KING CITY, Ontario, March 05, 2026 (GLOBE NEWSWIRE) —
Consolidated Financial Highlights
| (in thousands of dollars except per share amounts) | Three months ended | Year ended | ||||||
| December 31, 2025 |
December 31, 2024 |
December 31, 2025 |
December 31, 2024 |
|||||
| Net earnings (loss) | $ 16,137 | ($4,580) | $ 55,629 | $40,597 | ||||
| Basic and diluted earnings (loss) per share | $0.67 | ($0.19) | $2.29 | $1.66 | ||||
Operating Data
| Three months ended | Year ended | |||
| December 31, 2025 |
December 31, 2024 |
December 31, 2025 |
December 31, 2024 |
|
| Canadian Full Privilege Golf Members | 14,867 | 14,951 | ||
| Championship rounds – Canada | 153,000 | 174,000 | 1,184,000 | 1,140,000 |
| 18-hole equivalent championship golf courses – Canada | 37.0 | 35.5 | ||
| 18-hole equivalent managed championship golf courses – Canada | 3.5 | 3.5 | ||
| Championship rounds – U.S. | 55,000 | 51,000 | 219,000 | 217,000 |
| 18-hole equivalent championship golf courses – U.S. | 6.5 | 6.5 | ||
The following is an analysis of net earnings:
| Year Ended | Year Ended | ||||||
| (thousands of Canadian dollars) | December 31, 2025 | December 31, 2024 | |||||
| Operating revenue | $ | 227,525 | $ | 241,560 | |||
| Direct operating expenses(1) | 171,677 | 197,504 | |||||
| Net operating income(1) | 55,848 | 44,056 | |||||
| Amortization of membership fees | 4,859 | ||||||