With the markets maintaining a downward trajectory its hard to stay engaged in investing and it can be downright depressing. I know I am not following the markets as much as in the past because its discouraging seeing my money disappear. This week, rather than talk about the market, I have decided to talk about what one of the things I look for when searching for companies to own – tailwinds.
Tailwinds
If you have ever flown, you have probably heard the terms headwinds and tailwinds. Tailwinds propel a plane forward faster, helping them burn less fuel and possibly arriving at their destination sooner. Headwinds slow the plane down, causing it to burn more fuel and possibly arriving late at their destination. In investing, tailwinds are conditions or trends that will continue through economic ups and downs and help boost a company’s revenues, profitability, and share price. Headwinds, on the other hand, function as a drag on a company and can slow down or even cause growth to decline. Obviously, you want to invest in companies that are benefiting from one or more tailwinds and avoid headwinds as much as possible. Unfortunately, some headwinds you cannot avoid. Let’s take a look at how these ‘winds’ can impact your wealth generation plans. This week I am going to talk about how I have used tailwinds when selecting companies to invest in.
The tailwind is your friend, an even better friend when you can ride multiple tailwinds.
When I got back into investing in 2018, before I started looking for companies to invest in, I looked for tailwinds, or industries that had trends that could boost a company’s earnings and share price. Once I identified a few tailwinds, I looked for the best companies to take advantage of those tailwinds. If the company was riding more than one tailwind, all the better.
One of the first tailwinds I came across was the demand for chips (of the silicon variety, not the potato kind). Cloud computing was and remains all the rage, artificial intelligence was and continues to improve and expand, the growing demand for electric and autonomous vehicles, the rollout of 5G networks, and the metaverse is supposedly the next big thing (each of these can be seen as a tailwind). Rather than try to pick a top company in each area, I focused on what they had in common – semiconductors, or chips. With that in mind I went looking for semiconductor companies. I ended up investing in Nvidia (NYSE:NVDA), Skyworks Solutions (NASD:SWKS) and Lattice Networks (NASD:LSCC). The tailwinds behind the semiconductor industry are tremendous and all three companies have done very well, and I expect them to continue to ride the numerous tailwinds that drive the demand for semiconductors.
Another industry that has quietly picked up a tailwind is cybersecurity. Cybersecurity was on my radar but not really front and centre. It came to the forefront in mid 2020 when a friend was almost the victim of a computer fraud attack. With increased numbers of people working from home (work from home tailwind) during the Covid-19 pandemic, governments, companies, and individuals suddenly had many more systems to protect. Cyberattacks range from malware to ransomware to state sponsored hacking. The Russian invasion of Ukraine has only heightened the threat of cyberattacks and the need for governments and businesses to up their security game.
After identifying the cybersecurity tailwind, I contacted a friend in the computer security industry to get some insight into the top cybersecurity companies. I decided to become a minority owner 😊 of Crowdstrike (NASD:CRWD) and Cloudflare (NYSE:NET). Crowdstrike has evolved into a cloud-based security platform (there is that cloud trend again, another trend within the cybersecurity trend) with multiple market opportunities. Cloudflare also provides network security solutions, as well as Content Delivery Services (CDN), a geographically distributed group of computer systems which “work together to provide fast delivery of Internet content.” I even started using Cloudflare’s free Virtual Private Network (VPN) client Warp 1.1.1.1 to protect my data when I access the Internet. Both companies continue to ride the tailwind of the need to secure remote workers, within the larger cybersecurity tailwind. So far 2022 has been a rough year for all technology companies, including cybersecurity companies, but the demand for cybersecurity remains.
In summary, I try to identify tailwinds and then find the top companies riding those tailwinds. Great companies will do well in the long run but if they can ride a tailwind or two, they will generate better earnings and their share price will rise higher, faster. Next time I will talk about headwinds which can slow the growth of investments and even cause your portfolio to decline.
Now, let’s see what happened with the markets and the Portfolios this past week …..
Weekly Market Review
Monday: The four major North American Indexes, the Toronto Stock Exchange Composite Index (TSX), the S&P 500 Index (S&P), the Dow Jones Industrial Average (DJIA), and the Nasdaq Composite Index (Nasdaq), started the day lower before a late afternoon rally by the beaten down big technology companies pushed the three American Indexes into the black, with the TSX ending just under the bar.
