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Canada's DRI Healthcare Q3 cash receipts and adjusted EBITDA rise

By Reuters News


Overview

  • Canada pharmaceutical royalty investor's Q3 Normalized Total Cash Receipts and Adjusted EBITDA each rose 9% yr/yr

  • Adjusted Cash Earnings per Unit for Q3 slipped to $0.53 from $0.55 a year earlier

  • Company acquired Juvmo royalty rights for $316 mln and exercised Ekterly put option for $178.2 mln


Outlook

  • Adjusted EBITDA for 2026 expected to exceed previous guidance high end of $162 mln

  • Company says it is tracking above previously communicated aspirational targets for 2026–2030

  • DRI Healthcare expects first Juvmo royalty receipt after initial U.S. commercial sale


Result Drivers

  • EKTERLY DISPOSITION - Co exercised its put option on Ekterly, receiving $178.2 mln and ceasing further royalty participation in the product

  • ZEJULA IMPAIRMENT - Co recorded a non-cash impairment of $14.6 mln on the Zejula royalty asset during the quarter


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Total Income

$46.9 mln

Q3 Adjusted Cash Earnings per Unit

$0.53

Q3 Adjusted EBITDA

$40.01 mln

Q3 Adjusted EBITDA Margin

84.00%


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the pharmaceuticals peer group is "buy"

  • Wall Street's median 12-month price target for Dri Healthcare Trust is C$25.00, about 34.9% above its November 3 closing price of C$18.53


Reuters Recommended Reads

  • Nov 4 - Royalty Pharma Q3 adjusted EBITDA beats estimates; raises 2026 guidance

  • Nov 3 - Pfizer Q3 revenue beats estimates on new launches; raises guidance

  • Nov 4 - BioCryst Q3 revenue rises 13% on ORLADEYO sales


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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