Transcontinental Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended July 29, 2018. For the quarter, the company reported revenues of CAD 757.9 million compared to CAD 477.7 million a year ago. This increase was slightly mitigated by the sale of local and regional newspaper media assets in Québec and the sale of the printing activities of Fremont, California, plant. Operating earnings before depreciation and amortization were CAD 89.7 million compared to CAD 93.7 million a year ago. Operating earnings were CAD 39.6 million compared to CAD 68.2 million a year ago. Earnings before share of net earnings in interests in joint ventures and income taxes were CAD 25.1 million compared to CAD 64.3 million a year ago. Net earnings were CAD 19.3 million or CAD 0.22 per basic and diluted share compared to CAD 49 million or CAD 0.64 per basic and diluted share a year ago. Cash flows from operating activities were CAD 77.1 million compared to CAD 73 million a year ago. Acquisitions of property, plant and equipment were CAD 19.5 million compared to CAD 7.7 million a year ago. Increase in intangible assets was CAD 9 million compared to CAD 3.7 million a year ago. Adjusted operating earnings before depreciation and amortization was CAD 116.4 million against CAD 95.4 million a year ago. Adjusted operating earnings was CAD 84.7 million against CAD 74.2 million a year ago. Adjusted net earnings was CAD 52.1 million or CAD 0.59 per share against CAD 52.9 million or CAD 0.68 per share a year ago.

For the nine months, the company reported revenues of CAD 1,794.3 million compared to CAD 1,480 million a year ago. Operating earnings before depreciation and amortization were CAD 383.1 million compared to CAD 276.9 million a year ago. Operating earnings were CAD 262.1 million compared to CAD 198.4 million a year ago. Earnings before share of net earnings in interests in joint ventures and income taxes were CAD 241.6 million compared to CAD 185 million a year ago. Net earnings were CAD 146.4 million or CAD 1.81 per diluted share compared to CAD 138.1 million or CAD 1.78 per diluted share a year ago. This increase is mostly attributable to the growth in operating earnings, partially offset by higher income taxes and financial expenses Cash flows from operating activities were CAD 223.2 million compared to CAD 212.7 million a year ago. Acquisitions of property, plant and equipment were CAD 37.6 million compared to CAD 24.5 million a year ago. Increase in intangible assets was CAD 16.9 million compared to CAD 13.9 million a year ago. Adjusted operating earnings before depreciation and amortization was CAD 297.1 million against CAD 273.4 million a year ago. Adjusted operating earnings was CAD 225.2 million against CAD 208.3 million a year ago. Adjusted net earnings was CAD 152.4 million or CAD 1.89 per share against CAD 142.7 million or CAD 1.85 per share a year ago. Net indebtedness was CAD 1,478.3 million against CAD 101.2 million a year ago.

For the quarter, the company reported impairment of assets of CAD 2.9 million.

For the year 2018, The company expects tax rate to be close to 27%.