Mullen Group (TSE:MTL) Posts Earnings Results

Mullen Group (TSE:MTL) posted its earnings results on Thursday. The company reported C$0.41 earnings per share for the quarter, FiscalAI reports. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.The firm had revenue of C$609.30 million during the quarter.

Here are the key takeaways from Mullen Group’s conference call:

• Mullen said Q2 was one of its best quarters ever, with freight demand showing the Canadian economy is holding up reasonably well and keeping markets balanced.
• The company is seeing strong LTL margin performance from better lane density, cost recovery, and demarketing of low-paying freight, and management believes current margins can be sustained or improve if pricing tightens further.
• Mullen is increasing capital spending by CAD 50 million to prepare for major nation-building and energy projects, especially the Alaska LNG opportunity, and says the trucks/assets can be redeployed if those projects do not proceed.
• Management expressed growing confidence that nation-building projects and pipeline work will move ahead, which could drive higher revenue and margins into 2027 and beyond.
• The company still expects growth to be driven more by margin improvement and selective tuck-in M&A than by broad top-line expansion, with acquisitions focused on businesses that fit the network and create synergy.

Mullen Group Stock Up 7.2%

MTL opened at C$28.73 on Friday. The company has a market capitalization of C$2.76 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.81 and a beta of 1.13. The company has a debt-to-equity ratio of 89.59, a current ratio of 2.17 and a quick ratio of 1.06. The firm’s fifty day moving average price is C$22.70 and its two-hundred day moving average price is C$19.38. Mullen Group has a fifty-two week low of C$12.98 and a fifty-two week high of C$28.78.

Mullen Group Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were paid a $0.07 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Thursday, April 30th. Mullen Group’s dividend payout ratio is presently 82.35%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MTL. Raymond James Financial boosted their price objective on shares of Mullen Group from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Desjardins lifted their target price on shares of Mullen Group from C$23.00 to C$30.00 and gave the stock a “buy” rating in a report on Friday. Scotiabank boosted their target price on shares of Mullen Group from C$24.00 to C$29.00 in a research report on Friday. National Bank Financial upped their price target on shares of Mullen Group from C$23.00 to C$31.00 and gave the company an “outperform” rating in a report on Friday. Finally, Acumen Capital raised their price target on Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Mullen Group has an average rating of “Moderate Buy” and an average target price of C$26.00.

Key Stories Impacting Mullen Group

Here are the key news stories impacting Mullen Group this week:

• Positive Sentiment: National Bank Financial raised its price target on Mullen Group to C$31 from C$23 and reiterated an outperform rating, suggesting meaningful upside versus the current share price. National Bank Financial price target increase
• Positive Sentiment: BMO Capital Markets lifted its target to C$32 from C$25, one of the highest targets in the group and a bullish sign for valuation expectations. BMO Capital Markets price target increase
• Positive Sentiment: Desjardins increased its target to C$30 from C$23 and kept a buy rating, reflecting continued confidence in Mullen Group’s outlook. Desjardins price target increase
• Positive Sentiment: Royal Bank of Canada also raised its target to C$30 from C$23, adding to the broader analyst optimism around the stock. RBC price target increase
• Positive Sentiment: Scotiabank boosted its target to C$29 from C$24 and increased FY2026 and FY2027 EPS estimates, indicating improved earnings expectations even though its formal rating remained Sector Perform. Scotiabank estimate and target update

Insider Buying and Selling at Mullen Group

In related news, Director Stephen H. Lockwood sold 3,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total value of C$75,250.00. Following the sale, the director owned 7,562 shares of the company’s stock, valued at C$162,583. The trade was a 31.64% decrease in their ownership of the stock. Company insiders own 6.32% of the company’s stock.

About Mullen Group

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.