Tricon | Jotup

Tricon Announces Date for Fourth Quarter 2023 Earnings Release

Retrieved on:

Wednesday, February 7, 2024

Construction & Property, Residential Building & Real Estate, TSX, Security (finance), Tricon, Sun Belt, TCN

Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”), an owner, operator and developer of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, announced today that it intends to release its financial results for the fourth quarter of 2023 after markets close on February 27th, 2024.

Key Points:

Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”), an owner, operator and developer of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, announced today that it intends to release its financial results for the fourth quarter of 2023 after markets close on February 27th, 2024.
The company will not be holding a conference call following the release.
Tricon’s financial statements and management’s discussion and analysis for the fourth quarter and year ended December 31, 2023 will be made available on the Company’s website, on the U.S. Securities and Exchange Commission website at www.sec.gov and on the Canadian Securities Administrators’ website at www.sedar.com .
The Company will also release supplementary information which will be available on the Tricon Residential Investor Relations website at www.triconresidential.com .

Tricon Reports Q3 2023 Results as Strong Property Fundamentals Continue

Retrieved on:

Tuesday, November 7, 2023

For the basis of presentation of the Company’s non-IFRS measures and reconciliations, refer to the “Non-IFRS Measures” section and Appendix A.

Key Points:

For the basis of presentation of the Company’s non-IFRS measures and reconciliations, refer to the “Non-IFRS Measures” section and Appendix A.
This moderation is attributed to persistently higher mortgage rates and ongoing economic uncertainty which have introduced a level of caution for homebuyers.
Core FFO for the third quarter of 2023 was $42.7 million, a decrease of $3.7 million or 8% compared to $46.4 million in the third quarter of 2022.
These items were partially offset by NOI growth in the SFR business and stronger results from U.S. residential developments.

Tricon Energy is Welcomed as the Newest Member of the Vinyl Sustainability Council

Retrieved on:

Tuesday, October 17, 2023

Partnership, Climate, Executive, Environment, Transport, Carbon, Risk management, Tricon, VSC, Renewable energy

WASHINGTON, Oct. 17, 2023 /PRNewswire-PRWeb/ -- The Vinyl Sustainability Council (VSC), a self-funded business council advancing sustainability in the vinyl industry, is proud to announce its newest member – Tricon Energy. Tricon is an industry leader in the global trade and distribution of chemicals, providing logistics, financing, risk management, market intelligence, distribution, and technical support to thousands of business partners in over 120 countries.

Key Points:

WASHINGTON, Oct. 17, 2023 /PRNewswire-PRWeb/ -- The Vinyl Sustainability Council (VSC), a self-funded business council advancing sustainability in the vinyl industry, is proud to announce its newest member – Tricon Energy.
"We're thrilled to be welcoming Tricon Energy as our newest member," said Jay Thomas, the Executive Director of the VSC.
"Their commitment to sustainability aligns with our Guiding Principles, and we're looking forward to growing our partnership and helping the organization on its sustainability journey."
"We believe that a more sustainable future requires collaboration across the value chain," said Elizabeth Carlson, Chief Sustainability Officer at Tricon Energy.

Tricon Announces Date for Third Quarter 2023 Results Conference Call

Retrieved on:

Tuesday, October 10, 2023

Construction & Property, Residential Building & Real Estate, Security (finance), Tricon, NYSE, TSX, Conference, TCN, Sun Belt, Property management

Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, invites you to participate in its live conference call with senior management to discuss the Company’s financial results for the third quarter of 2023.

Key Points:

Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, invites you to participate in its live conference call with senior management to discuss the Company’s financial results for the third quarter of 2023.
The Company will also release supplementary information which will be available on the Tricon Residential Investor Relations website at www.triconresidential.com .
The conference call will be available via webcast on the Tricon Residential Investor Relations website at www.triconresidential.com .
A replay of the call will be available from 2pm ET on November 8th, 2023, until midnight ET, on December 8th, 2023.

Tricon Solutions Inc. wins Alberta Women Entrepreneurs Upsurge Entrepreneur Award

Retrieved on:

Friday, September 29, 2023

Growth, Woman, Marketing, Female, Auction, Tricon

Tricon is pleased to announce it won the Alberta Women Entrepreneur’s Upsurge Entrepreneur Award.

Key Points:

Tricon is pleased to announce it won the Alberta Women Entrepreneur’s Upsurge Entrepreneur Award.
AWE awards the Upsurge Entrepreneur Award to female entrepreneurs who have built a solid foundation for their business and are now experiencing rapid growth and significant expansion opportunity by strengthening their leadership capacity and developing new marketing opportunities.
“Kindra and I are absolutely thrilled to be the winners of the Upsurge Entrepreneur Award amidst such an extraordinary group of women achievers.
This award speaks to the quality, integrity, and innovation that define Tricon,” followed Kindra Howard, Partner, Tricon Solutions.

Tricon Reports Q2 2023 Results Driven by Strong Housing Fundamentals

Retrieved on:

Tuesday, August 8, 2023

The growth in NOI was primarily attributable to a $13.6 million or 14.4% increase in rental revenues as a result of a 7.3% increase in the average monthly rent ($1,792 in Q2 2023 vs. $1,670 in Q2 2022) and 3.6% portfolio growth (Tricon's proportionate share of rental homes was 21,656 in Q2 2023 compared to 20,910 in Q2 2022), and a 1% increase in occupancy (95.6% in Q2 2023 compared to 94.6% in Q2 2022).