Tuesday: All four Indexes went on a bit of a roller coaster ride today, ending the day slightly higher thanks to gains in the Energy, Basic Materials and Financials sectors. In the US, the Federal Reserve (Fed) is in the middle of a two-day meeting where they will set the US interest rates going forward. It is widely expected to be a .5% increase, bringing the rate to 1% (the same as the rate in Canada). What will be of most interest is what the Fed hints at for the rest of the year.
Wednesday: UP! That is the word for the day as all four Indexes ended the day higher. In the US, the big news was the Fed did as expected and increased the interest rate by .5% (the largest raise in 22 years), and similar sized increases are likely to follow throughout the year. Once the fear of a higher-than-expected hike was gone, the US markets rallied at least 2.8% (DJIA). The S&P had its best day since May 18, 2020, with all 11 S&P sectors rising.
In Canada, the TSX joined the rally after the Fed’s interest rate announcement helping all the TSX’s sectors to gaining. In both countries, the Energy sector was the top performer thanks to the European Union announcing plans to phase out imports of Russian oil imports.
Thursday: The bulls that poked their heads out the previous two days got mauled by the bears today. The TSX fell 2.3% and it was the best performer of the four. It was dragged down by Shopify (TSX:SHOP) which fell 14% when it missed its quarterly earnings estimates. The Canadian Utilities and Telecommunications sectors were the only Canadian sectors to scratch out a gain on the day.
In the US, it was abroad selloff as all eleven S&P sectors declined, erasing gains from the previous two days as the three American Indexes fell a minimum 3% with the Nasdaq dropping nearly 5%, and the DJIA lost 1000 points. The fear of additional interest rates hikes investors to head for the hills, regardless of earnings reports.
Friday: Following up on Star Wars’ “May the Fourth be with you,” it was Revenge of the Sixth today. 😊 Each of the four Indexes posted another day of losses. Fears of a .75% interest rate hike by the Fed is causing investors to dump Technology companies. Despite gains in the Energy sector (thanks to higher oil prices), declines in the Technology sectors on both sides of the border dragged down the TSX in Canada and the S&P, DJIA and Nasdaq in the USA. The TSX fell for the sixth straight week, while the Nasdaq and the S&P posted their fifth week of losses. For the S&P it was its longest run of losses since 2011.
For the week, the TSX was down .6%, the S&P declined .2%, the DJIA dropped .23%, and the Nasdaq fell 1.54%.
Weekly Portfolio Review
The market giveth, the market taketh away. The share prices of companies move up, they move down, often faster than they go up. Even my best companies are not immune from major selloffs and the resulting drop in share price. There is nothing I can do about this. This week was a perfect example with the Indexes rising at the start of the week and then falling sharply to end the week.
As for the Portfolios, another down week. Given the end of the week sell off, my only surprise is Portfolio 2 had the biggest decline. I suspect the main culprit is the 15% drop of MongoDB (NASD:MDB).
Companies on the Radar
Given the current market conditions, I have decided to sit on the sidelines and do …. nothing. It is hard to get excited about investing when everything is down. It seems the markets are taking one step up and two or three steps back. Its tough enough watching the Indexes fall daily but seeing recent additions to Portfolios fall is adding insult to injury. It feels like I am making money disappear. For me, mentally, its easier to do nothing.
Once the market bottoms and strings together a week or two of upward movement, these are the companies I will be looking at for higher growth potential companies:
- Crowdstrike
- Cloudflare
- The Trade Desk (NASD:TTD)
Or for less volatile companies with reasonable growth:
- Microsoft (NASD:MSFT)
- Apple (NASD:AAPL)
- Home Depot (NYSE:HD)
- American Tower (NYSE:AMT)
- Berkshire Hathaway (NYSE:BRK.B)
Portfolio Update
Portfolio 1
Portfolio 1 for the week ended May 6, 2022: DOWN 
Despite Portfolio 1 being down over 25% in 2022, I have discovered that the bulk of the losses are from the American companies. A year ago, I was wondering if I owned too many Canadian companies. Now I am glad I stayed diversified across the two countries.
Lesson: Maintain a level of diversity suitable for your risk level. I am diversified across sectors, industries, countries, dividend and growth stocks.
