ISC Reports Q1 2026 Results — Recovery Solutions Record, EPS $0.49

Information Services Corporation (ISC) released its financial results for the quarter ended March 31, 2026, reporting consolidated revenue of CAD 61.8 million. The company highlighted record quarterly revenue in its Recovery Solutions division and a diluted earnings per share (EPS) of CAD 0.49.

Revenue performance was driven by Registry Operations, which generated CAD 33.1 million—up 12% year-over-year—supported by higher average real estate values and a first-quarter record in high-value property registrations in the Land Registry. Services segment revenue totaled CAD 27.0 million, with Recovery Solutions rising to CAD 5.3 million from CAD 4.1 million a year earlier. Technology Solutions third-party revenue declined due to timing of project work.

Operationally, ISC delivered stronger adjusted EBITDA and free cash flow metrics: adjusted EBITDA was CAD 24.3 million and adjusted free cash flow CAD 17.0 million for the quarter. Net income reached CAD 9.2 million, and operating cash flow was CAD 13.7 million. The company made voluntary prepayments of CAD 3.0 million on its syndicated credit facility and reported a net leverage of 2.16x as of March 31, 2026. The board also declared a quarterly cash dividend of CAD 0.23 per Class A share.

These results align with ISC’s 2026 guidance and its multi-year plan to double the company’s size by 2028 on similar metrics. Management expects continued support from a buoyant Saskatchewan residential market for Registry Operations and anticipates organic growth in Services through new customer onboarding. The board has initiated a Strategic Review to evaluate options including potential asset sales, acquisitions, or a sale of the company.

Looking ahead, market watchers note that ISC’s near-term trajectory will hinge on Saskatchewan real estate dynamics, the pace of Recovery Solutions demand—particularly in automotive receivables—and timing of Technology Solutions contract milestones. Interest rate movements and large project execution will affect interest expense and margins; management’s net leverage target of 2.0x–2.5x and strong free cash flow projections will be key indicators investors monitor in coming quarters.