trading volume of 20,018 shares, Exco can repurchase a maximum of 5,005 shares per trading day. The repurchase is aimed at enhancing shareholder value, as the Board believes the market may not reflect the company's true value. Exco has previously repurchased 185,033 shares at an average price of $8.62.

Exco Technologies Limited reported strong financial performance for the first quarter of fiscal 2023, ending December 31, 2022. Consolidated sales reached $139.1 million, a 38% increase from the previous year. Net income was $4.5 million with earnings per share (EPS) of $0.12, up from $2.7 million and $0.07 EPS in the same quarter last year. EBITDA also rose to $15.2 million, compared to $9.3 million in the prior year. The Automotive Solutions and Casting and Extrusion segments reported sales increases of 27% and 50%, respectively. The company declared a quarterly dividend of $0.105 per common share payable on March 31, 2023.

Exco Technologies Limited (OTCQX: EXCOF) held its 2022 annual meeting on January 25, 2023, with 25,271,737 shares (64.95%) voted. All director nominees were elected by a significant majority, with Edward H. Kernaghan receiving 93.9% of votes in favor. Other nominees included Darren M. Kirk (92.3%), Robert B. Magee (99.8%), Colleen M. McMorrow (99.7%), Paul E. Riganelli (90.9%), and Brian A. Robbins (88.6%). The appointment of Ernst & Young, LLP as auditors was also approved with a 96.6% approval rate. This event reflects strong shareholder support for the current board and management team.

Exco Technologies Limited (OTCQX-EXCOF) announced recovery efforts from a cyber incident affecting three of its production facilities within the Large Mould Group. The company has temporarily disabled certain systems to investigate the breach, yet all other operations remain unaffected. Independent experts are assisting with the recovery, and Exco expects operations to substantially resume in two weeks. While the full financial impact is under assessment, customer shipments have not been materially interrupted. The company reiterates its commitment to data security during this challenging period.

Exco Technologies Limited (TSX - XTC) will release its financial results for the first quarter ending December 31, 2022, on January 31, 2023. A conference call is scheduled for February 1, 2023, at 10:00 a.m. to discuss these results. Interested participants can join the call via provided links, with an archived version available until February 15, 2023. Additionally, the Annual Meeting of Shareholders will be held virtually on January 25, 2023, at 4:30 p.m. Exco Technologies is a leading global supplier for the die-cast, extrusion, and automotive industries, employing around 5,000 people.

Exco Technologies reported strong fourth quarter results for the period ending September 30, 2022, with consolidated sales of $140.4 million, a 32% increase from the prior year. Net income was $5.6 million or $0.14 per share. EBITDA rose to $16.5 million from $15.3 million year-over-year. The Automotive Solutions segment grew 16% in sales, while the Casting and Extrusion segment saw a 50% increase. The company continues its growth strategy, deploying $52.7 million in capital spending and announcing a quarterly dividend of $0.105 per common share.