AutoCanada reports strong Q4 2024 earnings in Canada

the fourth quarter. AutoCanada reported strong demand for new cars in Canada during this period. This increase was supported by incentives from manufacturers and decrease in financing costs due to interest rate cuts by the Bank of Canada. The company also benefited from growth in its parts and service segments, as well as recent acquisitions. These factors, along with lower costs in certain areas, helped to balance out some declines in the company's overall financial performance. In particular, AutoCanada saw its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rise by 12.8% compared to the same time last year. This indicates a solid improvement in their operations in Canada. During the call, Paul Antony, the Executive Chairman, and CFO Sam Cochrane provided insights into the company's performance. They emphasized their optimistic outlook for the future and encouraged investors to review AutoCanada's recent filings for more detailed information. The discussion ended with an invitation for questions from analysts and investors. Overall, the fourth-quarter results suggest that AutoCanada is in a strong position moving forward.