Cascades (TSE:CAS) Issues Quarterly Earnings Results

Cascades (TSE:CAS) announced its quarterly earnings data on Thursday. The company reported C$0.33 earnings per share (EPS) for the quarter, FiscalAI reports. Cascades had a return on equity of 7.24% and a net margin of 2.64%. The firm had revenue of C$1.27 billion for the quarter.

Here are the key takeaways from Cascades’ conference call:

• Packaging adjusted EBITDA rose 5% sequentially to $126 million, but fell from $136 million a year earlier as higher recycled-fibre and transportation costs weighed on results. Adjusted EPS was $0.33, down from $0.38 in Q3 2025.
• Tissue adjusted EBITDA increased 34% sequentially to $47 million, with price increases and lower production costs more than offsetting inflation. Management said it expects to recover the volume from an Away-from-Home customer that ceased operations in less than a year, with no material impact on coming-quarter results.
• Cascades expects consolidated results to be slightly lower sequentially in Q4, citing seasonally softer shipments, higher energy costs and uneven packaging demand. The company said tariff exclusions have reduced the expected impact, with ongoing direct tariff costs estimated at less than CAD 10 million annually.
• Management reported CAD 50 million in profitability-improvement benefits captured so far in 2026 and expects to capture the remaining CAD 20 million of its target in Q4. It also reiterated its company target of adjusted EBITDA above CAD 650 million in 2027, while noting that macroeconomic uncertainty and inflation remain risks.

Cascades Stock Performance

CAS opened at C$16.65 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 111.08. The business’s 50 day moving average is C$17.37 and its 200-day moving average is C$13.60. The stock has a market cap of C$1.69 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.56 and a beta of 0.88. Cascades has a twelve month low of C$10.25 and a twelve month high of C$18.86.

Cascades Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, December 3rd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, November 19th. Cascades’s payout ratio is 38.71%.

Insider Buying and Selling

In other Cascades news, insider Allan Hogg sold 17,684 shares of Cascades stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of C$17.50, for a total transaction of C$309,470.00. Following the sale, the insider owned 112,056 shares of the company’s stock, valued at C$1,960,980. The trade was a 13.63% decrease in their position. Also, insider Emmanuelle Migneault sold 3,298 shares of the business’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of C$18.23, for a total value of C$60,122.54. Following the transaction, the insider owned 10,203 shares of the company’s stock, valued at C$186,000.69. This trade represents a 24.43% decrease in their position. Insiders sold 27,395 shares of company stock valued at $480,844 in the last three months. 23.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on CAS shares. Royal Bank Of Canada lifted their price target on shares of Cascades from C$15.00 to C$18.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Canadian Imperial Bank of Commerce raised their target price on shares of Cascades from C$17.50 to C$23.00 in a report on Wednesday, September 30th. Scotia lifted their target price on Cascades from C$16.00 to C$20.50 and gave the company a “sector outperform” rating in a research note on Friday, August 14th. National Bank Financial upped their target price on Cascades from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Finally, TD increased their price target on Cascades from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$18.38.

About Cascades

Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs approximately 9,000 talented people across a network of 60 production units in North America. With its participative management, half a century of experience in recycling, and ongoing efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet.