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CAE Inc.’s CAE-T share price surged after the company reported strong civil and defence performance in its second quarter results. The Montreal-based builder of flight and health simulators saw its share price increase 18.17 per cent to $28.42 on the TSX at midday trading. CAE says net income attributable to equity holders was $44.5-million, or 14 cents per share for the quarter ended Sept. 30, up from $14.0-million or 4 cents per share in the same quarter last year. CAE attributes a strong consolidated-level performance in the second quarter to double-digit growth in the civil segment, better results in defence and renewed profitability in healthcare. The company reaffirmed its outlook for the fiscal year after reducing the compound growth rate to mid-20 per cent last quarter. On an adjusted basis, it earned 19 cents per share and $993.2-million in revenue, compared to an average analyst expectation of 17 cents per share and $949-million, according to estimates compiled by financial...

Algonquin Power & Utilities Corp. AQN-T reported a $195.2-million loss in its latest quarter and cut its financial guidance for the year. The power utility, which keeps its books in U.S. dollars, says it lost 29 cents per share for the quarter ended Sept. 30 compared with a loss of US$27.9-million or five cents per share in the same quarter last year. Revenue totalled US$666.7-million, up from US$528.6-million a year earlier. On an adjusted basis, Algonquin says it earned 11 cents per share in its latest quarter compared with an adjusted profit of 15 cents per share in its third quarter of 2021. In its outlook, the company says it now expects adjusted net earnings per share for 2022 in a range of 66 cents to 69 cents compared with earlier expectations for between 72 cents and 77 cents. Algonquin says it updated its guidance due to higher interest rates and inflation, delays in the construction and completion of some of its renewable energy projects, and anticipated delays in conn...

NFI Group Inc. NFI-T reported a loss of US$42.6-million in its latest quarter compared with a loss of US$15.4-million in the same quarter last year as its revenue edged higher. NFI chief executive Paul Soubry says the results reflect the ongoing impacts of unreliable supplier performance, associated production inefficiencies and heightened inflation on input costs. The bus maker, which keeps its books in U.S. dollars, says the loss amounted to 56 cents per share for the company’s third quarter compared with a loss of 22 cents per share a year earlier. Revenue for the quarter totalled US$514.0-million, up from US$492.0 in its third quarter of 2021. On an adjusted basis, NFI says it lost 63 cents per share in its latest quarter compared with an adjusted loss of 16 cents per share in the same quarter last year. The company says it is in talks with Export Development Canada, the Manitoba government and other banking syndicate members regarding credit facility covenant relief and potentia...

Roots Corp. ROOT-T says it earned about $2.2 million in its latest quarter as sales dropped by 8.5 per cent since the same time last year. The Toronto clothing retailer says its net income for the third quarter fell from $10.8 million a year ago. The decrease amounted to a fall from 25 cents to five cents in earnings per share over the year. Analysts on average had expected a profit of 19 cents per share and $8.1 million in net income, according to financial markets data firm Refinitiv. Sales for the quarter totalled $69.8 million, down from $76.3 million a year earlier. Chief executive Meghan Roach says the quarter brought “more pronounced” discounting and a focus on lifestyle products instead of casual fleece wear as people returned to offices and events. “We are continuing to strategically manage our core inventory to maintain our promotional discipline; however, we expect these factors to continue impacting our sales and margins in the near term,” she wrote in a news release. ...

Oil prices were steady after hitting a three-week high on Tuesday as restarts at some U.S. energy plants shut by winter storms offset gains stemming from hopes of a demand recovery as China eases its COVID-19 restrictions. Brent crude was up 41 cents, or 0.5%, at $84.33 a barrel, while U.S. West Texas Intermediate crude settled 3 cents lower at $79.53 per barrel. Both benchmarks hit their highest level since Dec. 5 earlier in the session. UK and U.S. markets were closed on Monday for the Christmas holiday. Refineries along the Gulf Coast began to resume operations and ramp up production after an Arctic blast sent temperatures well below freezing and led to power, instrumentation and steam losses at facilities along the U.S. Gulf Coast. The cold also cut oil and gas production from North Dakota to Texas. Output of about 450,000-500,000 barrels of oil per day was curtailed over the Christmas weekend in the Bakken oilfields, the North Dakota Pipeline Authority said, adding that operator...