Business: Page 74

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BUSINESS NEWS
AKZO’S ASCENSION AkzoNobel reported its Q4 2022 and full-year 2022 financial results in early February, reporting increased revenues driven by price increases. The company reported a 13 percent revenue increase for 2022, compared to 2021. Pricing was up 14 percent. Operating income for the year was reported at €708 million (2021: €1,118 million), resulting from […]
BUSINESS NIBS
Collision Repair
Tuesday Ticker: Tesla breaks record for most quarterly deliveries; AutoCanada and Kijiji expand partnership
Toronto, Ontario ⁠— In this weekly Tuesday Ticker, Tesla beats Wall Street’s expectations for its Q1 2023 results, while AutoCanada and Kijiji announce and expansion of their partnership.  Tesla beats expectations Tesla reported Q1 2023 production and delivery results Monday morning, beating analyst expectations and setting new records  Tesla says it produced 440,808 new vehicles […]
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EV
Tuesday Ticker: No profit in Ford EV unit until 2026; Tesla shares rise amid Wall Street predictions
Toronto, Ontario ⁠— This weekly Tuesday Ticker is electric, as Ford bares all on its Model e EV unit and Tesla sees a Monday morning boost, courtesy of Wall Street predictions. Ford’s future flub Ford does not expect its electric vehicle (EV) unit to be profitable until 2026, the OEM said last Thursday. Known as […]
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Collision Repair
Up and At ’Em: Boyd Group reports 23.4 percent profit growth in Q4 2022
Winnipeg, Manitoba ⁠— The Boyd Group reported its Q4 2022 results earlier this week, stating net earnings of US$14.2 million during the fourth quarter, up from US$4.9 million a year earlier. Profit for Q4 2022 amounted to 66 cents (USD) per diluted share, up from 23 cents per diluted share in Q4 2021. For the […]
theboydgroup
Collision Repair
Tuesday Ticker: Boyd Group announces Q1 cash dividend, Magna feels effects of rising interest rates
Toronto, Ontario — In this weekly Tuesday Ticker, Boyd Group announces a cash dividend for the first quarter of 2023 and rising interest rates, among other macroeconomic factors, put strain on Magna stocks. Betting on Boyd Boyd Group announced Friday a cash dividend for the first quarter of 2023 of $0.147 per common share. The […]
Ticker(1)
Network
Auctions for Auctioneers: Ritchie Bros acquisition of IAA achieves shareholder approval
Toronto, Ontario — After some bumps along the road of negotiation, the Ritchie Bros acquisition of IAA has been completed following shareholder agreement from both parties. This merger will see IAA stockholders receive $12.80 per share in cash and 0.5252 common shares of Ritchie Bros. for each share of IAA common stock they own. When […]
Enrolment Inefficiency: SAAQ sees glitches and significant delays following digital transformation
Quebec City, Quebec ⁠— The Société de l’assurance automobile du Québec (SAAQ) has been in the grips of a crisis following the provincial insurance board’s digital transition on Feb. 20, 2023. SAAQClic was supposed to move most transactions online, like renewing licenses or paying for driving exams. The transition has not been as smooth as […]
saaqglitch
Tuesday Ticker: Volkswagen to build St. Thomas, Ont. battery plant; Rivian and Amazon reconsider deal
Toronto, Ontario ⁠— In this weekly Tuesday Ticker, we’re covering Volkswagen’s announcement for a Canadian-bound battery plant, plus Rivian’s rumoured reconsideration regarding exclusivity agreements with retail giant Amazon.  Setting up in St. Thomas Volkswagen has chosen St. Thomas, Ont. as the site of its first-ever North American battery cell manufacturing plant.  The company and its […]
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Tuesday Ticker: AutoCanada net income down in Q4 2022; Martinrea reports major gains
Toronto, Ontario ⁠— In this weekly Tuesday Ticker, AutoCanada reports net income decreases⁠ and records in full-year reports, while Ontario auto parts manufacturer Martinrea marks 20 percent gains in Q4 2022 sales. Meanwhile, proxy advisors suggest Ritchie Brothers Auctioneers steers clear of its deal to acquire IAA Inc.  Record highs and lows AutoCanada reported its […]
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Smooth Hailing: AutoCanada acquires DCCHail
Edmonton, Alberta — AutoCanada has acquired paintless dent repair company DCCHail, the multi-location dealer group announced Monday evening. DCCHail touts a national presence, which includes Canada’s largest hail repair facility in Calgary, Alta. “DCCHail has revolutionized the PDR industry with its proprietary technology DCCScan,” wrote AutoCanada in its press release. “DCCScan can inspect and document […]
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Tuesday Ticker: Wall Street speculates Rivian results; Li-Cycle receives loan
Toronto, Ontario ⁠—  In this weekly Tuesday Ticker, analysts speculate Rivian’s impending 2022 Q4 and full year results, while Li-Cycle receives an financial sum from the U.S. Department of Energy. Rivian watch Electric vehicle company Rivian is set to announce its 2022 Q4 and full year results on Tuesday after the markets close.  The company […]
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LKQ to acquire Uni-Select for $2.1 billion
Boucherville, Quebec ⁠— LKQ Corporation and Uni-Select have entered a definitive agreement for LKQ to acquire all of Uni-Select’s issued and outstanding shares for $48.00 per share in cash, representing a total value of approximately $2.8 billion.  Founded in Boucherville, Québec, Canada in 1968, Uni-Select is a leader in the distribution of automotive refinish and […]
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