Cascades (TSE:CAS) Issues Quarterly Earnings Results

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

CAS traded down C$0.73 on Friday, hitting C$15.92. 611,817 shares of the stock were exchanged, compared to its average volume of 331,727. The firm has a market capitalization of C$1.61 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.56 and a beta of 0.88. The company has a debt-to-equity ratio of 111.08, a current ratio of 1.48 and a quick ratio of 0.86. Cascades has a 12 month low of C$10.25 and a 12 month high of C$18.86. The business has a 50-day moving average of C$17.36 and a two-hundred day moving average of C$13.61.

Cascades Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, December 3rd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, November 19th. Cascades’s payout ratio is 38.71%.

Insider Buying and Selling at Cascades

In other news, insider Jérôme Nadeau sold 5,234 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$17.30, for a total transaction of C$90,548.20. Following the completion of the sale, the insider owned 21,997 shares of the company’s stock, valued at approximately C$380,548.10. This represents a 19.22% decrease in their position. Also, insider Allan Hogg sold 17,684 shares of the company’s stock in a transaction that occurred 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 directly owned 112,056 shares of the company’s stock, valued at approximately C$1,960,980. This trade represents a 13.63% decrease in their position. Insiders have sold a total of 27,395 shares of company stock valued at $480,844 in the last ninety days. 23.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on CAS shares. National Bank Financial upped their price target on shares of Cascades from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th. Royal Bank Of Canada boosted their price objective on Cascades from C$15.00 to C$18.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Canadian Imperial Bank of Commerce upped their target price on Cascades from C$17.50 to C$23.00 in a research report on Wednesday, September 30th. TD increased their target price on Cascades from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Finally, Scotia boosted their price target 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. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, 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.