ECN Capital Corp. (T:ECN*CA)
Business Focus: Corporate Financial Services (NEC)
| Sector: Financials | Industry: Corporate Financial Services |
| Company Contact | |
| Address: | 161 Bay Street, Suite 2800 TORONTO ON M5J 2S1 |
| Tel: | N/A |
| Website: | https://www.ecncapitalcorp.com |
| IR: | See website |
| Key People | ||
| Steven K. Hudson Chief Executive Officer, Director | Jacqueline Weber Chief Financial Officer | Michael Tolbert President of Triad Financial Services |
| John B. Wimsatt Chief Investment Officer | Matthew Heidelberg Chief Operating Officer of Triad Financial Services | Algis Vaitonis Chief Credit Officer |
| Business Overview |
| ECN Capital Corp. is a Canada-based provider of business services to North American banks, credit unions, life insurance companies, pension funds and institutional investors (collectively, its Partners). The Company originates, manages and advises on credit assets on behalf of its Partners, specifically consumer (manufactured housing and recreational vehicle and marine) loans and commercial (inventory finance or floorplan) loans. The Company operates through two segments: Manufactured Housing Finance, and Recreational Vehicles and Marine Finance. It operates through three businesses: Triad Financial Services, which manufactures home loans; Source One Financial, which is engaged in nationwide marine and RV lending; and Intercoastal Finance Group, which is engaged in national marine and RV lending. It provides prime credit portfolio solutions: Secured consumer loan portfolios, which manufactures home loans, and Secured consumer loan portfolios, which provides marine and RV loans. |
| Financial Overview |
| For the three months ended 31 March 2024, ECN Capital Corp revenues increased 2% to $48.7M. Net loss applicable to common stockholders decreased 59% to $8.5M. Revenues reflect RV and Marine Finance segment increase of 11% to $5.8M, Manufactured Housing Finance segment increase of less than 1% to $42.8M. Lower net loss reflects Asset disposal , litigation and corporat decrease from $11.4M (expense) to $0K. |
| Employees: | 560 as of Dec 31, 2022 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $1,929M as of Mar 31, 2024 |
| Annual revenue (TTM): | $215.83M as of Mar 31, 2024 |
| EBITDA (TTM): | $37.06M as of Mar 31, 2024 |
| Net annual income (TTM): | -$137.41M as of Mar 31, 2024 |
| Free cash flow (TTM): | $87.52M as of Mar 31, 2024 |
| Net Debt Last Fiscal Year: | $873.09M as of Mar 31, 2024 |
| Shares outstanding: | 279,946,742 as of Mar 31, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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