Cascades has beaten EPS estimates in three of its last four reported quarters. Its next test is whether modest growth can hold as packaging and tissue demand meet the company’s efforts to control costs and improve efficiency.
Cascades Inc. (TSX: CAS) is scheduled to report earnings before the market opens on November 5. The results cover the quarter ended September 30, 2026. Analysts expect EPS of C$0.39 and revenue of about C$1.25 billion, up 1.9% and 0.8%, respectively, from a year earlier. Five analysts contributed EPS estimates and four contributed revenue estimates, so the consensus is based on a relatively small group. Follow CAS.TO on the Cascades stock page.
Recent earnings trend
Cascades Inc.
CAS.TO
CAS.TO
Cascades Inc.
WealthAwesomeMarket cap
$1.78B
P/E
14.2x
Div. yield
2.69%
Div. / share
$0.48
52W high
$18.86
52W low
$10.07
1W change
+2.51%
Beta
0.70
Analyst Price Targets
Based on analyst covering CAS · as of Oct 19, 2026
Wall Street analysts forecast CAS stock price to rise 14.2% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$20.08
+14.2% Upside
Previously C$19.58 on Oct 15, 2026
Current Price
C$17.59
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on CAS's historical volatility
30-Day Vol
29.0%
Annualized
90-Day Vol
36.9%
Annualized
Trend (90d)
+13.8%
Annualized drift
90d Mean
C$18.48
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$17.88 | C$16.18 – C$19.76 |
| 60 trading days | C$18.18 | C$15.78 – C$20.94 |
| 90 trading days | C$18.48 | C$15.54 – C$21.98 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 5 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-05 | — | 0.3900 | — |
| 2026-06-30 | 2026-08-06 | 0.2400 | 0.1000 | +140.0% |
| 2026-03-31 | 2026-05-06 | 0.0700 | 0.0753 | -7.0% |
| 2025-12-31 | 2026-02-26 | 0.4000 | 0.3800 | +5.3% |
| 2025-09-30 | 2025-11-06 | 0.3800 | 0.3000 | +26.7% |
| 2025-06-30 | 2025-08-07 | 0.1900 | 0.1900 | +0.0% |
Investor takeaway: Analysts expect modest year-over-year growth, not a major jump in earnings. Cascades beat EPS estimates in three of its last four reported quarters, including C$0.24 versus C$0.10 in the June quarter. But past results don’t guarantee another surprise. Investors will be watching to see whether improvements in packaging operations support profits as the company’s packaging and tissue businesses manage costs and pricing. The consensus EPS estimate rose from C$0.38 to C$0.39 over the past 30 days, with two upward revisions and none downward.
C$0.39
That’s the consensus EPS estimate for the quarter ended September 30, 2026, compared with C$0.38 a year earlier. The estimate ranges from C$0.27 to C$0.48, based on five analysts.
Bull case
Cascades’ recent results support the optimistic case: the company beat estimates in three of its last four comparable quarters. In June, EPS was C$0.24, above the C$0.10 estimate. In the previous December quarter, it was C$0.40 versus C$0.38 expected. Company coverage has pointed to the Bear Island mill ramping up toward Greenpac-level efficiency, along with efforts to use fewer chemicals and materials. These changes could improve productivity and margins in packaging. If the gains continue, they could help Cascades outperform the modest growth analysts expect. The average analyst price target is C$20.08, 14.2% above the last close of C$17.59. Targets are estimates, not guarantees. See analyst ratings and targets for more context.
Bear case
The forecast points to limited growth: analysts expect revenue to rise 0.8% and EPS 1.9% year over year. Cascades’ reported profit margin is 2.64%, so changes in costs or pricing could have a meaningful effect on earnings. The company also missed its EPS estimate in March, reporting C$0.07 against C$0.0753. That’s a reminder that its recent run of beats hasn’t been consistent. The upcoming report will show whether efficiency gains are keeping up with pressure on pricing and input costs. The available information doesn’t include specific forecasts for margins or segment results.
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