ECN Capital’s Ongoing Strategic Review Weighs on Stock
Q1 2023 results weren’t good and analysts downgraded ECN stock on the disappointment while awaiting the review report ECN Capital (TSE:ECN, OTCMKTS:ECNCF) reported its Q1 2023 results on May 15. Unfortunately, they weren’t very good. The Canadian financing company’s business is slowing down. In the first quarter, it originated $465.1 million in loans, down 8.2% from $506.8 million in Q4 2022. However, they were up 16.9% from $398.0 million a year earlier. Results from the RV Industry Association’s March 2023 survey of manufacturers determined that total RV shipments ended the month with 31,869...