Dexterra Sees Significant Cluster Insider Buying Post-Positive Q1 2024 Performance,

Dexterra Group Inc. is a Canada-based company that has been serving clients for over 75 years. It provides a range of support services for the creation, management, and operation of infrastructure across Canada. The company is listed on the Toronto Stock Exchange and has a market capitalization of CAD 358.58 million.

Multiple Insiders Stock Up

The month of May proved to be quite active for the company as multiple insiders showed their trust in their company's stock. In total, six insiders reported increasing their holdings in the firm shortly after the company reported its Q1 2024 earnings report.

• On May 17, Independent Director David Lloyd Johnston purchased 3,900 shares at CAD 5.43, totaling CAD 21,177.

• On May 17, President Robert A. Johnston bought 20,000 shares at CAD 5.40, amounting to CAD 108,000.

• On May 21, CEO Mark Alan Becker acquired 20,000 shares at CAD 5.47, totaling CAD 109,600.

• On May 21, Independent Director Russell A. Newmark purchased 9,000 shares at CAD 5.48, totaling CAD 49,320.

• On May 22, Independent Director Mary Garden bought 4,694 shares at CAD 5.40, totaling CAD 25,347.

• On May 23, CFO Denise Achonu acquired 3,843 shares at CAD 5.40, totaling CAD 20,752.

• Between May 21 and May 27, President Jeffrey Litchfield bought 10,129 shares at an average price of CAD 5.45, totaling CAD 55,234.

In summary, the insiders made an accumulative investment of CAD 389,334. 

Financial Performance

The Facilities services firm recently announced its Q1 2024 results.

In Q1 2024, Dexterra's IFM and WAFES units saw a 7.2% revenue increase to $231.6 million, driven by new contracts and robust activity. Adjusted EBITDA was $19.6 million, down from Q4 2023 due to seasonal factors but supported by strong access matting and defense contracts. Net earnings from continuing operations were $4.4 million. Free Cash Flow improved to $10.6 million from a $5.1 million deficit in Q1 2023. The acquisition of CMI expanded Dexterra's U.S. IFM presence. 

However, the company faced a $3.6 million net loss due to discontinued Modular operations. Dexterra also repurchased shares and declared a Q2 2024 dividend of $0.0875 per share.

Taking into account, the positional change of multiple insiders in the firm, with positive growth in revenue and cash flow, it won’t be wrong to deduce that the firm is posed for a potentially bullish future.