- It was a busy week for the European Union (EU) anti trust regulators. On one front, Apple was charged with restricting third party access to the technology used in the Apple mobile wallets. Apple could receive a fine of up to 10% of its global turnover or USD $35 billion based on revenue in 2021. In a separate case, Alphabet (NASD:GOOGL) has asked the EU to rescind a USD $1.6 billion fine for abusing its dominance in online search to hinder online search rivals.
- Sea Limited’s (NYSE:SE) shopping app Shopee received official approval from Brazil’s central bank to operate as a payment institution. This should help Shopee further penetrate the Brazilian market where Shopee is one of the most downloaded apps. After backing out of their expansion to France and India, it is great to see the company make some headway outside their southeast Asian home turf.
- Nvidia has agreed to pay a $5.5 million fine for failure to disclose to investors a sizable portion of 2018 revenue growth for its gaming chips came from crypto miners.
- Berkshire Hathaway hosted their annual general meeting for the first time since the onset of the Covid-19 pandemic. Over 50,000 people made the pilgrimage to Omaha to hear firsthand from investing legends Warren Buffet and Charlie Munger. Buffett is 91 and Munger is 98 so there may not be many more appearances by them at future Berkshire annual general meetings. Buffet assured shareholders the culture they have established is baked into Berkshire. He also revealed Berkshire had invested more than US $50 billion in the market so far in 2022.
Activity
No significant activity to report this week.
Dividends
Dividends Received this week for the following companies:
Companies followed by DRIP (Dividend Re-Investment Plan) indicate additional shares were purchased with the dividend. Any cash leftover was added to the cash balance.
Canadian $
Toronto-Dominion Bank (TSX:TD) DRIP
US $
No US$ dividends this past week.
Quarterly Reports
CargoJet Inc.
All currency listed in CAD dollars
Selected highlights from their first quarter 2022 financial results on May 2, 2022
- Revenues for the quarter were $233.6 million compared to first quarter 2021 revenues of $160.3 million, up 45.7% compared to the same period in 2021.
- Net loss for the quarter was $56.4 million (net income of $30.4 million excluding warrant valuation loss) compared to net income of $89.4 million in 2021 (net income of $7.5 million excluding warrant valuation gain).
- The company is authorized to purchase up to $15,500,000 of its Shares during the twelve-month period commencing May 4, 2022 and ending May 3, 2023.
- Approved a 10% increase to its quarterly dividend bringing the next quarterly dividend in June 2022 to $0.2860 per share.
TMX Group Limited
All currency listed in CAD dollars
Selected highlights from their first quarter 2022 financial results on May 2, 2022
- Revenue of $287.1 million, up 14% from $252.0 million in Q1/21, including $33.0 million from acquisition of voting control of BOX on January 3, 20221.
- Net income attributable to equity holders of TMX Group in Q1/22 was $267.4 million, compared with a net income attributable to equity holders of TMX Group of $96.4 million for Q1/21.
- Declared a dividend of $0.83, payable on June 3, 2022, to shareholders of record at the close of business on May 20, 2022.
Lattice Semiconductor Corporation
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 3, 2022
- Revenue increased 30% compared to Q1 2021 and 6% compared to Q4 2021.
- Gross margin of 67%.
- A year-over-year increase in net income of 92% on a GAAP basis. Net Income improves to $0.26 per diluted share for Q1 2022, compared to $0.13 for Q1 2021.
Viemed Healthcare Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 3, 2022
- Net revenues attributable to the Company’s core business for the quarter ended March 31, 2022, were $30.2 million, a new Company record, and an increase of $4.7 million or 18% over the quarter ended March 31, 2021.
- Total net revenues for the current quarter were $32.3 million, which included approximately $2.1 million for contact and vaccine tracing services related to the COVID-19 pandemic.
- Net income before taxes for the quarter ended March 31, 2022, totaled approximately $2.5 million, compared to $1.5 million for the quarter ended March 31, 2021.
- The Company had a cash balance of $29.2 million on March 31, 2022, and an overall working capital balance of $30.1 million. Total long-term debt as of March 31, 2022, was $4.5 million.
- The Company repurchased and cancelled 389,878 shares under the share repurchase program during the quarter ended March 31, 2022 and has continued its’ repurchase program during the current quarter.
- Total revenues for the second quarter of 2022 are estimated to be approximately $32.3 million to $33.1 million.
