Mullen Group Ltd

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• Update: National Bank Lowers Mullen Group Target to $18, Maintains Outperform, from 16 hours ago by MT Newswires

  16 hours ago by MT Newswires
  Companies Mentioned: MTL
  03:16 PM EDT, 04/25/2024 (MT Newswires) -- Mullen Group has had its target lowered to $18, from $19.50, at National Bank after its Q1 results missed NBF and consensus forecasts. Analyst Cameron Doerksen says that although the trucking market looks s...

• National Bank on Mullen Group's Q1 Miss, from 17 hours ago by MT Newswires

  17 hours ago by MT Newswires
  Companies Mentioned: MTL
  02:16 PM EDT, 04/25/2024 (MT Newswires) -- Mullen Group released its results for Q1 ended March 31 on Thursday. Results missed NBF and consensus forecasts. End markets were expected to be relatively soft for Mullen in Q1, but "actual results neverth...

• DJ Mullen Group Outlook Could Lean Toward Conservative Side -- Market Talk, from 18 hours ago by Dow Jones

  18 hours ago by Dow Jones
  Companies Mentioned: MTL
  
  1233 ET - Mullen Group's gloomy outlook for the economy might not mean the company's performance will match. TD Cowen analyst Tim James says in a report that Mullen reported lower-than-forecast Ebitda due to weakness across its three business segments, and "commentary regarding the broader industry outlook was not encouraging." However, he notes that management has a history of anticipating weakness and positioning conservatively. "[The company] indicated that they 'anticipated demand to be soft entering 2024' suggesting any updates to 2024 guidance could be limited," James says. (adriano.marchese@wsj.com)
  

• DJ Mullen Group Shares Slide on 1Q Revenue Miss, from 20 hours ago by Dow Jones

  20 hours ago by Dow Jones
  Companies Mentioned: MTL
  
  By Adriano Marchese
  
  Mullen Group shares were sharply lower Thursday after logging lower revenue in the first quarter where analysts expected a rise.
  
  In mid-morning trading, shares were down 9.1% to 13.12 Canadian dollars ($9.57).
  

• DJ Mullen Group Feels Pressure Of Ebbing Demand In Slowing Canadian Economy -- Market Talk, from 23 hours ago by Dow Jones

  23 hours ago by Dow Jones
  Companies Mentioned: MTL
  0726 ET - If logistics can be analogous to the blood supply in a human body, the pulse of the Canadian economy appears to be weak in 1Q. The Chair and Senior Executive Officer of Canadian logistics company Mullen Group says that using 1Q results as a barometer for the state of the economy "one could conclude that the economy is definitely slowing." Murray Mullen also says that across each of the company's operating segments there has been a softening in demand, accompanied by competitive market conditions. "Consumer demand continued to decline, capital investment in Canada was noticeably weaker, and major project construction activity virtually ground to a halt," Mullen adds. (adriano.marchese@wsj.com) (END) Dow Jones Newswires April 25, 2024 07:27 ET (11:27 GMT)