CA - Mullen Group Non-GAAP EPS of $0.51 revenue of $518.4M beats by $135.91M

• Mullen Group press release ( OTCPK:MLLGF ): Q3 Non-GAAP EPS of $0.51.
• Revenue of $518.4M beats by $135.91M .
• Reduced the amount being borrowed on our Credit Facilities by $43.5 million to $98.7 million.
• Working capital of $94.6 million, an increase of 62.8 percent or $36.5 million from the second quarter of 2022.
• Total net debt ($630.5 million) to operating cash flow ($319.1 million) of 1.98:1 as defined per our Private Placement Debt agreement (threshold of 3.50:1).
• Private Placement Debt of $484.4 million with no scheduled maturities until 2024 (average fixed rate of 3.93 percent per annum).  Private Placement Debt increased by $18.9 million due to the foreign exchange loss on our U.S. $229.0 million debt.
• Book value of Derivative Financial Instruments up $10.5 million to $48.0 million, which swaps our $229.0 million of U.S. dollar debt at an average foreign exchange rate of $1.1096.
• Net book value of property, plant and equipment of $978.8 million, which includes $633.8 million of historical cost of owned real property.
• Repurchased and cancelled 206,100 Common Shares at an average price of $12.11 per share under our normal course issuer bid during the third quarter of 2022.

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