• YEG is up 18% since our previous report in June 2024. Q2 revenue and EBITDA were in line with our estimates. Revenue was up  36% YoY, and EBITDA was up 58% YoY, primarily driven by property acquisitions. EPS turned positive (from -$0.001 to $0.01),  though it fell 8% short of our estimate because of higher interest expenses.
  • At the end of Q2-2024, YEG owned $128M in real estate investments, including 10 residential projects totaling 518 units, and one commercial project spanning 28,036 sq. ft.