AutoCanada Inc. (TSE:ACQ) has released an update.
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AutoCanada Inc. reported a decline in its first quarter results, with revenue dropping 7.7% to $1,420.9 million and net income falling 128.2%, resulting in a $2.4 million loss. The diluted loss per share was $0.10, and adjusted EBITDA decreased by $23.0 million from the previous year. Despite these challenges, the company is implementing strategies to improve future profitability, including restructuring operations and optimizing cost structures.
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