Cascades (TSE:CAS) Posts Earnings Results

Cascades (TSE:CAS) announced its quarterly earnings results 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 Stock Performance

TSE:CAS traded down C$1.45 during mid-day trading on Thursday, hitting C$16.65. 807,806 shares of the company traded hands, compared to its average volume of 330,412. The stock’s fifty day moving average price is C$17.37 and its 200-day moving average price is C$13.58. Cascades has a one year low of C$10.25 and a one year high of C$18.86. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 111.08. The firm has a market cap of C$1.69 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03.

Cascades Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 20th. Cascades’s payout ratio is currently 38.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CAS shares. National Bank Financial raised their target price on shares of Cascades from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. TD boosted their target price on shares of Cascades from C$19.00 to C$20.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Canadian Imperial Bank of Commerce increased their price target on Cascades from C$17.50 to C$23.00 in a report on Wednesday, September 30th. Scotia raised their target price on Cascades from C$16.00 to C$20.50 and gave the stock a “sector outperform” rating in a research report on Friday, August 14th. Finally, Desjardins boosted their price target on Cascades from C$13.00 to C$19.00 and gave the company a “hold” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$18.38.

Insider Transactions at Cascades

In related news, insider Jérôme Nadeau sold 5,234 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$17.30, for a total transaction of C$90,548.20. Following the completion of the transaction, the insider directly owned 21,997 shares in the company, valued at approximately C$380,548.10. The trade was a 19.22% decrease in their position. Also, insider Emmanuelle Migneault sold 3,298 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of C$18.23, for a total transaction of C$60,122.54. Following the sale, the insider owned 10,203 shares in the company, valued at approximately C$186,000.69. The trade was a 24.43% decrease in their position. Insiders have sold 27,395 shares of company stock valued at $480,844 over the last quarter. 23.78% of the stock is currently owned by company insiders.

Cascades Company Profile

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.