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Spark Power Group Inc. - SKPGF STOCK NEWS

Welcome to our dedicated page for Spark Power Group news (Ticker: SKPGF), a resource for investors and traders seeking the latest updates and insights on Spark Power Group stock.

Spark Power Group Inc. (TSX:SPG) is the parent company of Spark Power Corp., a leading independent provider of end-to-end electrical services and operations in North America. The company focuses on industrial, utility, and renewable asset markets, earning the trust of its customers as their Trusted Partner in Power™. With a commitment to safety and a highly skilled workforce, Spark Power delivers tailored solutions to keep operations running smoothly today and in the future.

Recently, Spark Power reported its financial results, highlighting a focus on executing its Let's Grow Better strategy. Despite challenges, the company is seeing positive momentum, especially in its US business, with ongoing expansion and increasing revenue. Additionally, Spark Power announced its acquisition by a reputable private equity firm, American Pacific Group, LP, to support its long-term growth.

Spark Power remains dedicated to delivering consistent gross margin realization, managing costs, and improving cash conversion. The company's emphasis on new go-to-market strategies and operational efficiency sets the stage for continued success and growth in the power services industry.

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Spark Power renews sponsorship of Racing with Autism and Austin Riley for the 6th year, emphasizing commitment to community, diversity, and inclusivity.
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Spark Power Group Inc. (TSX:SPG) reported a third-quarter gross profit margin of 25.7%, in line with the prior quarter. The company's core business adjusted EBITDA was $5.6 million, with continued progress on net working capital reductions. Spark Power also obtained a waiver of financial covenant breaches. The company has announced its financial results for the three- and nine-month periods ended September 30, 2023. The third-quarter revenue from continuing operations was $63.1 million, representing an 11.0% year-over-year decrease. Gross profit margins were 25.7% in Q3 2023, down from 27.7% in Q3 2022. Adjusted EBITDA was $5.6 million, compared to $9.5 million in Q3 2022. The company has entered into an arrangement agreement to be acquired and taken private by an affiliate of American Pacific Group, LP, which is expected to close on or around December 5, 2023, subject to shareholder approval, final court approval, and other customary closing conditions.
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Spark Power Group Inc. (TSX:SPG) announces the mailing of its notice of meeting, management information circular, form of proxy and letter of transmittal to shareholders in connection with the Special Meeting to consider and approve the proposed plan of arrangement involving Generator-Spark Canada Buyer Inc. and the acquisition of all issued and outstanding common shares of Spark Power for a price of $0.825 per Share. The Arrangement Resolution requires the approval of at least two-thirds of the votes cast by Shareholders at the Special Meeting. The company also received an interim order from the Ontario Superior Court of Justice and conditional approval of the Toronto Stock Exchange for the Arrangement.
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Spark Power Group Inc. (TSX:SPG) to host a conference call on November 15, 2023, to discuss the Company's 2023 third quarter results. The call will be at 8:30 a.m. Eastern Standard Time. Investors and analysts can access the webcast at https://www.webcaster4.com/Webcast/Page/2400/49405.
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Spark Power announces its participation and sponsorship at Dreamer Day, an event hosted by Build a Dream. The event celebrates underrepresented groups in STEM, leadership, and skilled trades.
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Spark Power to participate in Electricity Transformation Canada 2023, showcasing their role in the renewable energy sector
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Spark Power Group announces agreement for all-cash acquisition by Generator-Spark Canada Buyer Inc.
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Spark Power Group Inc. reports its financial results for Q2 2023. Gross profit margins improve to 25.6%. Core Business Adjusted EBITDA is $5.6 million. Net working capital reduces by $2.3 million. Revenue from continuing operations is $66.2 million, a decrease of 6.3% YoY. Gross profit margins are 25.6%, down from 26.0% in Q2 2022. Selling, General and Administration expenses decrease by 5.0% YoY. Adjusted EBITDA is $5.6 million, compared to $6.5 million in Q2 2022. Cash flow from continuing operations is $5.0 million.
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Spark Power Group Inc. to host conference call to discuss 2023 second quarter results
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FAQ

What is the market cap of Spark Power Group (SKPGF)?

The market cap of Spark Power Group (SKPGF) is approximately 56.3M.

What does Spark Power Group Inc. specialize in?

Spark Power Group Inc. is a leading independent provider of end-to-end electrical services and operations to industrial, utility, and renewable asset markets in North America.

What is Spark Power's Let's Grow Better strategy?

Spark Power's Let's Grow Better strategy focuses on expanding sales channels, developing new systems and technologies, and investing in growth opportunities.

Who is acquiring Spark Power Group Inc.?

Spark Power Group Inc. is being acquired and taken private by an affiliate of American Pacific Group, LP, a reputable private equity firm.

How is Spark Power enhancing its operational efficiency?

Spark Power is concentrating on delivering consistent gross margin realization, managing costs, improving cash conversion, and reducing days sales outstanding.

What are Spark Power's recent financial highlights?

Spark Power reported positive momentum in its US business, expansion of sales channels, and the execution of key strategic initiatives in the power services industry.

Where can I find Spark Power Group Inc.'s financial statements?

Spark Power Group Inc.'s financial statements are available on the company's website and will be filed on SEDAR+.

What makes Spark Power unique in the power services industry?

Spark Power stands out with its commitment to safety, highly skilled workforce, tailored solutions, and focus on customer satisfaction as their Trusted Partner in Power™.

What growth opportunities does Spark Power focus on?

Spark Power emphasizes expanding sales channels, developing new technology, and executing its Let's Grow Better strategy for long-term growth and success.

How is Spark Power supporting community initiatives?

Spark Power sponsors Racing with Autism and Austin Riley, championing diversity, contributing to the community, and making a meaningful impact beyond traditional sponsorships.

What can customers expect from Spark Power's sponsorship of Racing with Autism?

Customers can look forward to attending Austin Riley's races, witnessing incredible talent, creating lasting memories, and celebrating his remarkable achievements.

Spark Power Group Inc.

OTC:SKPGF

SKPGF Rankings

SKPGF Stock Data

56.29M
51.57M
30.59%
1.38%
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