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Visual21 Nov 2025
Data center suppliers
ECN Capital Corp (ECN) investor relations material
ECN Capital Corp Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Announced definitive agreement to be acquired by an investor group led by Warburg Pincus at CAD 3.10 per share, a 13% premium to closing price, in an all-cash transaction expected to close in H1 2026, pending approvals.
Q3 2025 adjusted net income per share was $0.06, up from $0.05 year-over-year, matching consensus estimates.
Total originations reached $826.8 million, with strong growth in both Manufactured Housing and RV & Marine segments.
Transaction provides a significant liquidity event for shareholders, with favorable terms and minimal closing conditions.
Taking private supports further simplification and cost reduction for manufactured housing and RV marine businesses.
Financial highlights
Q3 2025 total originations reached $826.8 million, with $466.4 million from manufactured housing and $360.4 million from RV and marine.
Adjusted operating income before tax was $24.4 million, up from $19.5 million year-over-year.
Adjusted net income to common shareholders was $16.7 million, or $0.06 per share, up from $0.05 per share in the prior year quarter.
Adjusted EBITDA was $40.6 million, up from $36.1 million year-over-year.
Managed assets increased to $8.2 billion from $7.6 billion in the previous quarter and $6.7 billion year-over-year.
Segment performance
Manufactured Housing originations were $466.4 million in Q3 2025, a 33% increase year-over-year.
RV and Marine originations were $360.4 million, up 31% year-over-year.
Manufactured Housing segment adjusted operating income before tax was $22.8 million; managed assets up 17% year-over-year to $6.5 billion.
RV & Marine segment adjusted operating income before tax was $5.3 million; managed assets at $1.7 billion.
RV & Marine revenue increased 60% year-over-year to $17.5 million; servicing revenue contributed ~30% of segment revenue.
Impact of sales upgrades on Q3 originations
Q3 operating expense increase vs. revenue growth
How does managed assets growth benefit partners?
Detail corporate simplification post-privatization.
What drove Champion Financing JV outperformance?
Describe the new RV/Marine funding partnership.
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Next ECN Capital Corp earnings date
Q4 202527 Feb, 2026
Next ECN Capital Corp earnings date
Q4 202527 Feb, 2026
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Frequently asked questions
ECN Capital Corp is a financial services company that provides business services to North American financial institutions. The company specializes in asset management, with a focus on consumer credit portfolios such as secured and unsecured loans. ECN Capital offers advisory and management services to its clients, helping them with the origination, underwriting, and servicing of consumer loans, particularly in the areas of manufactured housing, recreational vehicles, and marine financing. The company is headquartered in Toronto, Ontario, and its shares are listed on the Toronto Stock Exchange.
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