Mullen Group Ltd (STU:9MU)
€ 10.3 0 (0%) Market Cap: 915.89 Mil Enterprise Value: 1.51 Bil PE Ratio: 11.49 PB Ratio: 1.33 GF Score: 88/100
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Q2 2024 Mullen Group Ltd Earnings Call Transcript

Jul 25, 2024 / 02:00 PM GMT
Release Date Price: €9.55 (+8.52%)

Key Points

Positve
  • Mullen Group Ltd (MLLGF) reported consolidated revenues of $495.6 million, consistent with last year, despite economic headwinds.
  • The company generated OIBDA of $85.7 million, marking the second highest Q2 ever recorded, with an increase of $2.3 million compared to the prior year.
  • Operating margin improved to 17.3% from 16.9% last year, indicating better cost control and efficiency.
  • The acquisition of ContainerWorld contributed significantly to revenue and is expected to enhance profitability in future quarters.
  • Mullen Group Ltd (MLLGF) increased its monthly dividend by nearly 17%, reflecting confidence in its business prospects and strong balance sheet.
Negative
  • Revenue in the Less-than-Truckload (LTL) segment decreased by $3.6 million due to softening freight demand and demarketing underperforming business.
  • The Logistics and Warehousing (L&W) segment faced competitive pricing pressures, leading to a decline in operating margins by 1.8% to 19.2%.
  • Economic activity levels in Canada slowed due to a lack of capital investment in the private sector, impacting overall freight demand.
  • The Specialized Industrial Service segment saw a reduction in revenue from major construction projects, including the completion of the Trans Mountain and Coastal Gas Link Pipeline projects.
  • The US 3PL segment experienced a decrease in revenue by $3.9 million due to lower freight volumes and excess supply of trucking capacity, creating competitive market conditions.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MTL.TO - Mullen Group Ltd
Q2 2024 Mullen Group Ltd Earnings Call
Jul 25, 2024 / 02:00PM GMT

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Conference Call Participants
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* Murray Mullen
Mullen Group Ltd - Chairman of the Board, President, Senior Executive Officer
* Carson Urlacher
Mullen Group Ltd - Senior Accounting Officer
* Konark Gupta
Scotiabank - Analyst
* David Ocampo
Cormark Securities - Analyst
* Richard Maloney
Mullen Group Ltd - Senior Operating Officer
* Cameron Doerksen
National Bank Financial - Analyst
* Walter Spracklin
RBC Capital Markets - Analyst
* John Gibson
BMO Capital Markets - Analyst
* Tim James
TD Cowen - Analyst

=====================
Presentation
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Operator [1]
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