ECN Capital Reports US$0.03 in Adjusted Net Income per Common Share in Q1-2025

Core Viewpoint - ECN Capital Corp. reported strong financial results for Q1 2025, achieving adjusted net income at the top end of guidance, demonstrating resilience amid market volatility [3]. Financial Performance - Adjusted net income applicable to common shareholders for Q1 2025 was $7.2 million or $0.03 per share, compared to $4.4 million or $0.02 per share in the previous quarter and a net loss of $0.3 million in the same period last year [2]. - Adjusted EBITDA for Q1 2025 was $25.5 million, an increase from $24.1 million in the previous quarter and $21.8 million in the same period last year [5]. - Managed assets as of March 31, 2025, were $7.2 billion, up from $6.9 billion at the end of 2024 and $5.2 billion a year earlier [5]. Originations - Total originations for Q1 2025 were $538.2 million, slightly down from $547.6 million in the previous quarter but up from $468.4 million in the same period last year [4]. - The originations included $332.8 million from the Manufactured Housing Finance segment and $205.4 million from the Recreational Vehicle and Marine Finance segment [4]. Operating Expenses and Losses - Operating expenses for Q1 2025 were $29.4 million, a decrease from $31.2 million in the previous quarter and an increase from $27.8 million in the same period last year [6]. - The net loss attributable to common shareholders for Q1 2025 was $2.5 million, an improvement from a loss of $3.9 million in the previous quarter and $8.5 million in the same period last year [6]. Dividends - The Board of Directors declared a quarterly dividend of C$0.01 per common share, to be paid on June 30, 2025, to shareholders of record on June 13, 2025 [7]. - A quarterly dividend of C$0.4960625 per outstanding Cumulative 5-Year Rate Reset Preferred Share, Series C, was also declared for the same payment date [8]. - Additionally, a semi-annual dividend of C$0.0603 per outstanding Mandatory Convertible Preferred Share, Series E, was declared [9]. Company Overview - ECN Capital Corp. is a leading provider of business services to institutional investors, insurance companies, pension plans, banks, and credit unions, with managed assets of US$7.2 billion [15]. - The company focuses on originating, managing, and advising on credit assets, specifically in consumer loans related to manufactured housing and recreational vehicles, as well as commercial loans [15].