Canada's DRI Healthcare annual income hits record, raises distribution
Overview
Canada's pharma royalty firm reported a total income of $61.7 mln in Q4 and a record of $198.6 mln for the year
Adjusted EBITDA margin for Q4 was 91%
Subsequent to quarter-end, the company announced a quarterly distribution increase to $0.11 per unit for 2026
Outlook
DRI Healthcare expects 2026 adjusted EBITDA between $157 mln and $162 mln
Company aims for $800 mln to $1 bln capital deployment from 2026 to 2030
DRI Healthcare plans low teens CAGR for adjusted EBITDA from 2026 to 2030
Result Drivers
INTERNALIZATION BENEFITS - DRI Healthcare completed the internalization of its investment management function, with benefits pacing ahead of schedule, contributing to a 91% adjusted EBITDA margin
CAPITAL DEPLOYMENT - Achieved five-year deployment target of $1.25 bln, including potential near-term milestone payments
Company press release: ID:nCNWB4vHya
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Total Income |
| $61.69 mln |
|
Q4 Adjusted Cash Earnings per Unit |
| $0.77 |
|
Q4 Net Income |
| $8.77 mln |
|
Q4 Adjusted EBITDA |
| $46.24 mln |
|
Q4 Adjusted EBITDA Margin |
| 91.00% |
|
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$20.72, about 26.7% above its March 3 closing price of C$16.35
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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