Key Points:

The growth in NOI was primarily attributable to a $13.6 million or 14.4% increase in rental revenues as a result of a 7.3% increase in the average monthly rent ($1,792 in Q2 2023 vs. $1,670 in Q2 2022) and 3.6% portfolio growth (Tricon's proportionate share of rental homes was 21,656 in Q2 2023 compared to 20,910 in Q2 2022), and a 1% increase in occupancy (95.6% in Q2 2023 compared to 94.6% in Q2 2022).
Single-family rental same home NOI growth was 6.3% in the second quarter of 2023, compared to the same period last year.
This favorable change was driven by a 6.6% increase in rental revenue as a result of a 6.7% higher average monthly rent ($1,733 in Q2 2023 compared to $1,624 in Q2 2022), an improvement in bad debt (0.9% in Q2 2023 compared to 1.8% in Q2 2022) and slightly lower occupancy (97.5% in Q2 2023 compared to 98.0% in Q2 2022).
Tricon's net assets were $3.8 billion at June 30, 2023, increasing by $44 million when compared to $3.8 billion as at March 31, 2023.

Construction Forms, an H.I.G. Capital Portfolio Company, Completes Acquisition of Tricon Wear Solutions

Retrieved on:

Monday, July 24, 2023

Steel, Finance, Packaging, Engineering, Banking, Chemicals, Plastics, Professional Services, Manufacturing, Mining, Minerals, Natural Resources, CFI, Partnership, H.I.G. Capital, Safety, Rail transport, Tricon

Capital (“H.I.G.”), a leading global alternative investment firm with $57 billion of capital under management, is pleased to announce that its portfolio company, Construction Forms, Inc. (“CFI”), has acquired Tricon Wear Solutions (“Tricon”).

Key Points:

Capital (“H.I.G.”), a leading global alternative investment firm with $57 billion of capital under management, is pleased to announce that its portfolio company, Construction Forms, Inc. (“CFI”), has acquired Tricon Wear Solutions (“Tricon”).
Tricon serves customers across various end markets including pulp & paper, mining, and aggregates, and has industry- leading metallurgy, fabrication, and engineering capabilities.
Together, we have decades of expertise in engineering solutions for challenging abrasion and wear resistance applications.
CFI serves customers globally in a wide range of industries including concrete pumping, mining, dredging, power generation, and pulp & paper.

Tricon Announces Date for Second Quarter 2023 Results Conference Call

Retrieved on:

Tuesday, July 11, 2023

Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, REIT, TSX, Security (finance), TCN, Tricon, NYSE, Sun Belt, Conference, Property management

Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, invites you to participate in its live conference call with senior management to discuss the Company’s financial results for the second quarter of 2023.

Key Points:

Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, invites you to participate in its live conference call with senior management to discuss the Company’s financial results for the second quarter of 2023.
The Company will also release supplementary information which will be available on the Tricon Residential Investor Relations website at www.triconresidential.com .
The conference call will be available via webcast on the Tricon Residential Investor Relations website at www.triconresidential.com .
A replay of the call will be available from 2pm ET on August 9th, 2023, until midnight ET, on September 9th, 2023.

Tricon Prices $416 Million Securitization at Weighted Average Yield of 5.86%, Further Reducing Floating Rate Debt

Retrieved on:

Thursday, June 29, 2023

Other Construction & Property, Residential Building & Real Estate, Construction & Property, REIT, SFR, Bookrunner, BofA Securities, TCN, Sale, RBC Capital Markets, Jules Kroll, Acquisition, Sun Belt, TSX, NYSE, Security (finance), Tricon

The transaction, involving the issuance and sale of 5 offered classes of fixed-rate certificates with a total face amount of $416.4 million, was priced at a weighted average yield of approximately 5.86% with a term to maturity of approximately 5 years.

Key Points:

The transaction, involving the issuance and sale of 5 offered classes of fixed-rate certificates with a total face amount of $416.4 million, was priced at a weighted average yield of approximately 5.86% with a term to maturity of approximately 5 years.
The transaction reflected strong demand, with subscriptions of 3.5x the offered amount and participation from 26 investors, including four new to Tricon.
The 5.86% weighted average yield represents an attractive cost of financing that is in line with Tricon’s acquisition cap rates for single-family rental homes in the current market environment.
The proceeds of the transaction will be used to repay floating rate debt that was temporarily used to fund acquisitions within SFR JV-2, thereby reducing the Company’s floating rate debt exposure by approximately 500 basis points to 21% of total debt from 26% in Q1/231.

Tricon Delivers Solid Q1 2023 Results and Reiterates Full-Year Guidance

Retrieved on:

Tuesday, May 9, 2023

The Company expanded its single-family rental portfolio by acquiring 409 homes during the quarter, bringing its total managed portfolio to 36,525 homes.

Key Points:

The Company expanded its single-family rental portfolio by acquiring 409 homes during the quarter, bringing its total managed portfolio to 36,525 homes.
Construction at The Ivy and Maple House (West Don Lands - Block 8) continued to progress, with first occupancy anticipated in Q3 2023.
Tricon's liquidity consists of a $500 million corporate credit facility with approximately $462 million of undrawn capacity as at March 31, 2023.
The Company has also made available on its website supplemental information for the three months ended March 31, 2023.