ECN Capital Corp. (T:ECN)
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 fiscal year ended 31 December 2023, ECN Capital Corp revenues decreased 21% to $157.1M. Net loss applicable to common stockholders excluding extraordinary items totaled $112.9M vs. income of $1.7M. Revenues reflect Manufactured Housing Finance segment decrease of 20% to $134.6M, RV and Marine Finance segment decrease of 2% to $23.1M. Net loss reflects Transaction and strategic review costs increase of 94% to $11.5M (expense). |
| Employees: | 560 as of Dec 31, 2022 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $1,914M as of Dec 31, 2023 |
| Annual revenue (TTM): | $216.52M as of Dec 31, 2023 |
| EBITDA (TTM): | $38.59M as of Dec 31, 2023 |
| Net annual income (TTM): | -$155.65M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$81.59M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $1,233M as of Dec 31, 2023 |
| Shares outstanding: | 279,946,742 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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