Ontario should rejig its programs meant to support the auto industry: CFIB
The CFIB released a report based on a survey of 187 small-to-medium-sized businesses in the auto sector, and found that their revenue has declined by 13 per cent, on average.
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CTV News
34 minutes ago
- CTV News
P.E.I. potato growers are benefiting from a Carney promise. Here's how
Locally harvested potatoes are seen in sacks at a vegetable stand in New Glasgow, P.E.I., Wednesday, Jul 23, 2025. THE CANADIAN PRESS/Giordano Ciampini P.E.I. potatoes are on the move, and it's costing farmers a whole lot less to ship them off the Island. The federal government has slashed Confederation Bridge tolls and ferry fares, delivering a windfall for potato growers whose trucks cross the span each year. 'It was quite refreshing to hear something going down, because when was the last time you heard that? Everything is going up,' said Ray Keenan, co-owner of Rollo Bay Holdings, in Souris, P.E.I. Keenan says it used to cost about $85 for each tractor-trailer to leave the Island. As of Friday, Canada implemented a $20 flat rate for all vehicles, shrinking what some call a 'transport tax.' 'Any time you get a 75 per cent reduction in the cost of something, it does help the bottom line,' Keenan said. The Island is one of Canada's largest potato-producing province, with the industry contributing more than $1.3 billion annually to the local economy. According to the P.E.I. Potato Board, 94 per cent of the Island's potatoes leave by bridge or ferry. The new rates could save the industry $2 million in trucking bills alone. Farmers won't just save on shipments leaving P.E.I., but also on equipment and supplies coming in. Tractors, machine parts and crop production products all must cross the bridge – now at a lower price. Carney announced the changes last week during a visit to Albany, P.E.I., near the bridge itself. 'We're doing that to bring Atlantic Canada closer together, bring Canadians closer together,' Carney said. The long-anticipated changes are in line with campaign commitments Carney made earlier this year to make transportation more affordable across Atlantic Canada in the face of a trade war with the U.S. P.E.I. Potato Board chairman Donald Stavert says the change lightens the load for growers. 'The best part about this is some of the trucking companies would avoid coming to P.E.I. because of the tolls. We're hoping that they will be able to come this way now,' Stavert said. He adds that tariffs are still a big concern, and the industry faces other challenges. But on the Keenan family farm, fields are flowering. Fresh potatoes, pulled from red soil, will soon travel far - for less.
Globe and Mail
2 hours ago
- Globe and Mail
SBAC Earnings Jump on Strong Sales
Key Points Revenue (GAAP) reached $698.98 million, surpassing the analyst estimate by 4.1% (GAAP), driven by robust domestic leasing and higher site development activity. Adjusted Funds From Operations (AFFO) per share was $3.17 (non-GAAP), though down 3.6% year over year due to higher interest expenses. Full-year 2025 guidance for revenue, AFFO (non-GAAP), and Adjusted EBITDA (non-GAAP) was raised on strong backlogs and the early Millicom site acquisition closing. These 10 stocks could mint the next wave of millionaires › SBA Communications (NASDAQ:SBAC), a leading owner and operator of wireless communications towers, announced results for the second quarter on August 4, 2025. GAAP revenue was $698.98 million, above the expected $671.15 million (GAAP) and up 5.8% year over year. Diluted earnings per share (GAAP) were $2.09, above the $2.13 consensus (Non-GAAP) EPS estimate, but net income jumped 41.5% year over year. Adjusted Funds From Operations (AFFO) per share came in at $3.17, though declining from the prior year. Management raised financial guidance for full year 2025 across all key metrics, reflecting strong domestic demand, accelerated site acquisitions, and favorable leasing trends. The quarter showed solid progress in several business lines, despite margin pressures and increased interest costs. Metric Q2 2025 Q2 2025 Estimate Q2 2024 Y/Y Change EPS – Diluted (GAAP) $2.09 $2.13 $1.51 38.5 % Revenue $698.98 million $671.15 million $660.48 million 5.8% Adjusted EBITDA $475.5 million $467.1 million 1.8% AFFO per Share $3.17 $3.29 (3.6 %) Tower Cash Flow $511.2 million $503.9 million 1.4 % Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report. Understanding SBA Communications and Its Business Model SBA Communications owns, operates, and leases wireless tower infrastructure to mobile carriers and other wireless service providers. Its primary business is renting antenna space on its towers, a model that delivers stable, recurring revenue. Site leasing generates most of its operating profit, while the company also provides site development services, such as construction and network upgrades, to wireless carriers. In recent years, SBA Communications has focused on three major areas: expanding its international tower footprint, maximizing tower capacity by increasing colocation (multiple tenants per tower), and securing long-term control of the land under its towers. The