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Converge Technology Solutions Corp (TSE:CTS)
TSX:CTS
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.13Last Year’s EPS
0.19Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 22, 2019
|% Change Since: -0.57%
|Next Earnings Date:Mar 28, 2019
Earnings Call Sentiment|Neutral
The earnings call reflected a challenging quarter for Converge due to macroeconomic factors affecting revenue and sales. However, the company demonstrated resilience through strong cash generation, debt reduction, and growth in strategic areas like AI, cloud, and cybersecurity. Despite setbacks in professional services and North American demand, Converge's strategic investments and industry recognitions position it for potential recovery and optimism in 2025.Company Guidance
During the Q3 2024 earnings call, Converge reported generating $48.9 million in cash from operating activities and $32.1 million in adjusted EBITDA, resulting in a 152% cash conversion from adjusted EBITDA to operating cash flow. Year-to-date, the company produced $212 million in cash from operations, marking an 85% increase year-over-year, and reduced net debt by $82 million since the start of the year. Converge returned $61.7 million in capital to shareholders via dividends and share buybacks, while gross sales exceeded $3 billion with an organic growth rate of 2%. Despite challenges from lower North American demand affecting data center and device segments, strategic investment areas like AI, cloud, and cybersecurity saw double-digit growth, reinforcing Converge's competitive positioning in a cautious market environment.Strong Cash Generation
Generated $48.9 million in cash from operating activities in Q3, with a 152% cash conversion from adjusted EBITDA to operating cash flow.
Debt Reduction and Shareholder Returns
Reduced net debt by $82 million year-to-date and returned $61.7 million to shareholders through dividends and share buybacks.
Recognition and Awards
Converge was recognized as a CRN Triple Crown Award winner for the third consecutive year and received Ingram Micro's Solution Partner of the Year for North America.
Growth in Strategic Investment Areas
AI, cloud, and cybersecurity grew double digits in Q3, reflecting strategic investment focus.
ERP System Implementation
Successful implementation of a new ERP system in North America, with full completion expected in 2025.
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Converge Technology Solutions Corp (TSE:CTS) Earnings, Revenues Date & History
TSE:CTS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:CTS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | C$3.51 | C$3.72 | +5.98% |
| Aug 08, 2024 | C$4.05 | C$4.08 | +0.74% |
| May 09, 2024 | C$5.67 | C$5.02 | -11.46% |
| Mar 06, 2024 | C$4.82 | C$5.13 | +6.43% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Converge Technology Solutions Corp (TSE:CTS) report earnings?
Converge Technology Solutions Corp (TSE:CTS) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is Converge Technology Solutions Corp (TSE:CTS) earnings time?
Converge Technology Solutions Corp (TSE:CTS) earnings time is at Mar 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:CTS EPS forecast?
TSE:CTS EPS forecast for the fiscal quarter 2024 (Q4) is 0.13.
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