Tuesday’s small-cap stocks to watch

Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news

Obsidian Energy Ltd. (OBE-T) announced an underwriting agreement to sell, on a private placement basis, $127.6-million aggregate principal amount of 11.95 per cent five-year senior unsecured notes due July 27, 2027.

The notes will be issued at a price of $980.00 per $1,000.00 principal amount to receive aggregate gross proceeds of approximately $125-million, the company stated.

“The notes will be direct senior unsecured obligations of Obsidian Energy ranking equal with all other present and future senior unsecured indebtedness of the company,” it stated.

RBC Capital Markets and BMO Capital Markets are acting as joint bookrunners for the offering.

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Mainstreet Equity Corp. (MEQ-T) reported revenue of $45.7-million for its third quarter ended June 30 versus $40-million a year ago, according to documents filed on Sedar.com.

The expectation was for revenue of $45.4-million in the quarter, according to S&P Capital IQ.

Net profit came in at $21.8-million or $2.34 per share versus $181-million or $19.37 per share a year ago. Mainstreet realized a fair value gain of $10.9-million in the most recent quarter, compared with a fair value gain of $195.8-million for the same period a year ago

Funds from operations came in at $13.5-million or $1.44 per share versus $12-million or $1.29 a year ago, the company said.

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Celestica Inc. (CLS-T) reported revenue of US$1.72-billion compared to US$1.42-billion for the second quarter of 2021. The expectation was for revenue of US$1.67-billion, according to S&P Capital IQ.

Net earnings of US$35.6-million or 29 US cents per share compared to net earnings of US$26.3-million or 21 US cents per share a year ago.

The company also raised its 2022 revenue outlook to “at least US$6.7-billion” and tightened its 2022 non-IFRS adjusted EPS target to between US$1.65 and US$1.75. The expectation is for annual revenue of US$6.6-billion and EPS of US$1.67, according to S&P Capital IQ.

“The above financial guidance and outlook assume that the supply chain constraint impact on our revenue and expenses does not materially grow during the remainder of 2022 as compared to Q2 2022,” the company stated.

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Western Energy Services Corp. (WRG-T) reported that second-quarter revenue of $30.6-million as compared to $20.4-million in the second quarter of 2021.

Net income of $35.4-million or 2 cents per share compared to a net loss of $12.9-million or 14 cents per share a year ago.

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