Glacier releases third quarter financial results. Some highlights from their press release:
“Consolidated revenue for the three months ended September 30, 2024, was $40.2 million, down $2.4 million or 5.7% from the same period in the prior year.”
“Consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for the quarter was $5.9 million, an improvement of $4.6 million from $1.3 million in the comparative quarter.”
“The 5.7% quarter-over-quarter revenue decline was primarily driven by the closure and sale of underperforming print community media operations and the sale of the mining media.”
“Excluding print community media, where the bulk of the restructuring and sales of business occurred, overall revenues increased by 3.5%. Lastly, the mix of revenues shifted between Q3 2023 and Q3 2024; the share of print community media revenues declined from 19.0% of total revenues in 2023 to 11.0% of total revenues in 2024.”
“As at September 30, 2024, the Company had a cash balance of $6.9 million and $6.9 million of non-recourse mortgages (which relate to land for the farm shows in Saskatchewan and Ontario).”
See the full press release here: https://glaciermedia.ca/wp-content/uploads/2024/11/Glacier-Press-Release-Q3-Sept-2024.pdf
Condensed consolidated financial statements: https://glaciermedia.ca/wp-content/uploads/2024/11/Glacier-Media-FS-Q3-Sept-2024.pdf
Management discussion and analysis: https://glaciermedia.ca/wp-content/uploads/2024/11/Glacier-Media-MDA-Q3-Sept-2024.pdf
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