ECN Capital Reports US$0.04 in Adjusted Net Income per Common Share in Q1 2026

TORONTO, May 11, 2026 /CNW/ - ECN Capital Corp. (TSX: ECN) ("ECN Capital" or the "Company") today reported financial results for the three-month period ended March 31, 2026  

For the three-month period ended March 31, 2026, ECN Capital reported Adjusted net income applicable to common shareholders of $10.1 million or $0.04 per share (basic) versus $13.6 million or $0.05 per share (basic) for the previous three-month period and $7.2 million or $0.03 per share (basic) for the prior year comparable period.

Originations for the three-month period ended March 31, 2026 were $665.1 million, versus $662.4 million in the previous three-month period and $538.2 million for the prior year comparable period. Originations for the three-month period ended March 31, 2026 include $381.5 million of originations from our Manufactured Housing Finance segment and $283.6 million of originations from our Recreational Vehicle and Marine Finance segment.         

Managed Assets as at March 31, 2026 were $7.5 billion versus $7.3 billion as at December 31, 2025 and $7.2 billion as at March 31, 2025.

Adjusted EBITDA for the three-month period ended March 31, 2026 was $29.7 million versus $36.2 million for the previous three-month period and $25.5 million for the prior year comparable period. 

Operating Expenses for the three-month period ended March 31, 2026 were $36.1 million versus $35.8 million for the previous three-month period and $29.4 million for the prior year comparable period.

Net loss attributable to common shareholders for the three-month period ended March 31, 2026 was $0.9 million versus net income of $4.5 million for the previous three-month period and net loss of ($2.5) million for the prior year comparable period.

Non-IFRS Measures

The Company's interim unaudited consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board and the accounting policies we adopted in accordance with IFRS.

The Company believes that certain Non-IFRS Measures can be useful to investors because they provide a means by which investors can evaluate the Company's underlying key drivers and operating performance of the business, exclusive of certain adjustments and activities that investors may consider to be unrelated to the underlying economic performance of the business of a given period. Throughout this news release, management uses a number of terms and ratios which do not have a standardized meaning under IFRS and are unlikely to be comparable to similar measures presented by other organizations, including adjusted EBITDA, adjusted net income, adjusted net income per common share and managed assets. A full description of these measures, along with a reconciliation to the most directly comparable IFRS measure, where applicable, can be found in the Management Discussion & Analysis ("MD&A") that accompanies ECN Capital's financial statements for the three-month period ended March 31, 2026.

ECN Capital's MD&A for the three-month period ended March 31, 2026 has been filed on SEDAR+ (www.sedarplus.com) and is available under the investor section of the Company's website (www.ecncapitalcorp.com).

About ECN Capital Corp.

ECN Capital is a leading provider of business services to North American-based institutional investor, insurance company, pension plan, bank and credit union partners (collectively, its "Partners"). ECN Capital originates, manages and advises on credit assets on behalf of its Partners. Our Partners are seeking high quality assets to match with their deposits, term insurance or other liabilities. During the period covered by this MD&A, these services were offered through two operating segments: (i) Manufactured Housing Finance, and (ii) Recreational Vehicle and Marine ("RV and Marine") Finance. Subsequent to the end of reporting period, the Company intends to distribute its RV and Marine operating segment to an affiliate. ECN Capital has approximately 770 employees and operates principally in the United States. ECN Capital is a reporting issuer in each of the Provinces of Canada.

Forward-looking Statements

This news release includes forward-looking statements regarding ECN Capital and its business. Such statements are based on the current expectations and views of future events of ECN Capital's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Forward-looking statements in this news release include those relating to the payment of dividends. The forward-looking events and circumstances discussed in this news release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting ECN Capital, including risks regarding the finance industry, economic factors, and many other factors beyond the control of ECN Capital. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. A discussion of the material risks and assumptions associated with the forward-looking statements can be found in ECN Capital's MD&A for the three-month period ended March 31, 2026 and ECN Capital's  Quarterly Information Form dated May 11, 2026 for the three-month period ended March 31, 2026 which have been filed on SEDAR+ and can be accessed at www.sedarplus.com. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and ECN Capital does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE ECN Capital Corp.

561-717-4772, [email protected]