Skyworks Solutions, Inc.
All currency listed in US dollars
Selected highlights from their second quarter 2022 financial results on May 3, 2022
- Record second quarter revenue of $1.336 Billion, up 14% year over year.
- Operating income for the second fiscal quarter was $367.3 million.
- Diluted earnings per share of $1.86.
- Declared a cash dividend of $0.56 per share.
- Expects double-digit year-over-year revenue and earnings growth in the June quarter.
Innovated Industrial Properties, Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 4, 2022
- Generated total revenues of approximately $64.5 million in the quarter, representing a 50% increase from the prior year’s quarter.
- Net income attributable to common stockholders of approximately $34.7 million for the quarter.
- Paid a quarterly dividend of $1.75 per common share on April 14, 2022, representing a 17% increase over the fourth quarter 2021 dividend and a 33% increase over the prior year’s first quarter, equal to an annualized dividend of $7.00 per share.
- 14% debt to total gross assets, with approximately $2.2 billion in total gross assets, representing a total annual fixed cash interest obligation of approximately $16.9 million, with no debt maturing in 2022 or 2023.
Magnite Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 4, 2022
- Revenue of $118.1 million for Q1 2022, up 94% from Q1 2021.
- Net loss of $44.6 million in Q1 2022, for a loss per share of $0.34, compared to net loss of $12.9 million, for a loss per share of $0.11 in Q1 of 2021. An increased loss of 246%.
Andlauer Healthcare Group Inc.
All currency listed in CAD dollars
Selected highlights from their first quarter 2022 financial results on May 4, 2022
- Revenue increased 54.9% to $148.4 million, compared to $95.8 million in the three months ended March 31, 2021.
- Operating income increased 45.0% to $24.2 million, compared to $16.7 million in the first quarter of 2021.
- Net income increased 41.9% to $16.5 million, compared to $11.6 million in the first quarter of 2021.
Progeny, Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 5, 2022
- Record revenue of $172.2 million, reflecting 41% growth over the prior year period.
- Net income was $5.0 million, or $0.05 income per diluted share, a decrease of 67% as compared to $15.2 million, or $0.15 income per diluted share, reported in the first quarter of 2021.
- 264 clients as of March 31, 2022, as compared to 179 clients as of March 31, 2021.
- As of March 31, 2022, the company had total working capital of approximately $180.3 million and no debt.
BCE Inc.
All currency listed in CAD dollars
Selected highlights from their first quarter 2022 financial results on May 5, 2022
- Revenues of $5,850 million, up 2.5% over the same period in 2021.
- Net earnings of $934 million, up 36.0%.
- Declared a quarterly dividend of $0.92 per common share.
- Anticipates revenue growth of 1% – 5% for 2022.
Cloudflare, Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 5, 2022
- Total revenue of $212.2 million, representing an increase of 54% year-over-year.
- Net loss was $41.4 million, compared to $40.0 million in the first quarter of 2021.
- Net cash flow from operating activities was negative $35.5 million, compared to $23.5 million for the first quarter of 2021.
- Cash, cash equivalents, and available-for-sale securities were $1,725.2 million as of March 31, 2022.
- Anticipate second quarter revenue of $226.5 – $227.5 million, and total revenue of $955.0 to $959.0 million.
fuboTV Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 5, 2022
- Record $236.7 million in total revenue in the first quarter, an increase of 98% year-over-year.
- Net loss of $140.8 million, compared to $70.2 million in 2021, an increase of 101% year over year.
- Total paid subscribers (up 81% to 1,056,245), total revenue (up 98% to $236.7 million), and advertising revenue (up 81% to $22.8 million)
Datadog, Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 5, 2022
- Revenue was $363.0 million, an increase of 83% year-over-year.
- Net income of $9,738 thousand compared to a net loss of $13,068 in the same period in 2021.
- Cash, cash equivalents, restricted cash, and marketable securities were $1.7 billion as of March 31, 2022.
- As of March 31, 2022, had about 2,250 customers with Annual Recurring Revenue (ARR) of $100,000 or more, an increase of 60% from 1,406 as of March 31, 2021.
- Estimating revenue for second quarter of $376 – $380 million, and $1.6 – $1.62 billion.
Telus Corporation
All currency listed in CAD dollars
Selected highlights from their first quarter 2022 financial results on May 6, 2022
- Revenues of $4,282 million, up 6.4% compared to the same period in 2021.
