Caldwell Reveals 2024 Financial Results and Revival of Quarterly Dividend

On November 19, 2024, Caldwell Partners International Inc. announced its financial results for the fourth quarter and the full fiscal year ending August 31, 2024. Facing economic uncertainties, Caldwell reported a slight decline in consolidated professional fees, down from $96.9 million in 2023 to $86.3 million in 2024. Despite challenges, Caldwell maintained profitability, with a net earnings of $4.2 million for the year, compared to a loss of $11.3 million the previous year.

The firm recorded a notable gross profit increase, reflecting efficient cost management, amidst softened hiring demand. According to CEO Chris Beck, search volumes were below the historical average. However, an uptick in new searches is anticipated for the first quarter ending November 30, 2024.

The board declared the reinstatement of a quarterly dividend and plans a share repurchase via a Normal Course Issuer Bid, signaling confidence in the company's future performance and commitment to shareholder value.