on Redishred Capital Corp. (isin : CA7574891098)
RediShred Capital Corp Reports Steady Q3 2024 Growth Amid Pending Acquisition
RediShred Capital Corp has announced strong financial results for Q3 2024, with a revenue increase to $17.9 million CAD, representing a 16% growth compared to Q3 2023. The company's EBITDA, excluding net recycling revenue, rose by 60% to $2.7 million CAD over the previous year, and overall EBITDA increased by 35% to $4.1 million CAD.
The report highlights a 17% growth in corporate location revenue, totaling $17.3 million CAD. The acquisition of Confidential Shredding LLC in New Jersey and New York contributed to these gains. Year-to-date figures indicate a 41% rise in EBITDA, excluding net recycling revenue, amounting to $7.9 million CAD. RediShred generated $5.8 million CAD in free cash flow, marking a 17% increase year-to-date.
The company's decisive agreement with VRC Companies, LLC to acquire all outstanding common shares for CA$5.00 each is a significant development. The transaction awaits shareholder and court approvals, with completion anticipated in Q1 2025, transitioning RediShred to a private entity.
R. H.
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