- Net income of $404 million, up 21.3% compared to the same period in 2021.
- Free cash flow of $415 million, up 29.3% compared to the same period in 2021.
- Quarterly dividend increased to $0.3386 per share, up 7.1 per cent over the prior year.
Portfolio 2
Portfolio 2 for the week ended May 6, 2022: DOWN
As mentioned last week, the second Tax Free Savings Account (TFSA) account within Portfolio 2 has somehow managed to show a gain of 10%. This week it was nominally flat despite the carnage in the rest of Portfolio 2, as well as the other Portfolios. There might be something to this blue chip, dividend paying strategy. 😊
Activity
No significant activity to report this week.
Dividends
Dividends Received this week for the following companies:
Companies followed by DRIP (Dividend Re-Investment Plan) indicate additional shares were purchased with the dividend. Any cash leftover was added to the cash balance.
No dividends this past week.
Quarterly Reports
Fortis Inc.
All currency listed in CAD dollars
Selected highlights from their first quarter 2022 financial results on May 4, 2022
- First quarter net earnings of $350 million, or $0.74 per common share, compared to $355 million, or $0.76 per common share in the first quarter of 2021.
- Fortis expects long-term growth in it is rate base will support earnings and dividend growth of approximately 6% through 2025.
Guardant Health, Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 5, 2022
- Revenue of $96.1 million for the first quarter of 2022, an increase of 22% over the corresponding period of 2021.
- Gross profit was $64.1 million for the first quarter of 2022, an increase of $14.2 million from $49.9 million for the corresponding prior year period. Gross margin was 67%, as compared to 63% for the corresponding prior year period.
- Net loss was $123.2 million for the first quarter of 2022, as compared to $109.7 million for the corresponding prior year period.
- Continues to expect full year 2022 revenue to be in the range of $460 million to $470 million, representing 23% to 26% growth over full year 2021.
Chorus Aviation Inc.
All currency listed in CAD dollars
Selected highlights from their first quarter 2022 financial results on May 5, 2022
- Revenues of $342,380 thousand compared to $202,487 thousand in the same period in 2021, an increase of 69.1%.
- Net income of $22.9 million, or $0.13 per basic share; a quarter-over-quarter increase of $61.0 million primarily due to a decrease in one-time restructuring costs of $81.8 million.
Telus Corporation
All currency listed in CAD dollars
Selected highlights from their first quarter 2022 financial results on May 6, 2022
- Revenues of $4,282 million, up 6.4% compared to the same period in 2021.
- Net income of $404 million, up 21.3% compared to the same period in 2021.
- Free cash flow of $415 million, up 29.3% compared to the same period in 2021.
- Quarterly dividend increased to $0.3386 per share, up 7.1 per cent over the prior year.
Brookfield Renewable Partners L.P.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 6, 2022
- Revenues of $1,135 million, compared to $1,020 million in the same quarter in 2021.
- Net income of $26 million, compared to a net loss of $55 million in the same period in 2021.
- Almost $4 billion of total available liquidity.
- Quarterly distribution in the amount of $0.32 per LP unit.
Portfolio 3
Portfolio 3 for the week ended May 6, 2022: DOWN
Shopify is the largest holding in Portfolio 3. As Shopify goes, so goes Portfolio 3. Last week I saw a report where an analyst at CIBC Capital Markets updated its target price for Shopify to $460 from $850. With shares currently around CAD $600, this made me think maybe I should sell a few shares and then buy them back when they fall to the target price. This would be a clever way to make some easy money. Alas, it turns out that I missed the currency that was being used in the update. Turns out it was USD $460, not CAD $460. Shopify’s share price is around USD $460. I am glad I doublechecked before making an unforced error as I would have lost a few bucks on the transactions (sell and buy back shares) and if the share price had gone up, I would have lost even more.
Lesson: always know the currency with which you are dealing. Just because both Shopify and CIBC are Canadian companies, does not mean they are talking about Canadian dollars.
