Exco Techs - EXCOF STOCK NEWS

Exco Technologies Limited (TSX-XTC) announced a quarterly cash dividend of $0.105 per common share to be paid on March 31, 2022. This represents a 5% increase from previous levels, marking the fourteenth increase in the past thirteen years. The dividend is classified as an “eligible dividend” under the Canadian Income Tax Act. Darren Kirk, President and CEO, expressed confidence in Exco's capacity to enhance earnings per share and generate significant free cash flow.

Exco Technologies Limited (OTCQX: EXCOF) reported Q1 fiscal 2022 results, achieving consolidated sales of $101.0 million and EBITDA of $9.3 million. The net income stood at $2.7 million, with an earnings per share (EPS) of $0.07. The company increased its quarterly dividend by 5% to $0.105 per common share. Despite strong liquidity with $11.6 million in net cash, sales were down 17% year-over-year, impacted by supply chain issues, particularly semiconductor shortages.

Exco Technologies Limited held its 2021 annual shareholders' meeting on January 26, 2022, with 25,742,929 Common Shares, or 65.55%, represented. All director nominees were elected by substantial majorities. Darren M. Kirk and Robert B. Magee received 99.4% approval, while Edward H. Kernaghan received 82.3%. The appointment of Ernst & Young, LLP as auditors also passed with 99.5% support. The meeting highlights Exco's commitment to strong governance and shareholder engagement, vital for maintaining its position as a leader in innovative technologies for the die-cast, extrusion, and automotive industries.

Exco Technologies Limited (TSX - XTC) announced plans to report its financial results for the first quarter ending December 31, 2021, on February 2, 2022. A conference call to discuss these results will be held on February 3, 2022, at 10:00 a.m. ET, accessible via audio webcast or telephone. Additionally, the company's Annual Meeting of Shareholders is scheduled virtually for January 26, 2022, at 4:30 p.m. ET. Exco Technologies serves the die-cast, extrusion, and automotive industries, employing approximately 4,900 people across 16 global locations.

Exco Technologies Limited (OTCQX: EXCOF) announced a definitive agreement to acquire Halex Holdings GmbH's extrusion dies business for €40 million (C$58 million). Expected to close in spring 2022, this acquisition enhances Exco's operations in Europe, adding approximately €40 million in annual sales and immediate accretion to earnings per share. With this strategic move, Exco aims to bolster support for global customers and accelerate growth and sustainability objectives, integrating Halex's expertise and production capacity in complex extrusion dies.

Exco Technologies Limited reported $106.4 million in sales for Q4 2021, a 6% increase year-over-year, with annual sales reaching $461.2 million. EPS for Q4 was $0.18, down 33% from the previous year. EBITDA came in at $15.3 million, representing a 14.4% margin. The company ended the fiscal year with a net cash position of $18.6 million. Despite challenges from supply chain disruptions, particularly in the Automotive Solutions segment, Exco anticipates improved vehicle production in the upcoming year.

Exco Technologies Limited announced the opening of a new 40,000 sq. ft. production facility in Kenitra, Morocco, enhancing its Castool division. This facility complements existing operations in Canada and Thailand, allowing better service to customers in Europe, the Middle East, and Africa. The expansion aims to meet increasing global demand for complex tooling, particularly driven by the electric vehicle sector. This marks Exco's 16th strategic manufacturing site, contributing to its growth targets and ESG priorities.