Chris Collins discusses Auto Canada's significant year-over-year financial decline, highlighting a swing from CAD$45.2M profit (Q2 2023) to CAD$33.1M loss (current quarter), a roughly CAD$78.3M swing, heavy losses from their 10 U.S. stores (reported US losses around CAD$22–24M), and a reported data breach; he notes a 16% drop in Auto Canada's share price to CAD$15.20 (about USD$0.75). The clip ends with a personal anecdote and promotional call-to-action for his show, Service Driving Revolution.
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I am bringing misery and shame to the news today. Our friends up above the border, the northern part of North America in Canada, Auto Canada considers selling their US stores reports data breach and a 24 million dollar second quarter loss. So this is a crazy thing. Now I'm gonna guess that there's other assets that kind of played into this. They reported a total loss of $33 million for a quarter. Now this is a crazy thing is just if you didn't think things were changing year over year, what do you think they reported for profit or loss in the second quarter of 2023, just 12 months earlier? So they reported a loss of 33.1 million. What do you think they did a year ago? They did 40 million in profit. 45.2 million. That's amazing. Pretty close. Yeah. That's a $75 million swing. 78 million, $78.3 million swing. There's Christian with that on the spectrum math. That is the Rain man math that he can do in his head. The math isn't the only thing that puts me on the spectrum either. They're reporting huge losses out of the. They only have 10 stores in, in the United States and they lost $22 million, $24 million. Oh my gosh. They must be big stores.
It's so wrong. Well, I think they have their own in house training. Their shares went down to Canadian dollars. This is their. They slipped 16%. They're now at $15.20 just to do the. The exchange rate in American money. That is 75 cents a share.
That's a lot of money to lose out of 10 stores. Yeah, their DMS going down doesn't help. I mean it's plus plus, right? It's just like at some point you just want to consolidate and re regroup. I don't blame them for thinking about selling those stores. There's a lot of stores for sale.
Very interesting. You know what my second story is? You were walking to work today. Well, this was a different job. I had to drive to this job. What job was this? Yeah, so I used to work and I'm kind of embarrassed to say this now because it's the only time I've ever gotten fired in my entire life. But I got fired from my job and at. At the M and M's factory because I kept throwing out all the W's.
Thanks so much for watching this clip of Service Driving Revolution. We're uploading new stuff every day, so make sure you subscribe and click the bell icon so you don't miss out. If you have a question you'd like us to answer on the show, call 8333 Ask SDR and we'll answer your question on the show. That's 8333 Ask SDR. For special deals on our books and training, head over to offers.chriscollinsinc.com now that's offers.chriscollinsInc.com I'm Chris Collins, and I'll see you in the next video.