Following up on Shopify, I wrote the preceding paragraph mid week, when the market had a 2-day rally and Shopify shares were trading in the CAD $600 range. Two days later, Shopify reported their slowest quarterly growth in seven years. Despite revenues of US $1.2 billion, up 22 per cent from the same period last year, analysts were expecting US$1.25 billion. They also indicated slowing revenue growth with rising costs. Not a good combination. As a result, the share price was hammered and at the end of May 6 Shopify traded at less than CAD $490. I am starting to wish I had sold at CAD $600. ☹
I remind myself the business has not changed, only the share price. It was a good business 6 months ago, its still a good company and the share price will rebound. Nonetheless, this is still painful.
Activity
No significant activity to report this week.
Dividends
Dividends Received this week for the following companies:
Companies followed by DRIP (Dividend Re-Investment Plan) indicate additional shares were purchased with the dividend. Any cash leftover was added to the cash balance.
Canadian $
Toronto-Dominion Bank (TSX:TD) DRIP
US $
No US$ dividends this past week.
Quarterly Reports
Viemed Healthcare Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 3, 2022
- Net revenues attributable to the Company’s core business for the quarter ended March 31, 2022, were $30.2 million, a new Company record, and an increase of $4.7 million or 18% over the quarter ended March 31, 2021.
- Total net revenues for the current quarter were $32.3 million, which included approximately $2.1 million for contact and vaccine tracing services related to the COVID-19 pandemic.
- Net income before taxes for the quarter ended March 31, 2022, totaled approximately $2.5 million, compared to $1.5 million for the quarter ended March 31, 2021.
- The Company had a cash balance of $29.2 million on March 31, 2022, and an overall working capital balance of $30.1 million. Total long-term debt as of March 31, 2022, was $4.5 million.
- The Company repurchased and cancelled 389,878 shares under the share repurchase program during the quarter ended March 31, 2022 and has continued its’ repurchase program during the current quarter.
- Total revenues for the second quarter of 2022 are estimated to be approximately $32.3 million to $33.1 million.
Magnite Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 4, 2022
- Revenue of $118.1 million for the first quarter of 2022, up 94% from Q1 2021.
- Net loss of $44.6 million in Q1 2022, for a loss per share of $0.34, compared to net loss of $12.9 million, for a loss per share of $0.11 in Q1 of 2021. An increased loss of 246%.
Shopify Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 5, 2022
- Total revenue in the first quarter grew 22% to $1.2 billion.
- Net loss for the first quarter of 2022 was $1.5 billion, compared with net income of $1.3 billion, for the first quarter of 2021.
- On March 31, 2022, Shopify had $7.25 billion in cash, cash equivalents and marketable securities, compared with $7.77 billion on December 31, 2021.
- Announced a USD $2.1 billion deal to acquire delivery specialist Deliverr to expand its order fulfillment capabilities.
- Year-over-year revenue growth to be lower in the first half and highest in the fourth quarter of 2022, as the COVID-triggered acceleration of ecommerce in the first half of 2021 from lockdowns and government stimulus is absent from the first half of 2022.
Cloudflare, Inc.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 5, 2022
- Total revenue of $212.2 million, representing an increase of 54% year-over-year.
- Net loss was $41.4 million, compared to $40.0 million in the first quarter of 2021.
- Net cash flow from operating activities was negative $35.5 million, compared to $23.5 million for the first quarter of 2021.
- Cash, cash equivalents, and available-for-sale securities were $1,725.2 million as of March 31, 2022.
- Anticipate second quarter revenue of $226.5 – $227.5 million, and total revenue of $955.0 to $959.0 million.
Brookfield Renewable Partners L.P.
All currency listed in US dollars
Selected highlights from their first quarter 2022 financial results on May 6, 2022
- Revenues of $1,135 million, compared to $1,020 million in the same quarter in 2021.
- Net income of $26 million, compared to a net loss of $55 million in the same period in 2021.
- Almost $4 billion of total available liquidity.
- Quarterly distribution in the amount of $0.32 per LP unit.
Telus International
All currency listed in US dollars
Selected highlights from their first quarter 2022 results on May 6, 2022
- Revenue of $599 million, up 19% year-over-year.
- Net income of $34 million, compared with $3 million in the same quarter last year.
- Diluted earnings per share (EPS) of $0.13, compared with $0.01 in the same quarter last year.
- Cash provided by operating activities was $124 million, compared with $36 million in the same quarter of the prior year.
- Full year outlook for 2022 revenue in the range of $2,550 to $2,600 million, representing growth of 16.2% to 18.5% on a reported basis, and 19% to 21% constant currency growth.