Mullen Group (TSE:MTL) Releases Earnings Results

Mullen Group (TSE:MTL) issued its quarterly earnings data on Thursday. The company reported C$0.52 EPS for the quarter, FiscalAI reports. The company had revenue of C$653.17 million during the quarter. Mullen Group had a return on equity of 10.58% and a net margin of 5.25%.

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

• Q3 operating performance was among the company’s best ever, supported by its diversified business model, productivity gains, and stronger activity in mining-related projects.
• Mullen Group ended September with CAD 214 million of cash and CAD 381 million of working capital, providing substantial flexibility for capital expenditures and acquisitions.
• The company announced the acquisition of Willson International, a 100-year-old logistics business expected to contribute roughly CAD 80–85 million of revenue and complement its existing international logistics operations.
• Management sees significant upside from LNG, pipeline, mining, data-center, and other major infrastructure projects, but emphasized that approvals and purchase orders remain uncertain; projects would likely require a six- to 12-month ramp once awarded.
• Mullen expects about CAD 10 million of near-term cash-tax savings from new capital-investment deductions, while noting the benefit is primarily a one-time timing advantage that reduces deductions in later years.

Mullen Group Stock Performance

MTL opened at C$28.76 on Friday. The company’s 50 day moving average is C$26.48 and its 200 day moving average is C$23.86. Mullen Group has a 12-month low of C$13.92 and a 12-month high of C$32.47. The company has a current ratio of 2.18, a quick ratio of 1.06 and a debt-to-equity ratio of 70.20. The company has a market cap of C$2.76 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.81 and a beta of 0.83.

Insider Buying and Selling

In other news, insider Carson Paul Urlacher purchased 9,500 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was bought at an average cost of C$28.20 per share, with a total value of C$267,900.00. Following the completion of the purchase, the insider owned 90,000 shares in the company, valued at approximately C$2,538,000. This represents a 11.80% increase in their ownership of the stock. Corporate insiders own 6.32% of the company’s stock.

Key Headlines Impacting Mullen Group

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

• Positive Sentiment: Analysts raised price targets. Scotia increased its target to C$33 while maintaining a “sector perform” rating; Raymond James raised its target to C$31 with a “market perform” rating. RBC lifted its target to C$35 and retained an “outperform” rating, while National Bank Financial raised its target to C$36 and also rated the shares “outperform.” Mullen Group analyst price target increases
• Positive Sentiment: Third-quarter results were strong. Mullen Group reported C$51.5 million in profit, revenue of approximately C$653.2 million—up 16% year over year—and earnings of C$0.52 per share. Reports highlighted record results, tighter industry capacity and productivity improvements as key drivers. Mullen Group reports third-quarter profit and revenue growth
• Neutral Sentiment: Management is positioning for future growth. Mullen said it expects new capital spending to meet a 25% EBITDA-margin threshold and is preparing for a project ramp in 2027. This could support longer-term growth, but it also makes execution and future margins important for investors. Mullen Group 2027 capital and EBITDA outlook
• Negative Sentiment: The market may be taking profits after the recent rally. Mullen Group reached a new 12-month high following analyst upgrades, while the “market perform” and “sector perform” ratings from two firms indicate that some analysts view the current valuation as fairly priced. A Q3 “reality check” may also be encouraging investors to focus on forward expectations rather than the strong reported quarter. Mullen Group reaches a new 12-month high

Analyst Ratings Changes

A number of brokerages have recently commented on MTL. Royal Bank Of Canada increased their price target on shares of Mullen Group from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a report on Friday. BMO Capital Markets boosted their price target on shares of Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. Desjardins lifted their target price on shares of Mullen Group from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research note on Tuesday. Scotiabank raised their target price on Mullen Group from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 15th. Finally, Scotia upped their price objective on shares of Mullen Group from C$30.00 to C$33.00 and gave the stock a “sector perform” rating in a report on Friday. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$30.22.

Mullen Group Company Profile

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.