company also closely follows wireless technology trends, like the rollout of 5G networks, as these drive demand for more tower space and additional equipment installations. Quarter Highlights: Growth Drivers and Strategic Moves In Q2 2025, site leasing remained the core of SBA Communications' business, accounting for 97.4% of segment operating profit. Domestic site leasing revenue grew to $469.8 million, up 1.4% from a year ago. International site leasing revenue was $162.0 million, a slight decrease on a reported (GAAP) basis, but up 4.0% when adjusting for foreign currency movements. The tower cash flow margin, a key indicator of profitability for tower operations, held steady at 81.0% (non-GAAP). The services segment, which includes site development, saw rapid growth as revenue nearly doubled to $67.2 million. This surge reflects increased carrier investment in network upgrades and new infrastructure. However, these projects have lower margins compared with core site leasing -- the spike in services revenue contributed to an overall decline in company-wide Adjusted EBITDA margin compared to Q2 2024. The company accelerated the integration of more than 4,300 newly acquired sites from the Millicom deal several months ahead of schedule. This brought the total tower count up to 44,065 as of June 30, 2025. It also advanced plans to sell its Canadian tower assets, entering into an agreement on July 21, 2025 to sell all 369 towers and related operations in Canada, with the transaction expected to close in Q4 2025, expecting this divestiture to be immediately beneficial to AFFO per share after closing, as stated by management in the earnings release. These actions demonstrate a strategy of growing internationally while exiting less efficient markets to focus on higher-return regions. Capital allocation remained active, with 799,000 shares repurchased and $1.45 billion authorized for future buybacks. Quarterly dividends held steady at $1.11 per share. The company maintained a high level of debt, with a net debt to adjusted EBITDA ratio of 6.5x, and net cash interest expense rose 23.2% year over year from Q2 2024 to $111.5 million. Management emphasized that the balance sheet remains strong. Strategic Business Areas and Their Impact Site leasing continues to dominate company profits, supported by the recurring nature of tower rental agreements with wireless carriers. This stability is underpinned by long-term contracts. SBA Communications closely monitors lease churn and seeks to add new tenants through strategic marketing and infrastructure upgrades. International expansion is a core strategy. While most new towers come from acquisition -- as with the Millicom deal -- the company also constructs new sites in regions where wireless networks are maturing. Diversifying across 13 countries insulates SBA Communications from market-specific risks and taps into growing demand for wireless infrastructure in developing regions. Maximizing tower capacity is another focus. By increasing the average number of tenants per tower, SBA Communications boosts revenue from existing assets with limited additional cost. About 75% of new U.S. leasing activity in Q1 2025 derived from colocations, which generate higher incremental revenue than simple contract amendments. Often prompted by requirements to meet 5G coverage mandates. The company also invests in long-term land control through ownership and long-term leases. This provides operational security, cost predictability, and margin protection well into the future. About 72% of tower sites are on land with over 20 years of control remaining as of December 31, 2024, and the company reported ongoing spending to extend lease terms where possible. Looking Ahead: Guidance and Market Trends Management raised its full-year 2025 financial outlook, expecting total revenue (GAAP) to reach $2.78–2.83 billion, AFFO per share (non-GAAP) of $12.65–13.02, and adjusted EBITDA of $1.91–1.93 billion. These increases reflect strong current leasing backlogs, robust site development, early benefits from the Millicom site acquisition, and positive foreign currency effects. The Canadian asset sale, which is still pending, is not yet included in the outlook. But overall commentary remains constructive for continued growth in the U.S. Key risks highlighted this period include margin pressures, flat-to-slow international organic growth due to carrier churn in markets like Brazil, and persistently high debt levels that heighten interest expenses. Nonetheless, strong domestic leasing demand, expanding service backlogs, and high levels of tower colocation suggest ongoing near-term growth. SBA Communications does pay a dividend, and the current quarterly dividend remains at $1.11 per share. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,019%* — a market-crushing outperformance compared to 178% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of August 4, 2025
CBC
2 hours ago
- CBC
Ontario-made alcohol gets largest tax cut in decades
Ontario's new alcohol tax cut, which is intended to support local producers, took effect last week. The province says the move will make the industry more competitive amid U.S. tariffs and growing economic pressures.
