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Earnings

Canlan Sports Reports Record $100 Million in Revenue and 14% Growth in Operating Earnings for 2025

By The Northwire Desk — AI Analysis Mar 24, 2026 · 14:44 ICE · 4.03 CANLAN ICE SPORTS CORP.
ICE · Price

Executive Summary

  • Canlan Ice Sports Corp. reported FY 2025 total operating revenue of $100.0 M, up 6.4% YoY, and net earnings of $3.9 M ($0.29 per share), a 37.9% increase versus 2024.
  • Operating earnings rose to $15.7 M (up 14.3%) after G&A expenses of $10.7 M; Q4 operating earnings were $5.6 M, up 7.3% YoY.
  • The Board declared a quarterly eligible dividend of $0.03 per share, payable April 15 2026, and two special dividends of $0.50 per share were paid during the year.

Key Details

  • Revenue Highlights
  • FY 2025 total operating revenue: $100.034 M (↑ $6.0 M / 6.4% YoY).
  • Q4 2025 revenue: $27.420 M (↑ $1.4 M / 5.3% YoY).

  • Food & beverage revenue increased by $1.1 M (↑ 8.4%).

  • Earnings & Margins

  • FY 2025 operating earnings: $15.650 M (↑ $2.0 M / 14.3%).
  • FY 2025 net earnings: $3.861 M ($0.29 per share) vs. $2.800 M ($0.21) in 2024.
  • Q4 2025 operating earnings: $5.559 M (↑ $0.377 M / 7.3%).

  • Q4 2025 net earnings: $2.309 M ($0.17 per share) vs. $2.360 M ($0.18) YoY.

  • Expense Summary

  • Facility operating expenses FY 2025: $73.649 M (↑ $4.3 M / 6.1%).

  • G&A expense FY 2025: $10.735 M (slightly down from $10.954 M).

  • Balance Sheet Highlights (FY 2025)

  • Cash & cash equivalents: $14.105 M (down from $21.677 M).

  • Total assets: $119.782 M; total liabilities: $83.780 M; shareholders’ equity: $36.002 M.

  • Dividend Policy

  • Quarterly eligible dividend declared: $0.03 per common share, payable April 15 2026 to record holders as of March 31 2026.

  • Two special dividends paid during FY 2025 totaling $1.00 per share ($0.50 each).

  • Operational Updates

  • Continued capital upgrades (equipment modernization, Game Deck pilot expansion at Canlan Sports York).

  • Acquisition of a hockey club in Romeoville, Illinois; new leadership added in West Dundee; facility improvements at Lake Barrington and Libertyville.

  • Forward‑Looking Statements

  • Management indicated ongoing investments to improve operational efficiency and long‑term asset performance.

Notable Quotes

  • “We are proud to report that consolidated revenue for fiscal 2025 surpassed the $100.0 million mark…,” – Joey St‑Aubin, President & CEO.
  • “These investments include the modernization of legacy equipment … and the expansion of our Game Deck pilot at Canlan Sports York,” – Ivan Wu, CFO.
Read the original news release →

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Earnings