Yellow Pages (Y) Q2 2026 earnings summary

Executive summary

• Revenue declined 8% year-over-year to CAD 47.6 million for Q2 2026 amid macroeconomic uncertainty.

• Profitability and cash generation remained solid, with adjusted EBITDA margin at 19.1% reflecting cost discipline.

• Net income increased to CAD 3.3 million, or CAD 0.24 per diluted share, up from CAD 1.5 million last year, mainly due to lower financial charges and absence of prior year settlement loss.

• Completed a CAD 25 million share buyback and contributed CAD 2 million to the defined benefit pension plan.

• Cash on hand increased to approximately CAD 38 million at July 31, 2026, after these disbursements.

Financial highlights

• Total revenues for Q2 2026 were CAD 47.6 million, down from CAD 51.7 million year-over-year.

• Adjusted EBITDA decreased 15.1% year-over-year to CAD 9.1 million; margin declined to 19.1% from 20.7%.

• Adjusted EBITDA less CapEx for Q2 2026 was CAD 8.6 million, with a margin of 18.2%.

• Cash flows from operating activities declined to CAD 9.7 million from CAD 12.1 million.

• Basic income per share was CAD 0.25, up from CAD 0.11 year-over-year.

Outlook and guidance

• Revenue pressures and changes in product mix are expected to continue impacting margins in upcoming quarters, despite ongoing cost optimizations and workforce reductions.

• Board declared a CAD 0.25 per share dividend, payable September 15, 2026.